PRESIDENT HOOVER

Hokitika Guardian, 4 December 1929, Page 5

PRESIDENT HOOVER

ECONOMICS AND PEACE

(United Press Association—By Electric T e leg rap b. —Copyr i gh t.)

WASHINGTON, December 3

In liis annual address to the United Skates Congress, President Hoover, commenting on the National Budget, said: “The total appropriations lecommended f >r the present year ot 1931 are 3,830,445,231 dollars, compared witli 3,976,141,035 lor the present fiscal vear.”

President Hoover commented on what he termed the large degree ol prosperity tiiat the country was ( njdying, and referred to a wave ol uncontrolled speculation having resulted in a diversion of capital inn,' business to the stock market, wit jn inevitable crash. He pointed out that capital which hitherto had been absorbed by speculation was now returning to normal channels, adding: “And il, through ‘’measures we already have undertaken, we have re-established confidence, wages should remain stable.” 'The President advocates important administrative 'changes to assure the better enforcement of the Eighteenth Amendment. He indicated that an attempt would also be made to more effectively control organised crime.

REDUCTION OF ARMAMENTS. WASHINGTON, December 3. President Hoover in his annual address to Congress, said: “ The foundations for future peace are being substantially strengthened through the Kellogg-Erinnd pact.” Referring to the Court of International Justice, he said: “1 believe that it will be clear to everyone that no controversy or question in which this country has, or claims, an interest can he adhulicated on hv the World Court without our consent at the time that the question arises. Our adherence to the International Court is, ns it now is constituted, not the slightest step toward an .entry into the League of Nations. I shall direct that our signature he affixed tp the Protocol of adherence. We have joined in a conference for the further limitation and reduction of naval arms. He holds high hopes that success may attend this effort: I recommend Congress to give its earnest consideration to the' poss--hilities of prudent action which will give relief from our continuously, mounting military expenditure. A\e have undertaken never to use war as an instrument of national pdlicv. We have, therefore, undertaken ; to use tl'ese equipments solelv for defensive purposes. From a defence point of view, other forces should he proportioned to our national needs, and should, therefore, to some extent he modified by the prospects of peace, which were never brighter than today,”

MESSAGE TO CONGRESS. (Received this dav at 9.20 a.m.) WASHINGTON, Dec. 3. Mr Hoover in an annual message to Congress referring to naval expenditure, said: ‘“lf we shall ho compelled to undertake construction as implied in the Washington Arms Treaty as well as other construction which would appear to be necessary if an international agreement is not completed, we shall be committed during the next six years to a construction expenditure approximating one billion two hundred million dollars, besides necessary further increase in costs of annual upkeep.” The President contended the country could well be deeply concerned at the growing expense of national defence. While its forces were comparatively small, its expenditures were in excess of the most highly militarised nations of the world. Discussing the tariff lie asked for an effective tariff on agricultural nroYluets and some limited changes on industrial schedules. Ho reiterated that he desired the broad principle of a flexible provision of the pending Bill he retained. Mr Hoover’s views in this connection were recently disregarded by the Senate. Touching on prohibition, Mr Hoover stated the enforcement of laws enacted to give effect to the Eighteenth Amendment was far from satisfactory. A. report from Detroit states following Mr Ford’s statement in Washington, cabled on 21st November, his son Edsel announced t.\ie Company will spend twenty million dollars yeariv to raise the wages of its workers. to become effective from December Ist. The minimum scale- is now increased from six to seven dollars dailv.