Thank you for visiting SNEWPapers!
Sign up free
Seward Daily Gateway
Seward, Seward County, Alaska
What is this article about?
President Hoover stated on April 16 that American business showed undue pessimism last week, highlighting a dozen favorable factors for optimism and prosperity. He noted an imminent five-day week in government and major industries due to retrenchment causing job losses, absorbable via reduced workweeks.
Clipping
OCR Quality
Full Text
WASHINGTON, D. C., April 16.—President Hoover, in a statement issued Friday, said undue pessimism had been shown by American business during the past week. He insisted that there were at least a dozen favorable factors working to create a more optimistic feeling and to hasten the return of prosperity.
Hoover added that a five-day week appeared eminent in both the Federal government as well as in several of the major industries. This, because the present government retrenchment program is so much larger than any other similar economy measure undertaken by any government and the resultant cut in Federal appropriations, will result in many thousands of employees being left jobless.
The only solution to this feature is the five-day week basis, under which this extra burden of jobless could be absorbed in the various branches of the departments.
What sub-type of article is it?
What keywords are associated?
What entities or persons were involved?
Where did it happen?
Domestic News Details
Primary Location
Washington, D. C.
Event Date
April 16
Key Persons
Outcome
five-day week imminent in federal government and major industries due to retrenchment program causing thousands of jobless employees; absorbable via reduced workweeks.
Event Details
President Hoover issued a statement insisting undue pessimism in American business past week, with at least a dozen favorable factors for optimism and prosperity return. Added that government retrenchment, larger than any prior, will cut appropriations and leave many thousands jobless, solvable by five-day week.