* There will be fosiump This yenp ~ {here will be 10 Slump this yeur 1 Selita toe There wi be ng Siviny this year 17] * es e é afahhss REDTIME ST ORY SALE PLT Coming economic crisis rouses concern in U.S. A new economic crisis is overshadowing the United States and this has aroused} The Aug. 8 issue of USS. News and World Report says t U.S. “business is in an pprehensive mood” and “fear ; in the air.” What has aroused iety of the U.S over the economic surplus of capacity, particularly i drop in the produc steel, auto and other which the anx- ruling circles situation is produc- huge 1 } I ire Cc 1e tion of ir Stay of U.S. economy. , Following the ending of the steel strike last year, the oper- in-| the . 1 1 1austries oar the au are tne ot ation capacity of dustry the steel reached as high as incoming orders beginning of the USS. since of new the the year econ- bie c~ertix: | this activated However, th has been a downward trend. Compared with January this year, the recent output of the U.S. steel industry has dropped by about 30 percent. The oper- ation capacity as nounced by official circles.was _about an afl tT tion | main }reached more than 4,400,000. cent less than the correspond- ing period last year. | The state of employment has| reached its worst so far. Even| according to the announcement | of the U.S. labor department, | the number of those totally un-| employed in the U.S. has now} This figure shows an_ in-| crease of more than two mil-| lion over that before the crisis }in 1957-58, and constituted 51% | !percent of the total number of | re than 90 percent as a re-| then, | |} manufacturing, | fore the beginning of the crisis 50 percent, but a United Press| ort held that “actual oper- rep t figure.” another f preduction, the auto UP. that mobile makers “already worried about the sales of 1961 models, because of the con- ti in the used cal that a down by 12 percent compared with The building ether important said o 1ed weakness market.” industry, an- branch of in dustrial production, has slack-| the labor force. As to the number of semi- unemployed, AFL-CIO Presi- dent George Meany pointed | out recently that in the pasi| three years it had gone up by | 3.2 million, and since 1953 and Eisenhower’s assuming of- fice, the number of jobs in| railroads and mining, dropped by two mil- lion. U.S. business inventories re- cently reached $93 billion, sur- | passing the highest figure be- Ss in 1957. At present U.S. businessmen, jin view of sales difficulties, are | | placing less new orders. It is| the beginning of the year. | | the making.” important | | auto- } are| It was reported uto production has gone} ened since April last year. The} number of projects under con the four struction — in first months of this year was 19 per-|iness activities with increased ie also reported that due to the| gloomy prospect of enterprises, | some U.S. industrialists have); narrowed down the scope of| their investments. Many Americans now hold that a new crisis is approach-| ing. William Haber, economist of} the University of Michigan, says that a “recession” now, “definitely appears to be i n In the face -of the daily | approaching economic crisis,! the U.S. ruling circles are now trying hard to stimulate bus-! | tures. miliary expenditures through the aggravation of the ‘cold war” and creation of tension. The U.S. government recent- ly announced that the Douglas Aircraft Company -was named recipient of a $800 million contract to build new missile aircraft. The U.S. Congress has ap- proved additional appropria- tions of more than $600 mil- lion for military activities. At the same time, the presi- dential candidates for the two U.S. parties are clamoring for further increases in military expenditures. Democratic candidate John Kennedy has openly advocat- ed an increase of $2.5 to $3 billion of militiary expendi- to “avert” the ‘“‘econ- omic recess” which, he be- | lieves, will occur in winter this year. Republican candidate Rich- ard Nixon is also making great efforts to advocate intensified | | B.C longshoremen win” mechanization clause History was made by the recent settlement of the The outstanding feature of the agreement is a mechaniza- | |tion clause providing for an = | annual guaranteed | of work opportunity. In a nut- shell, the agreement is that men who qualify by making themselves regularly available} | for work will be guaranteed a minimum of 1,820 hours per| g | year, | 1961. commencing August 1, This is the outcome of pro- tracted negotiations around ‘the union’s demand for protection against the effects of mechan- ization. The union’s proposals} had contemplated a four-step plan under which the annual wage guarantee would become effective if other steps, includ- ing transfers, job training and early retirement failed to over- come a shortage of work op- portunity. The plan represents a new departure in that benefits of mechanization will be used to compensate those workers who would otherwise stand to suf- fer loss of work. Other plans seeking to deal with the mech- anization problem have tended to benefit only those who re- tain their employment, while doing little or nothing for the minimum | “4| International Longshoremen’s and Warehousemen’s Union | with the Shipping Federation of B.C. : men who are actually displac- ed. ample, are usually geared to | seniority in such a way that the senior men who are least | likely to be laid off would be entitled to generous benefits, | while those who are certain to lose. their jobs get Similarly, the Supplementary Unemployment Benefit plans merely provide a temporary addition to unemployment in- surance, and even ‘this is pro- portionate to seniority. Under the I.L.W.U. plan, however, all union members will be entitled to the same 1,820-hour guarantee provided they are available for work. Coupled with the mechan- ization clause is a wage in- crease of 16 cents per hour, in two equal annual instalments, and improvements in vacation and welfare provisions. An un- usual feature of the welfare settlement is that medical and insurance benefits will be: ex- tended to retired members. In effect, the union recog: nizes that. technological ad- vance is desirable, provided that it does not bring hard- ship to the employees. nothing. © Severance pay plans, for ex-. ——_* | { Bonn pamphlet lays claim to Hitler's old frontiers West Germany’s Chancellor Adenauer has authorized the | distribution by his embassy in Paris of a pamphlet which op- enly lays claim to the restor- ation of Hitler’s Third Reich frontiers. Two maps in the pamphlet show that Adenauer still har- | arms expansion and war pre-}| bors frenzied designs for an- parations. nexation of the German Dem- ocratic Republic. He blatantly classifies as “German frontiers” - certaifl areas now belonging to Pol- and and the Soviet Union These areas were the starting point of Hitler’s - aggressivé war in 1939. Adenauer considers _ that these areas are “temporaril¥ under the administration” ° Poland and the Soviet Unio» 5 — 11th Anniversary Celebrations OF THE PEOPLE’S REPUBLIC of CHINA at at 6:30. p.m .- MU 5-5836 SAT., OCT. 1 10 COURSE CHINESE. BANQUET at Marco Polo - 90: E. Pender St. Entertainment Tickets: $3.00 per person available at People’s Co-op Bookstore CHINESE FILM Special Showing at the Fisherman’s Hall, 138 E. Cordova at 1:30 and 4.30 p.m. ADMISSION—FREE Everyone is invited to attend — September 22, 1960—PACIFIC TRIBUNE—Pas® é