DEPRESSION IN AMERICA

Wanganui Chronicle, Volume 73, Issue 439, 3 December 1930, Page 7

DEPRESSION IN AMERICA

MESSAGE TO CONGRESS

CAUSES OF SLUMP NAMED

STATEMENT BY PRESIDENT I By Telegraph—PrWßs AaaociaUoa—Copyrlsht.l Received Dec. 2, 5.15 p.m WASHINGTON, Ltec. 2. President Hoover’s aanusl message Congress dealt principally with domestic affairs, the single outstanding reference to foreign relations being the statement, “I shall lay before the fcleuate in a special message the statutes of the World Court, which have been revised to accord with the sense of the previous Senate reservations.” In an extensive review of the economic depression, the President covered mostly old ground, blaming the internal inflation of 1928, last summer’s drought and the fall of commodity prices throughout the world as the causes. Iu outlining the efforts of the Government to remedy the situation, he uttered the warning that “the economic depression cannot ue cured by legislative action or executive pronouncement.” Ho asked for co-operative effort to restore the nation to the old level which economically was 15 to 20 per cent higher than at present. The remainder of the message was taken up in minimising the amount of unemployment and indicating that tho Budget deficit would be 180,000,000 dollars as a result of the depression, and advocating the continued rcstlietion of immigration and strengthening the deportation of criminal aliens laws.