PROGRESS WITH DISPUTES

Taranaki Daily News, 23 March 1934, Page 5

PROGRESS WITH DISPUTES

UNITED STATES RECOVERY RAILWAY STRIKE STILL IN AIR ADMINISTRATION ATTACKED ".CREATOR OF MONOPOLIES” By Telegraph—Pres# Assn.—Copyright Rec. 7-10 p.m. Washington, Match 21. President Roosevelt made some progress with arbitration in industrial disputes to-day. The railway owners and the union brotherhood accepted his offer to avail themselves of the service of Mr. Joseph Eastman, Federal rail coordinator, to aid the negotiations unofficially. However, both sides indicated they would press for the respective demands, the operators wishmg the ten per cent, pay cut to be continued and the unionists insisting it must be returned with a ten per cent, increase. The President had a conference with automobile manufacturers. It is understood they were willing to grant minor concessions but were adamant against the recognition of the American Federation of Labour. Union leaders will come to the White House to-morrow to present their side. There is no indication whether they are inclined to call off or further postpone the strike order scheduled for Friday. In the Senate to-day Senator W. E. Borah, citing the report of the Federal Trade Commission which states that the operation of the N.R.A. code is making a steel industry monopoly, attacked the National Recovery Act as a creator of monopolies, economically, unsound and tantamount to “economic feudalism.” 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. The Agricultural Adjustment Administration to-day projected the last of a series of processing taxes on basic farm products. It is proposed to raise £33,000,000 to £60,000,000 annually through taxes of from one to five cents. A hundred pounds of butter-fat will be distributed as benefits to dairymen in return for agreements to reduce production 10 to 20 per cent, below last year’s average. There are many complaints that milk producers are suffering from under-consumption and not over-pro-duction. Increased prices have further dislocated distribution but Mr. H. A. Wallace, Secretary of Agriculture, insists that production below costs cannot be continued and he estimates to raise the price of milk- about half a cent a quart.

RECOVERY PLAN DISCUSSED TALK ON MONETARY ASPECT Rec. 8.5 p.m. New York, March 21. In an all-day session the Academy of Political Science thoroughly canvassed the Roosevelt recovery programme, particularly the monetary aspects. Mr. Ogden Mills, Professor George Warren, Mr. Owen Young, Mr. Russell Leffingwell, one of "the senior Morgan partners, Mr. Arthur Salter and Sir George Paish led the discussions. Mr. Mills pleased for economic freedom as opposed to regimentation of industry. Professor Warren, who was the author of the gold buying plan, was the principal Administration defender. Mr. Salter discussed international economics in relation to politics, saying that while he did not believe war was near economic warfare might lead to clashes. 1 Sir George Paish criticised both the American and the French gold policies as having'brought world “ruin.” He said that if they continued to increase gold stocks no monetary system would work at all. “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.”