DONHAM SAYS RECOVERY MUST PRECEDE REFORM

SAYS PRESIDENT UNFRIENDLY TO PROFITS

Warning of dire consequences soon to follow "if reform continues to precede recovery", Wallace B. Donham '98, dean of the Business School, predicted increased unemployment and business stagnation in the next twelve months if industrial managers are not at once encouraged. The dean spoke to the Advertising Club of Boston in conjunction with the Conference on Distribution at the Hotel Statler.

"Business must expand. . .If managers on whom employment of both labor and capital depends are continuously disturbed by maladjustments and uncertainties resulting from constantly changing rules and regulations, all of us--labor, capital, managers and the great professional and service groups alike--may in despair look back on today as a time of prosperity and security."

Other Speakers

Harry R. Tosdal, professor of Marketing, spoke on "Standards for Consumers' Goods," and Carl N. Schmalz '19, assistant professor of Marketing and manager of the University's Bureau of Business Research, conducted a discussion group at yesterday's session of the conference. Malcolm P. McNair '16, professor of Marketing, gave "A Critical Appraisal of the NRA Codes from the Standpoint of Practical Application" at a previous session.

Calling for a halt to current unrest, confusion, and instability, and declaring the "need of a moratorium on strikes", Dean Donham told the ad men that "there is no chance of avoiding labor rackets and disorganization in face of sudden rapid growth resulting from government support. The labor movement is unready for the vast responsibilities thrust upon it.'

After stating his disbelief in the widespread opinion that the President is unfriendly to profits, he emphasized that "the nation needs assurance on this point." Mr. Donham declared that planning is impossible in the midst of constant uncertainly as to government attitude and action, though "too frequently governmental managers must be incompetent to handle the problems they face."