“PARLOUS SITUATION"

Ashburton Guardian, Volume 51, Issue 25, 10 November 1930, Page 5

“PARLOUS SITUATION"

UNITED STATES ECONOMIES*

UNEAIPLOYAIENT INCREASING

United Press Association —Copyright.) ■ WASHINGTON, Nov. 8. } Following on President Hoover s post-election announcemtnt, that the iob before the American people now is concentration upon further measures for economic recovery, the 1 resident made another announcement to-day, that he will ask Congress for a special emergency appropriation of a yet undetermined amount for expediting unemployment relief through public works, and for a free distribution of seed to farmers. With the total building programme under way comprising £IOO,O(K),UUU, the new funds will be utilised for further and more ambitious undertakings. . , , A statement has been issued by seven national leaders of tlie Democrat Party, including Air Allred ESmith, Mr Davis and Air Cox, declaring “that the country laces a parlous situation,” and pledging that the Democrat members or Con-o-jess “will not seek to embarrass the President, but will be glad to co-oper-ate with him in every measure that conduces to the welfare of the country ” The statement lias aroused the resentment of the Republicans, and a statement from Democrat Congressmen against their leaders’ interxerence in Congressional affairs. This exchange lias merely emphasised tlie disturbing fact that neither political, party will control Congress, and that the legislative uncertainty and the indetermination of the election are confusing the nation and seriously disturbing business. , Wall Street, which is the country s most impressionable barometer, has been selling down every day since the election. Stocks slipped sharply m heavy selling to-day, fifty representative "issues touching their lowest average for more than three y e ai s._ In the meantime it is interesting to note how official sources are slowly increasing their unemployment estimates. Several months ago the Government figures were 2,500,000, as on the census compilations in April. A fortnight ago 3,500,000 were conceded, and to-dav the figures, which admittedly are officiaj, are 4,000,000. . The Department of War has authorised the use o'f army cots and blankets for the destitute. Efforts throughout all the large cities to concentrate for the coming winter’s charity needs, as differentiated from providing jobs, are being increased. In certain quarters, moreover, there has been an open demand for a national dole.