INDUSTRIAL MENACES

Northern Advocate, 23 March 1934, Page 7

INDUSTRIAL MENACES

MOTOR TRADE AND RAILWAYS ME EOOSEVELT MEETS PARTIES. ARBITRATION 1 EFFORTS. (United Press Association—By Electrk Telegraph.—Copyright.) (Received 9 a.m.) WASHINGTON, March 21. President Roosevelt today made some pi ogress with his efforts to arbitrate jm the* Industrial disputes. The railway owners and Union Brotherhood accepted his offer to avail themselves of the services of Mr Joseph Eastman, Federal railway co-ordinator, to aid in the negotiations. However, both sides indicated that they would press their respective demands. The operators wish to continue the 10 per cent, ent in wages, and the unionists insist that the cut must bo restored, with a 10 per cent, increase. Mr Roosevelt also conferred with | the motor manufacturers. It is under-i stood they are willing to grant minor concessions. They are adamant against recognition of the American Federation of Labour. The union leaders arc to go to White House tomorrow to present their side. No indication lias been given as to j whether Ihe union is inclined to end off or further postpone the order io slid ho bn Friday, MONETARY ASPECTS. WHOLE PLAN TRAVERSED. GOLD POLICIES CONDEMNED. (Received 9 a.m.) NEW YORK, March 21. At an all-day session, the Academy of Political Science thoroughly canvassed President Roosevelt’s recovery programme, particularly the monetary aspects. Mr Odgen Mills, Professor George Warren, Mr Owen Young, Mr Russell Leflingwell (one of the senior partners of J. P. Morgan and Company), and Sir Arthur Salter and Sir George Paish (British economist) led the discussions. Mr Mills pleaded for economic freedom, as opposed to the regimentation of industry. Professor Warren, who is the author of the gold-buying plan, was principal defender of the Government. Sir Arthur Salter discussed international economics in relation to politics, saying that, while he did not believe that war was near, economic warfare might lead to clashes. Sir George Paish criticised both the American and French gold policies as having brought the world to ruin, lie said that if they continued to increase their gold stocks, no monetary system would work at all. “You will reduce the world to such poverty and (listless,” said Sir George, “that there will not. be a system at all —not even a system, of government.”