INDUSTRIAL DISPUTES

Otago Daily Times, Issue 22219, 23 March 1934, Page 9

INDUSTRIAL DISPUTES

EFFORTS AT SETTLEMENT PRESIDENT’S INTERVENTION. WASHINGTON, March 21. (Received March 22, at 8 p.m.) President Roosevelt made some progress in the arbitration and industrial disputes to-day. The railway owners and the union brotherhood accepted his offer to avail themselves of the services of Mr Joseph Eastman, Federal rail coordinator, to assist in the negotiations unofficially. However, both sides indicated that they will press their respective demands, the operators wishing that the 10 per cent, pay cut be continued and the unionists insisting that it must be returned with a 10 per cent, increase. The President had a conference with the automobile manufacturers, and it is understood that they are willing to grant minor concessions, but are adamant against recognition of the American Federation of Labour. The union leaders will come to White House to-morrow to present their side. There is no indication whether they will call off or further postpone the strike order, scheduled for Friday. In the Senate to day Senator Borah, citing the report of the Federal Trade Commission that the operation of the N.R.A. code is making the steel industry a monopoly, attacked the Recovery Act as a creator of monopolies, and economically unsound and tantamount to “ economic feudalism.” He said that through the “ Iron and Steel Institute ” the major steel companies were_ fixing prices, which were rising too rapidly in comparison with others, to the detriment of national recovery.

RECOVERY PROGRAMME,

THE MONETARY ASPECTS,

NEW YORK, March 21. (Received March 22, at 9 p.m.) In an all-day session the Academy of Political Science thoroughly canvassed the Roosevelt recovery programme, particularly its monetary aspects. Mr Ogden Mills, Professor George Warren, Mr Owen Young, Mr Russell Leffingweli (one of the senior Morgan partners), Mr Arthur Salter, and Sir George Paish led the discussion.

Mr Mills pleaded for economic freedom as opposed to the regimentation of industry. Professor Warren, who was the author of the gold buying plan, was the principal administration defender. Mr Salter discussed international economies in relation to politics, saying that while he did not believe war was near, economic warfare might lead to clashes.

Sir George Paish criticised both the American and French gold policies as having brought world “ ruin.” He said that if they continued to increase gold stocks “ no* monetary system will work at all, and you will reduce the world to such poverty and distress that there will not be a system at all, not even a system of government.”