Evening star., 1938-12-04
Monopoly
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estimated the labor supply at 54,-
100000.
Says Growth Is Halted.
1t is due largely to this gradually
increasing national labor supply
that the prosperity production
levels of 1929 still would fall short
of comparably full employment in
1898, leaving, in fact, nearly 6,00O,-
600 still without jobs, even though
the country should suddenly re-
turn to the glad days of nine years
ago.
Informing the committee blunt
ly that the economic growth of the
country has halted, Mr.. Henderson
warned that I'VE are at a strategic
point. If we go on as we are, we
are in for stagnation and decline
One of the interesting observations
OF recent years is the inability of
the system to maintain itself at
any level it has attained. We do
not stop. We either go forward or
back.
Personally, I don't think we are
going to accept condition of stag
nation and decline"
Committee Outlines Scope.
For the first time in such complete
detail, the committee secretary out
lined the scope of the two-year
study.
The outline follows:
l. Concentration of control of eco
nom1c power and wealth.
2. The price system and price poll
cies.
3. The effect of governmental poll
cies on economic activity.
4. Desirability of the creation of
a bureau of industrial economics
proposed to stabilize production.
5. Types of competition which are
socially and economically harmful.
g. Improvement of antitrust policy
and procedure.
7. National standards for corpora =
tions.
8. Mergers, interlocking relation
ships, industrial. utility and bank
holding companies and investment
trusts.
9. Insurance companies.
10. Corporate practices, including
existing forms Of business organiza- l.
ton and trade associations.
IL. Distribution and marketing
laws.
IL. Credit mechanisms for small
enterprises.
13. Overall economic data and
special studies. covering such things
as consumer credit, labor racketeer-
Ing. depreciation and cost account
ing and debt growth.
Scrutiny of Policies.
That the scrutiny of government
policies insofar as they affect busi-
ness Will be penetrating one was
indicated by a further breakdown
by Mr.. Henderson of that particular
Item. The breakdown follows:
l. Specific policies, as named by
resolution authorizing INQUIRY
a. Taxation-burden on in
dustries, relation to ex-
pansion and lack of new
investment. As stimulus to
activity.
b. Patents. Pools. Specific
abuses. Place in competitive
enterprise. Litigation-costs
duration, effect on small en-
terpriser. Delays in granting
procedure. Division of own
ership-individuals and cor
porations. Utilization and
suppression. As stimulus to
activity. Key patents. Place
in chronological displace-
ment.
c. Adjustment of purchasing
power to 1925 price level.
2. Government policies not spe-
officially named by resolution.
a. Compensatory fiscal policies.
b. Governmental Intervention
corporations, loan agencies,
etc.
c. Foreign trade, reciprocal
trade agreements.
d. Agricultural program.
e. Housing.
I. Governmental regulation.
Lessons to be drawn from
experience of I. c. c., Coal
Commission, s. E. c., Federal
Power Commission, Maritime
Commission, Labor Board,
yVoro and uo,,r VIZ Y~n>
Healy, Federal Communica-
ton, etc.
&. Social security.
h. Results of other legislative
committee studies: NUM-
tions, holding companies, etc.
Hits 'Lilliputians of Left"
As the committee concluded its
first three days Of open hearings
without any noticeable "witch7
burning" a warning against the
future appearances of the "Lillipu-
tians of the Left" was distributed
for newspaper release by Merwin K.
Hart, president Of the New York
State Economic Council and chair
man Of the Committee for American
Private Enterprise.
Il, for one" Mr.. Hart promised,
"am going to see that everything
possible is done to prevent the peo-
pie being misled in any wav by
what takes place before or through
this committee. I call upon all SIN
cere Americans to be on the alert
against attempts to use this inves-
tigation in such a way as to carry
us further into social control"
He said the, "able chairmanship'
of Senator OMahoney, Democrat,
Of Wyoming gave assurance the
hearings would be conducted with
fairness to all" but declared the
first three days testimony showed
the 'Lilliputians Of the left will be
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