HOPES OF TRADE REVIVAL.

Press, Volume LXVII, Issue 20168, 21 February 1931, Page 3

HOPES OF TRADE REVIVAL.

* PROSPECTS IN UNITED STATES. i Tho reemployment of "more than 50,000 men in the ranlway, steel, motor-ear, and other industries 1 early is January has aroused ft -hope that the United States is Hearing the. starting.point «£ a new eyele which will lift the country slowly ;but surely out of the depths of its busiags# doprsg#on, . WalJ street; iif .the, .first to*,ob-. serve discount* chftngefr ,in, economic, conditi«hs, has been fci a cheerful mood since -the New, Tear "opened, and lea£s to the -belief that, the great business activity is something more than th« cußtoinarj' spurt which follows the yearetfd "shut-down for inventory purposes.' Steel mill operations are being.,Stimn-" lated in an impressive' fashion, largely due to activity, in the 'motorcar in-dustry,-which in the United.States and Canada . during.' December , piqdijctyfr 16.000 more ears, than in' Novembeiw , Trade in 1930 had -.uak, to sucjr low depths some economises now boldly predict a rebound'as the result, of Banlc|rs also emphasisb that the sayings -banks of the country, with their "■&2,000,000,000 assets, are in a splendid conditioh to care for all>he, f dit requirements'of' revived industry. The fact'that IOijOOO former , employees were taken 'back by the raUj ways in th« Chijrgo. district is to , by ..some , ai\ a> ..plain indication tuat biwinesß in th«, West, which has, caused- aiqdety, 'is now picking up. The Uew Central Railway, ther Southern Pacific, "and the Santa F6 all announce the toemployment of aen ranging from ,1000 to 3000. In, the manufacturing district Of Pittsburgh, , the,' -unusually r large; have been, taken 7 on or will be re-em-ployed in the course of the next few weeks. , , .. President - delivered an -address to members of tho National Automobile Chamber of Commerce, in NewYork, last month. While not breathing unbounded optlm - ' n, he declared .that tho desponi ency of some eople over,) the future was no : borne oiit by,. the statistical evidence, or by the prospects in respect to the motor-car Industry. l Despite .last year's business depression, the President • said, Americans' manufactufed and sold motors, and he assumed that the rqillions who bought them "are not using them to' ride to the. poorhouse." Most observers hei„ aro, inclin'ed j to agree thatr. the reviv in business will be' based upon a more general realisation of the cmptine/t of merchants' shelves. It' the Government desires to give he movement an impetus and make an industrial ■ revival here and abroad 1 a certainty, economists urge it will take steps'to',declare"a moratorium on tho war debts, modify Prohibition so as to give legitimate-, employment to hundreds and thousands of men and wom«.., a 4 the ramu time increasing the Government revenues; md suspend the praptice~of retiring its own war bonds until normal production, and normal con? ignptidn have returned to all branches of * imm rce -and industry^ On the other, CoL- w oods, chairman of ■ the' Employment-- Commission, giving evidence before*+\e Senate Appropriation Commission, estimated that there were now * between' 4,000,000 and 5,000,000' 'unemployed in the States, and said he saw no likelihood of any improvement in the situation until the spring. ... :