TO DEFEAT SLUMP

Gisborne Times, Volume LXXIII, Issue 11830, 11 January 1933, Page 2

TO DEFEAT SLUMP

RESEARCH, INVENTION AND LABOR-SAVING DEVICES VIEWS OF AMERICAN BUSINESS LEADERS (U.P.A, by Elec. To’. Copyright.' NEW YORK, Jan. 9. Uninterrupted development in research, invention and labor-saving deices as a mean's of improving production and creating new needs of industries, with enlarged employment opportunities, is the road out of the depression toward the new prosperity, according to the view of 150 leaders of American life in the fields of research and industry, engineering, economies, education, and finance, made public to-day by Mi* Alfred P. Sloan, jnr., president of the General Motors Corporation. These views are contrary to these expressed in somo quarters, notably the advocates of technocracy contained in telegrams addressed, to Mr Sloan in response to an inquiry Irom linn. ' L ■’

Ho announced that, his own corporation would follow the principle- of ttffprowod procuration. Its research appropriations for 1933 would ho the largest in it’s history. Asked whether the views expressed by himself and tho 150 leaders wore to be taken as an answer to technocracy, Mr Sloan said; r ‘We did hot have technocracy in mind,, hut these views may. well bo taken ag an answer.” • ~ ' ' ■!