Stability by Government Regulation

Stability Public Works Programs as a Means of Controlling Employment in U.S.

"Small vision is required to see the probable opportunity for carrying on road work with profit to the public for at least a hundred years." UPPER: Shovel, trucks and tractor at work on Highway 60 near Globe. LOWER: Spreading oil mix near Holbrook. EDITOR'S NOTE: The accompanying article is taken from an address by Mr. Moorefield to the annual convention of the American Association of State Highway Officials in Milwaukee, Wis., October 9, 1933.

The fact that there is a relationship between Public Works and National Economic Stability has been definitely recognized by our Government in the Recovery Act of 1933, which provides $3,300,000,000 for prosecuting such works over a period of two years. Only about 12 per cent of this fund is specifically allocated for highway work, but judging by the prevalence and intensity of the arguments regarding the roads to be improved with the highway allocation, I should say that about 97 per cent of the public interest State Highway Engineer of South Carolina and Past-President of the American Association of State Highway Officials.

is attaching to that part of the Public Works Program. When I speak of Public Works, therefore, I have in mind principally road work.

In the same way, Economic Stability, judged from the widespread expressions of public interest, means establishing and maintaining balanced budgets. That is to say, we, as individuals, groups and governments, are not economically stable except when we are paying for what we get. During the past few years, we have all been more or less bewildered over the problem of keeping our outgo from exceeding our income. The one method, obvious to us all for maintaining a proper balance has been the reduction of expenditures, and the general application of this method has resulted in