Imperial Valley press., 1938-02-11

should be cancelled immediate
ly provided that so per cent of
the laidOfr workers are rehired
Dow-50 per cent year from
now at the latest.
C. All receiverships should be
terminated by July l, 1898.
Nothing is SO depressing as do
ing business with, or working
for, bankrupt concerns. New
capitalizations should be based
on 1886 earnings so that fur
ther receiverShips will not be
necessary.
d. Extend R.F.C. loans to pre-
vent any more unnecessary
railroad defaults this year.
5. UTILITIES: The heavy indus
tries could get substantial
stimulant from utility construc-
ton if the power companies were
not tormented to death. My
formula" for enlisting the util-
ity industriy's aid in ending the
recession" is:
a. Enact legislation SO holding
companies can be eliminated
without receivership.
b. Declare a moratorium on
enforced rate reductions for
two years. Publicly commend
and encourage voluntary re-
ductions.
C. Announce that there will be
no loans" or gifts to munich
palities to build tax-free pub
lie systems to compete with
and destroy private companies
unless existing systems refuse
to sell at fair price-fixed by
an unbiased arbitration board.
d. Until good business returns,
sell power at wholesale from
big government dams only to
the private companies to retail
under rates supervised by Fed
eral Power Commission.
). buildings: This is the key log
in the Jam of the capital goods
industries. Words can hardly eX-
press my feelings over the tactics
and wage demands of skilled
building mechanics. New build
ing, under current labor and ma
teria conditions, is almost impoS-
sible. Here arc suggestions to
lower costs:
a. Cut financing costs even fur
ther than in The New Housing
Act by allowing 30 per cent
mortgage money at 3 per cent
interest amortized over 25 years
on houses under $1,000.
b. Cut labor costs by government
offer to building workers to
make up any drop in annual
income from April l, 1888 to
April |, 1899 over their 1886
earnings provided they cut their
pay rates 20 per cent.
c. Ask material concerns to re-
duce prices to equal reduced
costs.
7. LABOR: Forces have been start
ed here that will be hard to stop.
But a few kind words for en-
ployers will make them feel that
the dice are not all loaded against
them. l have in mind:
a. Make labor unions liable to
suit as are business corpora
tions. Require them TO file an
nual financial information as
do employers.
b. Give employers equal rights
and responsibilities under the
Wagner Labor Act with labor
oraaniZerS
c. DO not interfere with wage
scales. Let them rise or fall as
economic conditions demand.
3. AGRICULTURE: Take Secre-
tary Wallace's advice as to agri-
cultural legislation. Basically,
however. solution of these current
business problems will help far
mers more than anything that
government legislation can do for
them
There are other changes needed.
but these are eSsntial now. No
other president has had the tre-
mendous opportunity for national
service which Mr.. Roosevelt possess
ses This entire schedule could be
put into effect very quickly. Just
the announcement that such pro-
gram IS 10 be adopted would snap
he nation out of the current morass
m one lightning jump These pro-
Dosals are logical. and practical.
20 Mr. Kennedy's suggestionl
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until you READ the ADS!