The Waterbury Democrat. [volume] (Waterbury, Conn.) 1917-1946, 1938-10-24

The President asked Tor the
1899 survey to assist him In pre-
pairing the new budget. The eco.
nomists aaN the same hard-boiled
experts Who predicted the 1897
slump when treasury and other
government advisers were very
bullish, Their sunny forecast Is
based on two key factors:
/. A $1,000, 900, 900 increase In
construction In 1889.
3. Industrial production only
slightly under The 1887 peak.
Construction activity for the
current year will total approxi-
nateiy $500, 900 900, as compared
to $500 100000 In 1887 and s4,-
100000, In 1885. The economists
estimate that construction next
year will range between a "con-
sentative" figure Of S6,t0o, 000, 900
and an Optimistic" possibility OF
.$e,7oo,000,00
These calculations do not In
clude WpA building, which was
excluded because Of uncertainty
over the extent Of next years
WpA program. II It Is added, the
total would be around l9S0's soar
ing ,i00,0o0,00O,
The economists expect 100000
new dwelling units to be built
next year, an increase OF about
80 per cent over this years $4,000
new homes. Basis for their conf
dence Is ~ q steady rise In indi-
vidual bank deposits, which means
that prospective home builders
will have the money TO make
down payments; (2) the relatively
: low percentage Of vacant dwell
ings plus the failure OF rents 70
decline appreciahly; and (S) de-
creases In construction costs.
Industrial Production
In durable, or consumer
goods, the experts estimate an
output In 1899 approximating the
1897 peak. In durable goods, such
as autos, machinery, and steel, the
prediction Is that production,
while we'll over the 1888 level,
the 1898 level, will be from 10 to
20 per cent under 1887.
The Federal Reserve Board IN
dex Of industrial production
has ranged this year from o low
Of 70 TO q high Of %. The econ.
omists told the PRESIDENT the
1880 peak would be between 100
and 100. That means O total
national income for 1888 or
around syO,OOO, 100000, as com.
pared 20 the S63, 900, 100000 esti-
mated for this year.
Such q notable Improvement
would boom retail sales, railroad
travel and freight revenues; con.
sumption OF electricity, gas ana
coal; and would return millions TO
private employment, with result.
Ing decreases In federal and local
relief costs.
According to Eve
Washington society Is breath.
less over the prospective contents
OF the new column just started IN
The Washington Herald BY EVE
Walker Robert, glamour girl OF
the New Deal and wife Of the sec.
rotary Of the Democratic National
Committee. The column will DO
entitled According 70 Eve.'
Here's hoping EVE does not dis
cover the truth OF Don Marquis
saying, "A column Ii . grave II
inches long and 2 inches wide."'
Another Jolt
The A. r. OF l.. Is In for stu
another Jolt from Senator Ed
Burke.
On his return from a recent
vacation IN England, the Nebras-
kan, leader OF the Congressional
opposition TO the National Labor
Relations Board, let II be known
that he had changed his mind
and would make no attempt 10
riddle that agency. Now II devel-
OBS he also has walked out on
the AL In It's fight against the
reappointment OF NLRB Commits
sioner Donald Smith.
At a dinner In his honor In
Omaha, Burke disclosed that he
would not oppose Smiths confir-
nation, but intended actively 70
support him.
On His Own
The day after young William
J. Dempsey was elevated TO gen.
eral counsel Of the Federal Com
munications Commission In the
recent shakeup, his father, Repre-
sentative John J. Dempsey OF New
Mexico, teiephoned him and said,
why didn't you tell us about
your promotion? That's a fine
way TO treat your parents"
"sorry, Dad" Bill replied,
"but was terribly busy, and be-
sides ! figured you would read
about IL In the papers"
The incident epitomizes young
Dempsey,s career In the govern
ment service. He got his first job
in 1884 as q s3.000-a-year PWA
lawyer without pull or influence,
and he has risen steady to his