Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-05
TRADE GAINS TO DECIDE
PRESIDENTIAL ELECTION
Debt Proposal Restores Hoover Prestige
and Turns Tables on Democrats, but
Campaign Business Will Rule in 80.

| occasion for criticism. In the Congress
that sits next December will be contro-
versial issues: taxation, for example.
Politics in due course will be as bellig-
Grant as is at all times its normal state,
whether the Republicans be- In power
with the Democrats attacking or the
Democrats in power with the Republic
ans attacking. as during the late years
| Of woodrow wilson's administration.
No matter what happens. even in the
event that Mr.. Hoover's step about for
| eign debts should fail to be the solution
of business depression. even in the i'm
probable event that the state of bust
ness should slip back to what 1t was
! before Mr. Hoover acted-even so. Pres
ident Hoover will retain for hin6elf
good times or bad times, some of the
asset he acquired by his fortnight act
of leadership
1t was really the courage of Mr..
Hoover's step that counted. both for
himself and for the state of the world.
1t was the inherent quality of gallant
leadership that caused the reversal Of
sentiment which dismayed the Demo-
crates for a week.
1t can hardly be argued that the pay
ment or non-payment of certain sums
of money by some governments to other
! governments Is Of direct personal con-
Germ to a majority of Americans or TO
enough Of them to have changed the
opinion of the country. 1t can hardly
be argued that so great a number of
Americans hold deep-seated personal
convictions or prejudices about these
debts.
Business Still Issue.
Indeed. so far as there is much feel
ing about those debts or much political
dynamite In them 1t is in the direction
OF holding our debtors vigorously to
their obligations rather than being easy
With them. At any rate. during the past
several years any American politician
laying out his course solely with an eye
to popularity would as a rule take the
make them-pay" course.
The taking of course opposite to the
one presumed to be popular. together
with the spirit Of benevolence inherent
in the act, was responsible for much Of
the quick rallying of sentiment to Mr.
Hoover.
Much Of this Mr. Hoover will retain
for all time. But it still remains true
that the determining factor in the presi-
Dental election next year will be the
state OF business. This the Democrats
realize. So do the Republicans For
both parties the barometer of political
hope is the index of business prosperity.
The Democrats. of course, will not
continue the political moratorium any
longer than is imperative, decidedly not
so long as the term of the financial
moratorium that figured in President
Hoover's proposal and in recent events.
No existing standard of political ethics
demands that they should. The recent
Democratic demonstration OF support to
the President was about a question in
the field of foreign relations. and in
foreign relations 1t is a tradition that a
political truce between the two parties
can be invoked to enable the head of
the Government to show solidarity be-
fore the world.
Both Want Good Times.
This particular question about foreign
relations will last for some time. Ac-
lions about the foreign debts will be
necessary from occasion to occasion for
considerable period to come. The one
year term of the debt postponement fig
urlng in Mr.. Hoover'S proposal would
come to an end July next year. Upon
that very day the Democrats will be in
convention assembled to nominate a
candidate for the presidency. to write a
platform, and IN all respects for the
primary purpose of taking the preSi-
1ency and the administration away from
Mr.. Hoover and the Republicans.
one can visualize the occasion as put
ting severe strain on political amity.
Has enough political concord come into
the world to justify an anticipation that
the Democrats on this question of for
eign debts would write into their plat
form plank supporting the President s
course?
The. answer is that If prosperity is
fully back with us a year from this
week or obviously on its way back.
much of the credit for it will be given
to Mr. Hoover's course about foreign
debts, and the Democrats will not be
likely to indict any policy that is be-
lieved to be responsible for good times