METAL GOODS TOO HIGH
President Roosevelt Defines New Policy PUBLIC WORKS PLAN (Received 5, 8.45 a.m.) WASHINGTON, April 4. When Mr Roosevelt told the Press conference he considered durable goods made of steel and copper were priced over-high, the market reacted quickly, steel, copper, rubber and rail shares leading the down swing. The President advocates Government encouragement to consumers of goods by curtailment in buying. He said his policy would mean the abandonment of the construetion of steel bridges, dams, and other heavy Public Works, whereia a high proportion of the cost represented materials. The Government would concentrate on other relief projeets such as earth dams and channeJ dredging. Senator Wheeler has protested against Mr Roosevelt's curtailment proposal. He said he did not agree with the President that the price of copper was too high. Curtailment of buying would threw miners out of work. The price could only be reduced by cutting wag&s of miners in Arizona to a scalo wliere they would have to compete with the slave labour of Africa and the peons of Mexico.
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Hawke's Bay Herald-Tribune, Issue 66, 5 April 1937, Page 7
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177METAL GOODS TOO HIGH Hawke's Bay Herald-Tribune, Issue 66, 5 April 1937, Page 7
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