Word: coding
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With pride the cotton textile industry points to itself as the biggest single industry in the U. S., because it employs more workers than any other. With equal pride NRA points to it as the first industry to take a code, the first to abolish child labor, cut hours, raise wages. So neither the industry nor the Administration could last week read with equanimity reports that every single employe of the U. S.'s biggest industry would soon be without a job as the result of a "national cotton textile strike," called by the United Textile Workers of America, affiliate...
Four days later Mr. Sloan had an even bigger project afoot. One of the better things desired by many mill owners, who had been having tough sledding for years, was surcease from cutthroat competition. President Sloan called his Institute members together and suggested that they form a code of fair competition. On that day General Hugh Johnson was still an unknown lieutenant of a famed speculator named Bernard Baruch. An offer from the Institute was sent to the President and a month later, before the Recovery Act was passed, Mr. Sloan marched into the White House and slapped a draft...
...easy task had Mr. Sloan in getting three-quarters of his industry to agree to a code that outlawed child labor in the mills, cut working hours from as high as 55 to 40 per week, set a minimum wage of $12 in the South, $13 in the North. On July 17, the day his code went into effect, he made his stirring declaration: "Someone had to pioneer...
...outstanding example of effective self-government and planned production in industry." To prevent "seasonal overproduction" the cotton textile industry would reduce its December output by 25%. There were good excuses for this failure of purchasing demand besides the increased price of cotton goods. In May and June before the code went into effect, buyers anticipating price increases had stocked up with large quantities of cotton goods which had to be sold to the public before steady demand could be resumed. And since the textile code was the first of its kind, it was necessary for the industry to wait until...
...gravestones. Around & around the Hall walked dozens of joking, back-slapping businessmen who eyed each granite block with official pride. They tramped into a private dining room, sat down to a banquet at which no one made a speech. For five days they haggled over code chiselers, discussed new ideas on designs, talked about cashing in on their backlog. Gravestone sellers all, members of the Memorial Craftsmen of America, they wound up their annual convention in the hotel taproom and went home with schemes for carving out more business from the living and the dead...