WAGE REDUCTIONS

Press, Volume LXVII, Issue 20351, 25 September 1931, Page 11

WAGE REDUCTIONS

* ■ POLICY IN UNITED STATES. DIFFERENCE OF OPINION. (UNITED riIKSS ASSOCIATION—BX ELECTRIC TELEGRAPH—COPYRIGHT.) WASHINGTON, September 23. President Hoover's anxiety to maintain tli© present standard of living is said at White House to bo unaltered, in spito of the wage-cuts, which were regretted in Administration quarters. Though there was no Official statement forthcoming, in somo high official quarters there was a disposition to think that the steel and automotive industries had taken a lead towards a retrenchment policy just at a time when recovery from tho depression was in sight. Officials pointed out that as the depression had gone forward a steadilyincreasing amount of savings had accumulated in tho banks. The opinion was expressed that tho time had about come when wage-earners and smallsalaried people would begin to spend, with an inevitably favourable trade effect.

PLEDGE BROKEN. LABOUR LEADERS' ASSERTION. (Received September 24th, 8.20 p.m.) WASHINGTON, September 23. Mr William Green, president of the Federation of Labour, in a statement says: "It is morally wrong and economically unsound for the United States Steel Corporation and other concerns to make reductions in wages." Ho declared that no greater blow had been struck against the effort being made to return to prosperity. Ho alleges that tho solemn pledge given by •President Hoover in 1929 had been broken. LABOUR RESISTS. NEW YORK, September 23. The announcement of impending wage-cuts in tho steel, motor, rubber, and copper industries was subjected today to a variety of interpretations. Organised Labour proclaimed its resistance. Some financial writers attributed to unnamed business leaders the belief that the step would hasten the revival of business. The corporations announcing cuts included United States Steel, General Motors, United States Rubber, American Smelting and Refining Company, and. Utah Copper Company.