CAUSES OF DEPRESSION

Evening Post, Volume CX, Issue 133, 3 December 1930, Page 11

CAUSES OF DEPRESSION

EFFECTING A CURE

CO-OPERATIVE EFFORT

WASHINGTON, 2nd December. President Hoover's annual Messag* to Congress dealt principally with domestic affairs, tho single outstanding reference to foreign relations being the following statement: — "I shall lay before the Senate in a, special Message the statutes of tho World Court which have been revised to accord with the sense of previous Senate reservations." In an extensive review of the economic depression, the President covered mostly old ground, blaming the internal inflation -of 1928, last summer's drought, and fall of commodity; prices throughout the world. In outlining tho efforts of the Government to remedy the situation, ha uttered this warning: "Economic depression cannot be cured by legislative action or executive pronouncement." He asked for co-operative effort to restore the nation to its old level, -which, economically, was 15 to* 20 per cent. higher than at present. The remainder of' the Message wai taken up in minimising the amount of unemployment, indicating that tho Budget deficit would be 180,000,009 dollars as a result of the depression, and advocating a continued restriction, of immigration and the strengthening of the Deportation of Criminal Aliens laws. "