NATIONAL RECOVERY

Otago Daily Times, Issue 22066, 23 September 1933, Page 11

NATIONAL RECOVERY

THE AMERICAN EXPERIMENT SECTIONS URGE INFLATION (United Press Association.) (By Electric Telegraph—Copyright.) WASHINGTON, September 21. President Roosevelt received delegates from the Cotton Conference to-day, but with the definite understanding that the discussions would be on “ a specific and immediate plan for cotton relief,” and not inflation. Senator Thomas refrained from going to White House with the delegation, pleading previous engagements, but observers have professed to see a possible, break with the President over inflation. President Roosevelt and Mr Wallace’s apparent anti-inflation stand had immediate political repercussions in agricultural sections. The lowa Farmers’ Union, meeting in convention at Des Moines, circulated a petition demanding Mr Wallace’s removal. They threatened to revive the farm strike that would “overshadow anything ever seen in this country.” If the recent threats of inflation failed to send securities upward, indications that any such plans would be held in abeyance had a depresing result on all markets. Stocks were off one to six points, wheat off 5 cents, and other commodities sympathetically weak. After a strong rally early in the day the dollar sank sharply, closing approximately at yesterday’s levels. LABOUR CLAUSES OF ACT. I CRITICS DENOUNCED. WASHINGTON, September 21. (Received Sept. 22, at 11 p.m.) Mr Green, president of the American Federation of Labour, issued a statement denouncing critics of the National Recovery Act labour clauses. He says that the Act does not prevent the closed union shop, that is the shop which gives the workers their freedom to organise. The critics are dismayed because wageearners are no longer under the necessity of paying tribute to a company. COAL AGREEMENT SIGNED. WASHINGTON, September 21. (Received Sept. 22, at 11 p.m.) The Northern Coal Control Association and' the smokeless appalachian group, representing more than 70 per cent, of the United States soft coal tonnage, to-night signed a labour contract with the United Mine-workers of America. HOURS AND WAGES. A FAVOURABLE ANALYSIS. WASHINGTON, September 21. (Received Sept. 23, at 0.30 a.m.) What is described as a highly favourable analysis of the wage rate increases and the working week, indicating the success of the National Recovery Act, officially shows that the average hourly earnings have increased from 42.7 cents to 58.5, while the average hours of the working week have dropped from 42.3 to 38.6 in 89 industries. Codified industries showed a striking contrast, the most outstanding being cotton and textiles, the increase in wages being from 23.2 to 36.1 cents, and the decrease in hours from 49 to 36.5. President Roosevelt authorised the Agricultural Adjustment Administration to buy upwards of 75,000,000 dollars’ worth of surplus food and clothing supplies for distribution among the unemployed. His action is a direct reply to critics of the American system, who noted the paradox in a wealthy country with huge surpluses of basic commodities while millions go hungry and ill-dad. The policy affords adequate assistance for 3,500,000 families on the relief rolls.