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    "label": "7-12-54 Bolton Landing, N.Y. Governors Conference",
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    "title": "7-12-54 Bolton Landing, N.Y. Governors Conference",
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        "Pre-Presidential Papers of Richard M. Nixon",
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    "seq": 46,
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    "ocrText": "174\nState Government\nthe 1955 legislative sessions. (See page 175 for text\nrecommendations for federal-state cooperation on\nof resolution.)\nthem, occupied much of the concluding round table\nFurther extensive discussion of highway problems,\nof the Conference, on Economic Development. Sum-\nwith special reference to President Eisenhower's\nmary of that round table follows.\nEconomic Development\nFOURTH round table, on economic develop-\npendent on textiles and jewelry, both of which are\nT\nment, was held on Wednesday morning with\nrelatively elastic and unstable products. Through\nGovernor Christian A. Herter of Massachu-\ndevelopment councils in Rhode Island, as in other\nsetts presiding. He called immediate attention to\nhighly industrialized New England states, move-\nthe great variety in the economies of the states and\nments are under way to diversify industry.\nto the difficulty of coping with all of them simul-\nConsiderable attention was devoted to the mining\ntaneously. Yet all states shared the desire for maxi-\nindustry in various sections of the country. It was\nmum employment and productive opportunity with-\npointed out that demand for soft and hard coal has\nin their borders. \"We are naturally very much con-\ndeclined sharply, and it was said that imports of\ncerned with the policies of the federal government,\"\nresidual oil from foreign countries might need to\nsaid the Governor, \"because they affect, in large\nbe curtailed in order to help the coal-producing in-\nmeasure, the economy of the country as a whole.\"\ndustry. On the other hand, some Governors felt that\nGovernor Herter called upon Dr. Gabriel Hauge,\nrestrictions on importation of residual oil would\neconomic adviser to the President, to open the dis-\nhurt expanding industries in other sections. In the\ncussion with a review of the present economic situa-\nWest the emphasis was primarily on the mining of\ntion and comments on its trends.\nminerals other than coal. To a significant degree,\nDr. Hauge asserted that the retreat from the high\nlead and zinc production in the United States, it\nlevels of economic activity of a year ago had stopped.\nwas stated, was depressed, particularly SO as a result\nHe felt that the economy now was catching its\nof the fact that 50 per cent of our lead and zinc is\nbreath for a new advance. Favorable factors included\nimported from foreign countries. Several Governors\nfailure of unemployment to increase significantly,\nstated that we could not compete with foreign met-\nlengthening of the work week, strengthening of\nals, but they were aware of the international prob-\nretail buying, rise of the stock market, stability of\nlems involved.\ntotal output, increase in construction contracts\nThe slackening in automobile sales, it was ob-\nawarded, and a downward trend in savings deposits\nserved, had resulted in unemployment for some\nas a result of heavier buying. These and similar\n200,000 workers in Michigan. One suggestion for\nindices, the speaker summarized, indicated that the\nhelping the situation called for elimination or low-\nreadjustment was over.\nering of the federal excise tax on automobiles. As\nDr. Hauge took the position that the government\nregards the agricultural situation, it was noted that\nshould attempt to insure a steady upward trend in\nthe buying power of the farmer had been cut\nthe economy but should not try to iron out every\nsubstantially in recent years. Discussion of policy\nwrinkle in the upward curve. He estimated that\npointed up the question of mounting surpluses in\nfrom its present level of $357 billion the gross\nbasic agricultural commodities.\nnational product could be raised to $450 billion in\nRepeatedly Governors emphasized the high inter-\nthe next five years. He cited the St. Lawrence Sea-\ndependence of farming, mining, manufacturing and\nway, and the President's suggestion of road develop-\nother industries. Several Governors laid special stress\nment totalling $50 billion in ten years in addition\non the need for fact finding concerning the econo-\nto current normal expenditure, as elements for a\nmies of the forty-eight states. An economic con-\nprogram of national economic growth.\nference formed in one of the states was cited by\nDiscussion followed on economic conditions with-\nits Governor as a constructive step; he believed that\nin individual states. In general it appeared that\nsuch conferences in other states could assist in eval-\nemployment and income are high, though not as\nuating the economy throughout the nation. The\nhigh as during the Korean conflict. Particular indus-\nGovernor added that comprehensive data should be\ntries in a number of states, however, were experi-\ndelivered to the Council of Economic Advisers in\nencing serious unemployment and lowered produc-\norder to provide an accurate picture of the situa-\ntion, and efforts were being made to diversify the\ntion in each state, SO that intelligent action could\neconomies. For example, it was pointed out that up\nbe taken for economic growth.\nto now Rhode Island has been almost wholly de-\n(Continued on Inside Back Cover)\nReproduced at the Richard Nixon Presidential Library and Museum"
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