Show hoover would survey rubber supply PROPOSAL that tho the american government investigate tile the production possibilities of the philippines and south america was indorsed endorsed Indor sed publicly by secretary hoover after lie had bad conferred with representatives of brit lili ish rubber producing interests nil and Sec secretary hoover indorsed endorsed Indor sed the pros dosal in a lette to senator mccorm mccormack ck lck t rep in spite of assurances from tho the representatives that the only object of recent british legisla tin restricting rubber production in the me colonies ans aaa to esta establish a price joi to insure it sura creaso reasonable hable returns and c expansion x of rubber plantations representatives of tile tho american of crude rubber said they were desirous of obtaining an nde aile gun quade fl e sturn return to the producing indus tr yh feared fen rl A that the restriction P alft rf would id stimulate speculation and runaway prices which would be disastrous brou trou s to british producers by again overproduction over luction with alti ulti balb mart collapse in prices this they sad aau would in turn injure american consumers con gli speculation und and losses loies 1 aho rho british representatives replied that tho ille te strict lye legislation had ea been necessitated by the virtual collapse of the industry owing to prices below cost of production they said their association would do nil all in its power to prevent prices after pointing out in lila ilia letter that the united states consumes 75 per pep cent of the crude rubber produced in fit the world while roost most of the rubber producing properties uro are controlled by the british secretary hoover said it Is highly desirable I 1 that tills this do dc the depar of commerce should be pieced in position where wo we can make tin nil exhaustive investigation vesti gation covering a wide variety of subjects such na as areas of possible production land and labor laws labor supply transportation taxation production costs profits security of Invest investment inept etc |