INDUSTRIAL PLAN

Hokitika Guardian, 18 August 1933, Page 5

INDUSTRIAL PLAN

SETBACK IN tJ.S. A.

' DIFFICULTY IN CODE FORMATION

(United Press Association— By Hectrio

Telegraph—Copyright;

NEW; YORK, August 16

A variety of unfavourable: factors,

which are ; ’,' culminating., threaten.Presi- ' dent Roosevelt’s .' - national recovery scheme.:,--Its severest ( shock iis an extreme difficulty in . .formulating trade codes for. the four giant-American industries, .petroleum, ; steel, coal and automobiles. Moreover, , labour difficulties seemingly are- flaring. up again on diverse fronts. A . v-A,:. r,‘y r

Some' ’ sixty thousand dressmaker® went on strike to-day in. New York city against what the,union leaders called sweat-shop conditions. It is impossible also to/ reach an agreement with ten thousand fruit pickers, ’ wlio are demanding, in most cases a" double wage scale. . Tl'ie basic barrier to the codification of the four major industries mentioned above seems to .he the desire of these industries, particularly that of petroleum, for some form jof, Government fixing of minimum prices, Other individual difficulties , include a dispute between labour and. the management bf the -steel industry,; the first opposing : and the second upholding company " unions as. against trade unions. '’"A

The automobile code is being dolayed due'to the present failure of Mr Henry Ford to . indicate his attitude in the field where he is one of the greatest employers /of labour in America.

A further serious blow'to the President’s hopes occurred to-day with a shap drop in commodity prices. As the pegging regulations' and the Chicago Board, of Tradewere withdrawn, an accumulation of selling orders caused prices to collapse. No support developed during the day. Wheat closed off f»hout five, cents, and cornflour. and other grain's! proportionately. New Yoidf stock exchange prices weakened .. sympathetically, * and closed , off one .to.five down 1 : ° There is a continued strengthening of the dollar in the terms of .foreign currencies, with a. corresponding weakening of domestic com, modify prices. This is -;onu sin,/ , concern. .Tlmrp is' a growing-dcrpand; for outright inflation.. However.'President Roosevelt is reluc-, taut te.ytiuker with icurrency unless it ife absolutely necessay. ,