The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1938-01-20
SEEK PLANNING UNIT
TO END RECESSION

CONTINUED from page One)
business" A group of council
members is studying business laws
and the president was asked to
defer action in this direction I'M
til its report is available. He had
no comment.
Public Utilities: Sympathizing
with the administrations pro-
gram to eliminate pyramiding of
and abuses by holding companies
in the utility field, the council re-
ported it is disturbed" over the
feud existing between the new
deal and the power industry.
Hope was expressed that truce
Will be. facilited and that
"sound policy be developed as the
basis of relations between govern
ment and private enterprise, to
the end that the fear of destruc-
ton through government compe-
tition may be eliminated. The
president said the dispute affects
only Is per cent Of the industry.
Labor relations; The council
urged revision of the Wagner La
Dor act to make unions more re-
sponsible in contractural rela-
tions. The president said that he
favored legal listing Of labor
unions and said he. believed de-
velopments in this field should
follow the trades union arrange
ment in. Great Britain where
unions are required to report
their expenditures. He does not
favor incorporation of unions.
Housing: The council heartily
endorsed the administrations
housing program and of Mr.. Roos-
evelt's- insistence that housing
costs be reduced. No presidential
! comment.
Flow of private capital to in
dustry: The council said it is not
proposing general reduction of
business taxes at this time, but
urge drevisions in the undistribut-
ed profits tax and in the capital
gains and losses levy to encour-
age investment in new enterpriS
es and the development of estab-
lished industries. In addition, the
statement said, at is of essence
that the public know what forms
of business organization meet
with the APPROVAL of the admins
tration and are to be encouraged
in their development, and what
are to be affected by reform. The
president observed that one Of
the obstacles in this field was the
! failure of bankers to establish
new machinery which would en-
able small investors to invest IN
new enterprises.
Railroads: The council endOrs-
ed Mr.. Roosevelt's railroad views
and said establishments of a
financially sound rail system will
aid in stimulating business activ-
ity and employment.
Annual wages: The group
pledged their cooperation in eX-
pediting the presidents recon-
mendation for the establishment
of an annual wage rather than
high hourly rates in some indus
tries, notably construction. -,
Social Security: The council
said it would recommend several
important" amendments.
Agriculture: The council said:
1--WE are sympathetic with the
protection Of farm incomes
through federal legislation"
Monetary policy: The group
noted new demands for further
| cheapening of the dollar to com
bat the recession but warned that
adoption of such measures at TINS
| time "would seriously interfere
with, if not completely prevent
the resumption of fundamentally
sound recovery"
The president did not comment
In closing, the council told the
president:
1--WE have the production ma
chinery, private capital and tech
nioue. The leadership of govern
ment. business, labor and agricul-
ture can properly be condemned
by posterity if we fail to work
out sound and permanent prin-
ciples for insuring the contin-
mango of our economic life on
basis that promises the highest
possible standard Of living for
| the people of this country.
"To that end. Mr.. President,
we look to you to give Us the