The potters herald. [volume] (East Liverpool, Ohio) 1899-1982, 1944-10-19


tive steps are taken to forestall $
Federation of Labor warns the
ZIONIST article.
This is one of the startling
Next Depression" by Boris Shis
clusions are:
There will be at least ,0C
Germany capitulates.
In the year after Germanys defeat
this total will be reduced to mot less
than 100000" while the war against
Japan is still in progress.
Unemployment will soar, with catas-
trophe threatening when Japanese re
sistance ends, as stated in the first
paragraph
AT the peak of activity" Shishkin
says, there were more than 15,000,00O
jobs in war production and services
other than agriculture. a 60 per cent
cut in government purchases after VIE
Day will deprive nearly 100000 per-
sons OF their jobs.
Holds Nation Unprepared II
AT about the same time discharges
from the armed forces are likely TO
increase substantially. About 1,250,000
have already been discharged. Dis
charges are now running at the rate
of about 100000 Il month. Current un~
employment is slightly over 100000.
after victory in Europe, at least
100000 persons now working will
be without jobs"
Assn inor n
be prepared to enter the era of peace
with employment maintained anywhere
near the maximum achieved in war
time" Che AIL economist points to the
great threat inherent in the severe
shrinkage in consumer buying power
which will occur unless safeguards
are soon provided"
Sees Big Payroll Slash
The triple effect of CD shortening
Of hours and elimination of overtime,
GU cut in employment, and (3 down
grading, Shishkin writes, would be to
cut payrolIs 40 per cent-a drop from
$50, 000000,000 to S4S,000000000. Such
a cut, he adds, is enough to knock the
bottom out of the civilian market after
VIE Day"
when the war is finally won,
Shishkin declares, I'VE can achieve Il
high level of employment only if we
achieve a level of production without
any precedent in the past. Turning
back to pre-war levels would spell dis
aster If we return to the 1899, or
pre-war, level of production while |
II,
cannot escape unemployment reaching |
20,000,000.
''We have already passed the peak
of war employment. Immediate sharp
declines in employment are ahead. No
comprehensive program is ready to be
put in operation to hold employment
at high level and to assure stability in
transiStion
Not Too Late For Action"
at is late-but it is not too late.
1T is not too late to recognize that
a sharp deflation after We Day would
be as dangerous as an imitation 1t is
not too late to realize that in an econ
omy distorted by gigantic pressures of
war there are no natural forces of
supply and demand that can assure
stability.
1T is not too late to remember that
an unchecked and unbalanced postwar
boom will end in Il disastrous deIGeS-
sion with irreyocable certainty.
And it is not too late for labor,
business and government To agree and
to act in concert and with speed, TO
assure to all Of us safe conduct
through the treacherous no mans land
of industrial transition which lies
ahead" ,
Hits Prophets OF Boom"
Shishl>in blasted prophets of boom"
and those who advocate immediate re-
moval of production, price and other
controls when Germany is subdued He
recalled what happened after the last
war, with the boom, which lasted IS
months followed by collapse i'll
which unemployment shot up 6,00oOO0
payrolis shrank Al per cent and farm
prices and corporate profits dwindled.
but we must remember-that boom
and collapse was child's play compared
with what we will get if we try il
this time," he warned.
=. l. "A. 4. |