Regional President Speech

IHE COMMITTEE FOE ECONOMIC DEVELOPMENT by Karl R. Bopp, Research Director Federal Reserve Bank of Philadelphia Before the düsen1 s Council on City Flanning at the University Club Monday y August 23# 1943 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis THE COMMITTEE FOR ECONOMIC DEVELOPIkiENT Background of the C. E. D. 1. The national job ahead of us. A. The Department of Labor estimates civilian labor force of 57g million by 1%6. B. Gross national product of $1^2 billion at 194-0 prices. C. Assist 3>100,000 private enterprises in achieving this goal. 2. The Philadelphia job A. Ay 511 factories B. 225,000 wage earners C. $lj billion value of products (1939) D. Income $3«2 billion The approach 1. Concerted industrial attack upon the prob­ lems of production and employment - industry by industry and community by com­ munity. 2. On the national level A. Research division working in two broad fields. a. Governmental policies (1) War contract renegotiation, termination, plant ownership, demobilization, taxation, and the like. Digitized for FRASER "Climate" for private enterprise http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis - 2 - (2) Government part in productive activity. b. Areas of activity for enterprise to serve the common good. (1) Source of jobs and income (2) Availability and use of credit B. The field development division a. To stimulate and assist all com­ panies in all communities to prepare now for the immediate and the post­ war future. b. To provide the "know how” kit of suggested application with respect to (1) Organization (2) Appraisal of post-war markets - employment - income (3) Workers and productivity local level - Philadelphia County A. The action committee a. To sell the importance of getting post-war plans started. To stimulate and assist business to reach national goals. b. To interchange ideas and information through panel discussion and personal interviews. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis - 3 - B. Public relations committee a. Press b. Radio c. Speakers C. The research committee a. Determine the nature and size of tt>e job Estimated Total Employment. Labor Force, and Unemployment in Philadelphia Estimated totals Employment 193 9 . 22^,609 194 0 .......... 256,409 377,123 295,464 Labor force 391,417-x 50,810 > 65,104 Unemployment Post-reconversion total.......... 95,953 b. Induce action on basis of facts c. Interpret "Confidential Memorandi^n”^ y- ___ Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis u - - [. Alternatives in meeting the problem 1. Government as a general employer A. Past experience - inadequacies B» Would mean basic changes 2. The private enterprise to provide jobs A. Concerted action through individual efforts B. Recognition of broader vision 3- Cooperative efforts - management, labor, Government A. Adaptation and continuance of great experiment B. The war effort shows the job can be done C. Post-war survival Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Karl R. Bopp (1943, August 22). Regional President Speech. Speeches, Federal Reserve. https://whenthefedspeaks.com/doc/regional_speeche_19430823_karl_r_bopp

@misc{wtfs_regional_speeche_19430823_karl_r_bopp,
  author = {Karl R. Bopp},
  title = {Regional President Speech},
  year = {1943},
  month = {Aug},
  howpublished = {Speeches, Federal Reserve},
  url = {https://whenthefedspeaks.com/doc/regional_speeche_19430823_karl_r_bopp},
  note = {Retrieved via When the Fed Speaks corpus}
}