FRANK DECLARES SURPLUS BROUGHT ON DEPRESSION

...High wages, short hours, and low prices will bring about renewed prosperity by rolling back the "sea of surplus" that is responsible for the present depression In business and Industry, declared Glenn Frank, president of the University of Wisconsin, in an address today before a number of prominent Industrial leaders...

...Mr...

...in my opinion, a coward's policy and a social retreat,.'' he declared...

...It Is the first general crisis that has befallen us since our machine economy has come to measurable maturity...

...It Is one of the Ironies of hLstory that the things for which labor and liberalism have pleaded through the ages.— high wages, short hours, and low prices, —are now seen to be the only things thai can keep our Industrial system a going concern...

...said Mr...

...Frank stated that the machine system of industry of today has been sinking the country Into "a sea of surplus production that we have not yet proved statesmanlike enough to use to the advantage of ourselves and of the world...

...The United States Is at the moment in the midst of the most serious economic crisis of Its history...

...To throw on the brakes on our productive capacity is...

...He said that with production and consumption out of balance, either production must be reduced or consumption increased...