The Washington times., 1927-12-22

That being so, why permit ira
dition TO disturb the even flow of
industry and the even flow of
high wages?
No Reason for II
We have progressed some since
Frank w. Vanderlip aptly called
US "a nation of economic litter
ates.' We now know more; we
now have more: we should not be
easily frightened by ghosts. The
world war and the period since
have smashed many traditions.
Why not resolve to smash to
smithereens the tradition that a
presidential election year must
necessarily and inevitably bring
depression?
AS matter of fact, presidential
years. have not always brought
depression. And there is less rea:
son this time than ever before
to become scared over how the
two major parties will act or
whom they may nominate.
Millions of Economists
The last dozen years has trans.
formed millions of economic il.
literates" into economists-at least
into persons directly interested
in elementary economics by rea-
son of the fact that they them.
sevles have become property own.
ers, bondholders, stockholders,
etc.
Labor leaders in the old days
often felt that Capitalists" were
their enemies and that the logi.
cal thing to do was to be anti.
capital. Most of our present.
day labor leaders as well as
majority of their followers have
advanced beyond that stage of
economic ignorance and misun.
derstanding. They realize that
unless industry and business pros
per they themselves cannot hope
to prosper. They now see clearly
that unless industry and busi-
ness take in money they can.
not pay it out in wages.
Incidentally-and very impor-
tant-this new, sound knowledge
has smashed the tradition that
the less work toilers do, the
more jobs would be furnished.
The majority of workers, as well
as the American Federation Of
Labor, no longer advocate a
canny policy, but frankly be.
ieve in a good days work for
a good days pay.
Can it not therefore, be taken
for granted that neither the
Republicans nor Democrats will
nominate a firebrand. an advocate
of policies aimed at injuring in
dustry and business? Those
who pull the political strings
know full well that any candi-
date who would be widely re-
garded as likely to upset busi-
ness, and thus upset employment.
would stand mighty little chance
Of being elected.
Candidates for 1928
Who are the men most promi-
nently mentioned as presidential
possibilities?
On the Democratic side. Cover.
nor Smith Of New York, ad.
mittedly stands out most promi.
nently. Well Governor Smiths
administration Of affairs Of New
York State Is not regarded by
responsible business citizens as
unfair, inimical, injurious to busi-
ness. The preponderating verdict
is that he has made an excellent
chief executive Of the Empire
State.
Governor Ritchie Of Maryland
looms perhaps next in prominence.
Have you ever seen him depicted
as a rampant, swashbuckling en-.
envy of business? He isn't. In.
deed, he is an ardent champion
of putting an end to the delegation
of more and more power to the
Federal Government and q fore
most advocate of States rights
This attitude has the cordial sup
port of most business men.
Not one OF the Republicans now
named as possible standard.bea
ers can be considered unsafe
from the business point of view,
Secretary of Commerce Hoover
apparently in the lead. has thor
ough mastery of business prob
lens and could be depended upon
to give an administration calcu'
lated to enhance national prosper,
ity--he has done much towards
that end in his present office.
Vice President Dawes is a bank.
err and business man. True, he
has ideas of his own: he isn't
/