Word: laboring
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Dates: during 1920-1929
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...Federal Reserve banking system stabilizes the U. S. money market. Might not some form of "reserve" be set up to stabilize the U. S. labor market-a national job reserve...
...markets would be steadied if the governmental agencies of the U. S.-federal, state, municipal-would map out and authorize large programs of public work which will be needed eventually though not immediately. Let these programs then be held in abeyance, said the collaborators, until such time as labor and fiscal indices show or predict a slump, local or national. Then let the contracts, hire the men, buy the materials, do the public work, convert the slump into a boom...
...twinkling of an eye" and "like the house that Jack built"-the job reserve is to consist of some three billion dollars worth of public construction projects on paper. Getting the projects off paper, translating them at judicious moments into sweat-producing, belly-filling, back-covering jobs for labor, and into cash-registering orders for business will depend upon the extent to which federal, state and municipal legislative bodies and officers can be persuaded and helped to "cooperate" (Hoover's favorite word). Also, patience and discretion will be required in large quantities to discriminate between public works needed...
...Orleans last week went the delegates of U. S. trade unionism to attend the 48th annual convention of the American Federation of Labor. Justly they felt important, for they represented more than 3,000,000 of the citizenry. The convention opened with overtones of optimism. Labor had heard about President-Elect Hoover's scheme to prevent unemployment, as outlined by Maine's Brewster at the New Orleans conference of Governors (see p. 13). Of this scheme William Green, President of the A. F. of L., had said: "It is the first definite movement to systematize wages & employment...
President Green was also jubilant at the progress made with labor's policy of the five-day, 40-hour week. Said he: "A total of 165,029 members of organized labor have won this new advance...