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Show $ SAYS HYSTERIA kage' IS THREATENED rl ' J ; Too Great an Effort at'Econ- ' omy, Suddenly Brought On, J Would Mean Depression. I v ' WASHINGTON, April 19. Warning (o the nation against aerial clanger in jt hysterical and ill-advised economy and r interference with normal pursuits of the people is given by Howard E. Cof-( Cof-( fin of the advisory commission of the ,' council of national defense, in a staters state-rs fo- raenl mado Public tonight as the first .' J enterprise of the government's new ne'o i committee on public information. . The ' Just returned from a trip through erfer- several miudle western states,.Mr. Cof-SOffie Cof-SOffie 1 fin deplored the fact thai conditions of j unemployment and closed factories r " should arise as a result of indiscrim- yill inate efforts, public and private, to-Rich' to-Rich' ward war-time economies. The j "After nearly three years of refusal II to , to take the European war and its les-on- son seriously," Mr. Coffin says, "wo 1 to suddenly launched forth in a most fe-ivo fe-ivo a i verish activity to save the country overnight Patriotic organizations aland al-and raost without number are milling d on ' around noisily and, while intentions ' are are good, the results are often far aeel- ! from practical. if or "Because of an impending and pos- Kp. siblc shortage of foodstuffs we have 'jiS hysterical demands for economy in ev- ,I. ery line of human endeavor. Waste is S- bad, but an indiscrimlnating econonry $? is worst. fg.e Business Slowed Down. g "Some states and municipalities are j i stopping road building and other pub- pr-' I lie work. General business is being M J slowed down because of the emotional response tof the trading public to J?i, these misguided campaigns for econ- , omy; savings are being withdrawn 5F from the banks; reports show that ' some people have begun to hoard food & J supplies, and thousands of workers are tf being thrown needlessly out of employ- fcr j mont. All this is wrong. i Wvi "Wq need prosperity in war time) li$- j even more than when we are at peace, i j Business depressions are always bad,' h Jt but doubly so when we have a fight , ', :j on our hands. The declaration of war I "-) ; can have no real evil effect on busi- y j ness. What bad effects are apparent "f are purely psychologic and largely of 'j j our own making. For our markets are h the same in April that they were in fp March. We need more business, not &j less. There is real danger in hysteria. "X . Indiscriminate economy will be ruin- $ ous. Now Is the time to open the j$ , throttle. bL Patriotic Offers. wt "Every day the advisory commission JH of the council of national defense re- $k ceives offers of service from business Hr firms and individuals with requests W( for immediate information as to how ft Ms service may best be rendered. K ; This spirit is a most encouraging trib- ' ute to American patriotism. But wo gl must remember that in the great strug- I& ', glo in which we have now become a $ ' part there is much to consider besides Vj j munitions, troops and battleships. jrft "In this country of vast resources &j we already have a tremendous equip- $j ment for munitions making, built up ki on foreign orders, and now immedlate- m t Jy available through expiration of q ' these orders. Except in limited cases, 4 there is little need for tho develop- it ment of new sources of supply. Tho : , dictates of common business sens re- ' '. quire the utilization, as far as possible, of existing machinery. ' i "It seems, therefore, that, a plain j statement of general policy la most d- 5 Blrablo. Industrial Tasks. "Upon the industrial side of iho war $ ' three great tasks confront us: -. "First and foremost, we must faclli- ; late the flow of raw materials and final- ished products to our allies and must g I provide the means of rail and water j transportation therefor. tL r "Second, wo must meet our own Kll great military and naval building ff schedules. LW" "Third, we must plan to do all this p with tho least possible disarrangement p ', to our own vast commercial and Indus- jj t. trial machines. $ "Through it all wo must keep a close g ; eye upon the possible conditions of r peace following the present war." |