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Show I Time to Expand I DROP III PRICES SEEM BYECCLES CHICAGO. Dec. 14 (INS) "Prices are coming down," Marriner 8. Xc-cles, Xc-cles, federal reseWe board chairman, told the American Farm Bureau federation fed-eration today. "Soon business will realise." he declared, de-clared, "that now Is the time to expand ex-pand facilities while labor is plentiful plen-tiful and materials easy to buy." At the ""t -Urn he cited three factors In the business recession. Give Warning It will not end, he warned, until "buying powers of various groups of our population are equalised. The purchasing power of many groups of MA I 1 X. -4 MARRINER 8. EtX'LES Tells recession factors labor. Industry and agriculture did not advance sufficiently to make it possible for them to buy the products prod-ucts of better organised groups." Ecclea declared Increased prices during the last two years were due to "practices of certain monopolistic monopolis-tic business and monopolistic labor-He listed the three factors la the recession thus: 1. Rapid increase In the cost of building material and labor costs Increasing so rapidly that It no longer was attractive. 2. Cost of railroad materials and prospective cost of labor have Increased In-creased so greatly that railroads no longer continued to apend money for maintenance and new equipment. equip-ment. Cut Spending t The government put three billion bil-lion less dollars Into circulation the first 11 months of this year than it did In the same period of 1936, taking tak-ing into account collections for security se-curity insurance. In the face of this decreased government spending, business, which had been expected to take up the slack, decreased its spending. "Many will say the chief factors In the recession were the unbalanced unbal-anced budget, the capital gains tax and the undistributed earnings tax." he went on. "It seems to me they cannot have been more than ' minor factors, because without them we had the greatest depression In the history of the country, and with them business- men and industrialists indus-trialists did not hesitate to go ahead With a fine surge up until this fall." |