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Show SEEN SEE SEENand ! : and 'lt lt ' HEAR- HEAR HEARaroundtne HEARaround JAR - , ! around aroundtne the theNATIONAL A , NATIONAL CAPITAL ! t : " = FAMOUSCarter FAMOUS By By WASHINGTON CarterO0.FEeIdfN Carter O0.FEeIdfN O0FEeIdfN CORRESPONDENT CORRESPONDE . Field Feld F , eld eldFAMOUS NT , 7 WashIngtonIvldence WashingtonEvidence Washington -Ivldence Ivldence -Evidence Evidence - : Evidence Increases Incre'lses Increlses IncreaSCS ' 111at that 111atthere thatthere tliatthere there will w1l1 be a real drive for tor the 30- 30 30hour 30hour 30-hour 30 hour - - hour " week "ePIc ePIc we'lc welc ' " when "hen hen congl congicss congress ess reconvenes reconvenes.In reconvenesIn . . In fact , despite the bitter bltter opposition oppositionof oppositionot ot of . many mnny business mpn mrn men , p\rtlCllhrl3 p rtlCllhrl3 psrticulnrly prtlCllhrl3l'lrge psrticulnrlylarge particularlylarge ' \ l'lrge llrge large ' emplo employers ers " whose "hose hose plants p1'1nts p11nts punts ' require requirecontinuous requirecontinuous requirecontinuous continuous cpe operation tlon to obtain maxi m'1d- m'1d m1d maxi- m'1dmum maximum maximum ' : - mum eflicicncy eHlclency elhctency and nnd economy , the prob prob- probalHUty prob- prob probability probability - - ability alHUty Is tliat that congress " would ould pass p'1SS p1SS p'tss ptss ' ' the theI the30 I 30 hours \ week , eel " bill b1ll a at t this session If Ifthe Ifthe Ifthe the union labor leaders were "ere ere " smcerely sincerely smcerelyfor sincerelyfor sincerelyfor for It . l\ l \ Nearly lrly rly every dm development clopmcnt Is grist to tothe tothe tothe the mill mm of the measmc's measmcs measure's measures ' advocates advocatesfor a advocatesFor \ ocates ocatesror ror for example enmplc etnmple , the ' latest l'1test l1test gO\elnment gO elnment government gOelnmentfigures governmentfigures goveinmentfigures \ figures show shlw ) that " wage wide 'lge lge ' pigments-a pigments a pigmentsarough p'l pl payments ' ments-a ments a mentsarough - arough rough way of stating statmg emplo employ employment employmenthave ment- ment menthne menthave - have hn\e hn e \ advanced adnced ad\ ad \ \nced nced \ to within wllhln 71 per cent centor centof centof or of normrl norrnrl normal But production ' as 'lS lS a result resultof resultof resultof of that th'1t th1t ' emplo employment ment and these thece : ss " wageshas 'lges lges ages 'lges11'1S ageslaws ' 11'1S 111S laws ' reached rc'tched rctched ' 91 01 31 per cent of nOl non noimal mnl mal . . It's Its Il's Ils ' lechnocnc technocracy ' all o\ o over or \ ( r ag'lm-the ag'lm aglm the again-the again ag'lmtheconstantly againtheconstantly again ' - theconstantly constantly recurring problem of how howto howto howto to pass p'lSS plSS piss ' the woik "olk olk work , " around-how around how around - how to keep keepenough keepenough keepenough enough consumers In fi fl ft nds ads to purcll'lse purclllse purchase purcll'lsethe purchasethe purchasethe ' the products of the dccre decreasing slng number numberof numberof numberof of workers worl.ers worlers . Many workersMany worl.ersMany experts e\-perts e perts ' \ - still think thlnlc that thIs thIsc thiscycle thiscvcle c cycle cle , fai f'11 f11 fit ' more than t11an the loss of ot cash cashby cashby cashby by the purchase of 1'orel 1orel ' foreign n bon bonds s that thathter thatlater thatlater hter later defaulted defnuJted , and infinitely more morethan morethan morethan than the thl ' stock stocle maiket m'll1.et mll1.et mll1et market ' . crash cnsh , , was re- re responsible responsible re responsible - - sponsible for the economic troubles troubleswhich troubleswhich .bleh bleh which " . began in tills this country in 1929 1020 1320 1020No 1320No 1929No No better illustration lUustratlon of this theory theoryhas theoryhas theoryhas has ever eer , been advanced to this writer writertnnn writertnan writertnan tnnn tnan " what "hat hat be discovered In Birming Blrmlng- Blrmlng Blrming- Blrming Blrmlngbam Blrmingham Birmingham - ham bam , in August , 1929 1020 1920 Just a ye'lf yelf year ye'lfbefore yearbefore yearbefore ' before , the tl1e steel mills ml11s of that dls dis distract district trlct tract had h'td htd hid ' employed 42 42000 000 men In InAugust InAugust InAugust August , 1 1929 1029 20 , they " were "ere ere employIng employingonly employingonly only 24,000 24000 , men But they were turn turn- turnIng turning turning - ing out more steel I ! IDown Down the LineIn Line LineIn In short , 18,000 18000 , well paid men had hadlost hadlost hadlost lost their Jobs , had h'1d h1d hid ' stopped buying at atthe atthe atthe the local loc\l loc l ' \ department dE'partment . ' store and other otherstores otherstores otherstores stores , " were "ere ere wearing old clothes and andsqucezin andsqueezing andsqueezing squcezin squeezing their pennies NewcqJapers Newspapers NewcqJaperswere Newspaperswere New < paperswere were forced to cut e expenses enses bec'luse becluse because bec'lusethe becausethe becausethe ' the stores had been forced to cut theIr theIradvertIsing theiradvertising theiradvertising advertIsing . And so it " went "ent ent all the theway theway theway way down don dawn do\\ do \ n the llne-more llne more line-more line line - - more than h\ h h0 two hmonths twomonths twomonths \ 0 months before beCore the stock market mulcet : crashAnd cr'lsh crlsh crisb cr'lshAnd crisbAnd ' And the same thing " was as happening ll'lppenlng lllppenlng ' In InPittsburgh inPittsburgh inPittsburgh Pittsburgh , Gary , Youngctown Youngstown Young : town , , ChI ChIcago Chisago Chlcago cago sago and end Bethlehem Bethle11em The Tl1e same sort sortof sortof sortof of thing , to a greater or lesser e\tent e tent extent extentwas " \ : , was happening h'1ppenlng h1ppenlng ' In every other Indus Industry industry Industry try , which meant me'lnt melnt ' that th'1t th1t ' the buying buyingpower buyingpower buyingpower power of the county country was beIngdrIed beingdried beingdried drIed up . But virtually vlrtual1y nobody realized reUzed , itl itlIn It I ! IIn In the last hst list session of congress so somuch somuch somuch much sentiment developed for the 30 30hOllr 30hour SOhour hOllr hour bill bl11 that tlmt , in the early e'lrly elrly ' stages stagesleader , le'1der le1der leader ' after leader told a group or of oreditors ofeditors ofeditors editors inquiring In'lulrIng InlulrIng ' into the general leg legIslatlve le legIslative ; Islatlve islative situation sltu'ltlon sltultlon situitlon ' that they expected expectedsome expectedsome expectedsome some modification of the 30 hour me\s me s mess mes'Lre messtre measLre ' \ 'Lre Lre tre ' , If it not that th'lt thlt ' Itself , to pass p'lSS plSS piss ' It did didnot didnot didnot not pass because union labor le'lders lelders lenders le'lderstnde lenderstrided leaderstraded ' tnde trided It for the tIle Wagner labor hbor Libor rel rela- rela relations rela relations - - tions tlons bill b1l1 They 'l'hey lhey ' ' far piefcrred pleferred preferred that . There are t two " 0 major m'1jor m1jor ' objections to tothe tothe tothe the 30 hour proposal , one by the big bigemplo bigemployers bigemployers emplo employers ers , and the other by some of ofthe ofthe ofthe the very people pebple who belle\ belle bellethat believe \ that the thetype thetype thetype type of thing Illustrated 1Uustrated by the Bir Dlr fir- fir firmingham Birmingham - mingham mlngham steel mills m1l1s not only caused causedthe causedthe causedthe the de-Pl de Pl depicsslon depression - esslon , but has held back bach the thereturn thereturn thereturn return of prosperity . The objection of the employers Is Isth Isthat Isthat th that t It will wiU disrupt their organiza organiza- organizatIons organizations - . tions dons Thirty hours a week ! Is s only onlyfive onlyfive onlyfive five 51hour six 51\ 51 sIe " \ : hour days dws diva Such a limitation limitationon on work hours docs does oes not fit in readl1y readily readl1ywith readilywith readilywith with sliifts shifts . . And of course there Is Isalw'1Ys isalways isalways alw'1Ys alw1Ys always ' the objection to a lntct blanket blanketraise b1 blanketral lntctrnlce < , rnlce raise : e in " wages "ages ages , boosting production productioncosts productioncosts productioncosts costs This last phase ph'lse phlse ' is especially especiallytrue especiallytrue especiallytrue true now because bet'luse betluse ' business generally ener'lny enerlny generilly ' Is Iseoncerned isconcerned Isconcerned eoncerned concerned over the resentment of house honse- honse house- honse1 housewises housewives - \\1\ 1 ' \ wives wises 1es \ es In particular and nnd bu buyers ers In gen gcn- gcn gen- gcneral general general - eral 0\ 0 over 0er otter \ er a advancing \ anclng prices Also because be because because cause they know that tint security b1l1 bill b1l1taes billtaxes billtaxes ta\es ta es taxes ' \ for old age pensions , unemploy unemploy- unemployment unemployment unemployment - ment insuiance insurance In < ; lII ance , , etc , are shortly go- go go - - ing going to advance produ production tlon < : costp costa cost fur further furtlrer further ther tlrer . The Tate objection by the theorists Is th\t th t that thatany thtnny thatany ' \ nny any such snch rao\ rao move raoe \ e Is Just a temporary temporarypa11laUve temporarypalliative temporarypalliative pa11laUve palliative Further rurther advances udvances In Inbor labor Inborsavmg laborsaving laborsaving savmg saving machlnery-addltlon'11 machlnery addltlon'11 addltlon11 machinery-additional machinery additional machinery - additional ' shortcuts shortcutsvvill shortcutswill vvill , \ IU come They fear the 30 hour hourme'lSlll hourmeasure hourmeasuie me'lSlll melSlll measure ' e might pro\ pro prove proe \ e a veritable strait- strait straitjacket straitjacket strait-jacket strait jacket straitjacketStock - jacketStock jacket Stock Rise Too Fastthe Fast FastIhe risingtoo Ihe 1.he 1he the . stock market has h'ls hls his ' been rising too rapidly f'1l'ldly f1lldly ' ' to suit the a administration administrationInformation administrationInformation mlnlstratlou mlnlstratlouInformation Information to this effect elTect comes lomes from fromthe fromthe fromthe the same sources that enabled the the"liter thewriter thevv "liter liter writer " liter to make male , this same S'lme Slme ' statement In InJune June , 1033 101J 10kI , vv \ when hen It may m'ty mty ' be remem remem- - remembered rememberc literallysmacked llteraHysmacl berc bered , the administration ndmlmstratlon llteraHy literally smacl smacked ed < the mm mat maiket het Let down don do\\ do don \ n and took tool " con con- conshderible considerable - siderable .Ider'lble .Iderlble Iderlble shderible ' : . con.Ider'lble ' pleasure plc.lsure plclsure . In the process 'I'll Ill ' Tlip The processTlip process'I'll processThe ' ! ' administration admlnlf.trallon admlnlftrallon : . does not "ant ant want "antany wantany " wantany any such crash at " the moment In Infact fact , all a11 it " wants .Jnts Jnts . is a sma small ) } dccHne decline declineand , and nd It does not.Jnt not \ want \\.Jnt .Jnt . that th'lt thlt ' until uutIl after J\nuar J nuar January afterJanuary afterJnuar : \ 1 1 . ' Ihe 'lhe lhe The significance slgnlfic'lnce slgnlficlnce ' of this Is that th'lt thlt ' It I.no\\ I.no I.nos knows . Itknows ItI.no plantheir \ s many ninny business e\ecuth e ecuth executives ' \ es plan their budgets aroun around the end of or De Decembet Decembei Decembci cembet cembei and nnlI at that time layout lay out theIr theIrplans theirplans theirplans plans for c cxpendltmes pendltllles etpendltutes ' : and expan510ns expansions expansionsduring expansionsduritig uriug duritig the iear year ear , . For ror l'or lor ' this process proccss the theadmlnlst theadministration theadministration admlnlst administration businessleaders businesslenders llon \ wants nnts the tlte bu'Slnes buSlnes business ' < ; leaders lenders of or the country to have h1\e h1 e hive \ all aU the theencour'lgement theencouragement theencouragement encour'lgement encourlgement encouragement ' possible ncnce IIence Hence It wll will willmake willmake ] theboom mal make e no mo\ mo move moe \ e to Interfere Interfrre with the boom so evident in the market marl.et marlet . until untilafter untilafter untilafter after Jauualy JanualY Januney 1 . Of or 0f course cour\e cour e source ' \ the administration ndmlnlstratlon e\"en e "en en even \ " eventhen e"enthen then does not want "ant ant " anythIng any tiling npproacu approaca approacning npproacuIng approacalag Ing lag debacleIt cbacleIt a confidence-destroiing confidence destroiing confcence-destroying confcence destroying confidence-dcstro confidence dcstro - - - Ing debacle cbacle It would merely1.e merely ] \ like \1.e 1.e . to see a n decHne decline decHneset declineset declineset set lu In which wlllc.h wlllch . \ would woulcl ould carry security securIl prIces securityprices , . ; stocks clocks in particular pJrtlcular , do down " n to toa toa toa a crecpin'pruercas crecpinpruercas creepingptvezeS leTcl level fiom tlom flow which a blocreepln slow blo\\ blo \ , creepln creeping , ; ' pt'U ptU ptvezeS ' ; ) , ! could be made m1de mide De next neat t xummu summll summa summllI I and faU fall PoUtIcs Polities NPoUtIcs ponies . is behind all this . The N New NewDealers NewDealers ew ewDenIers DenIers Dealers fear if It the present presentboom boom warUnues con- con contJnues continues - - the wInter Dtcr , t there thereis thereIs e tJnues tinues , \ well en through : setbac setback , in inthe Inthe normal normnl ] be the Is ] likely Il.cy Ilcy . to the summer and nnd ( fall nn . The effect elTect of ofthIs ofthis ofthis thIs on the countr country ' would be preciselyopposite preciselyopposite precisely preciselyopposite opposite to that thnt desIredThe desiredThe desired desiredThe of stock stocknl'lrlcet stockmarket SCOCKmarket The most cncol1 encouraging ging sort nl'lrlcet nllrlcet market ' movement to the country , the thelew theNew theNew l\ew l ew New \ Dealers flguie fJgUlC figure , Is the creepln creeping creepingadvance creepingadvance busi- busi business busi business - Indicates lc'1tes lc1tes Improving imprOVlDg advance It in ' ness prospects , not specula speculation tlon Bu But Butit ButIt ter a bigbull bib big bibbuU bigbull ' " after It cannot c'lnnot clnnot ' occur , ver3 very \ er well , a buU bull moement mov mo\ mo pros \ ement . , especially CSPCC111ly It if stock stocl . prices pricesha priceshave priceshave that bull bullmo bullmovement bullmovement hae have ha\ ha \ e been pushed up duung dUlIng during mo\ mo moement movement \ ement fir f1r be beyond oneI nny any sane S'lne Slne sine ' ratIo ratIoto ratioto ratioto to earnings e'1rnlngs e1rnlngs eirnings ' and dh dividendsThere's dividends dividendsThere's IdenlIs There's Theres ' the the'RubNow the'Rub theRub the'RubNow ' . Rub Now that Is wliere where the rub comes comesIn comesIn comesIn In For l'or lor I'or Ior ' ' de despite < : plte all an this talk taUt about'bre'ltl1lng about aboutbreathing " ' reassuring re'lssurlng relssurlng busi busI- busl- busl busIne buslness business - ' breathing 'bre'ltl1lng breltl1lng breititing ' spell spel ] , and ' adminis adminis- administratIon administration administration - - ne ness .s s < . , e\ e eveiy eelS every \ elS , ' one close to the tJ1e tration knows IDOs IDO\\ IDO , \ s that thnt thel theie there care are golnh goln . ; , ' to tobe tobe tobe be more taxes-after taxes after taxes - after electiOn-and electiOn and electiOnandtJmt electionandthat election - andthat tJmt that these taxes , assuming ssl1mln the Nen New NenDeal NewDeal NewDeal Deal Is continued by the voters ned next nedNo nextNov nextNovember business . Espe Espe- EspecIan Espedally Especially - - No\ No Nov Noember \ ember , will wIU fall fan on cially |