| Show i economic highlights that affect the menet checks aud ba T tux or 5 every la N 11 dional and I 1 n tr t I 1 0 nal 1 arob r oto leini Ii iti reparable sepa bl brou r r 0 m lw a 1 welfare As AH was anticipated the appear appears anpo ance of summer pummel brought definite in III business activity early tit in july steel ingot pro duclon duchon drop tied front from 62 02 to 40 and slid from rom 82 to 39 during ensuing weeks automobile production core I 1 somewhat home what while steel stay ta ml 1 if irown own there 11 if nothing extraordinary tit in tills this but tile the question Is lifting being asked where tire we going tit in bust in it other words have we dropped to a permanently lower level or will activity rebound shortly to tle the levels of may and C in III answering that lint question quest lon varl ous us business observers vers ore are a 11 long way from agreement the annalist f for r example xa which lil cli is a cono erva th tive authority ail and Is inimical to many important lin administration measures tends to tile the bellef belief that only part of the loss will lie be recovered and that tile the fatura of lUHt bli ness la Is clouded with dolbi other oilier aken agencies cles of information are I 1 nore more encouraging althou although gl a highly y cautious note Is pronouncements and forecasts experts fix tire iro aln and as it a R lilt they ate are avoiding ns its much lucli as ai pos loss milel tj nases Ws to coming events in tile bus faess world tills this much however seems nite progress of recovery gener filly has ham been disappointingly slow the new federal buerhaus buer bue aua raus including tile have not been able to ae ac as ai much na as was hoped the la is inevitably confused cont used by government ent spending no on one knows liow how much of the rise a business busine ne sm achieved inco bince two years yeara ago life due to stimulation of this 80 doit t find liow flow enuch to gentiline gentil ite recovery it Is an ail obvious filet fact that lint it if the government puts out billions for or one kind or another of 0 relief and hit all activities from the iho building ot of dams daius to tilo the CCO camps fall au vinder under that head IHK of all a typed ot of products pra to j rime ta oln gov tn I 1 or slop tills 1 his ki hind a 0 up ending as a no G one ile knows 1 I to to what extent private enterprise ell will be able to td take up tip t the fale load joad f conservative Is ii faced with renewed 1 demanik for inflation and ana for the issuance ot flat money money tile economists na honal committee on monetary policy poliy y forecasts that with the ibe conven C ing of the hie next the prest lent dent will attempt to further deval vj 1 lj lie w the dollar and isane more curr aney against our reserve results would iw he problematical ones per sons bon view li Is about its as good as enother another in this regard but it would undoubtedly cause much uncertain ty fry during the devaluing process tit in brief business to Is suffering buffering from the summer drop plus labor troubles tron blea and there Is no doubt as aa to whether it will be able to recover at a normal speed one good sign elen to la that the strikes seem closer to settlement but the labor problem on ruse pc sow rout economic highlights continued trem from rate part one important us as it la Is is but one of many idues industry must face wo we ire are entering a crucial period and events of the next hart ball d dozen months will show where we ave as tin in industrial station nation are going the alio much opposed much defended reciprocal tariff dill bill which gives tile president the unchecked power to make agreements with foreign nations whereby we will wilf lower the tariffs on their goods dy by us OH little lucli it as ad 60 per cent pass passed 1 tile tho lost last congress on oil july 23 L alio killa chinery it created went into action for tho first time when negotiations tiati ons for a reciprocal treaty with cuba were started no piece of legislation of the last two years la Is more far reaching than tile the tariff bill or moro more potentially important the administration tion plans to use it in a vast effort to rehabilitate world trade break the international commercial deadlock that Is now teeing up tho the ports porta of the world and make the tariff nn an instrument in restoring prosperity the problems tile administration faces la in doing this are of 0 the greatest and moat involved kind for example debts and currencies most mosi debated of subjects contributed to the trade collapse they arit an iner ably involved in ili trade revival perhaps Iler haps more important still Is 16 the growth of nationalistic feeling which has stirred up much ill III will between moat of tho the great powers at any rote rate this and other countries will move very slowly in ili negotiating trade treaties early agreements i will cover but a few commodities modi ties moro afore sweeping agreements Il relating to all types of products will como come later whatever the result it Is a vital and interesting in te resting experiment it if the united states succeeds in bringing bod back world trade all powers will owe it a debt to stimulate recovery and em ji loment the administration Is pinning great hopes ot on r its new housing bill which will go into operation shortly under it a part of mortgage loans are guaranteed and interest rates lowered it is alwa supposed to benefit both leader and borrower its proponents bellevo it will iterate of private capital and provide employment for millions |
