The Washington times., 1932-09-01

business, pledged itself to uphold wages guaranteed
prosperity, that in the following March President
Hoover could say that "al the evidences indicate that
the worst effects of the crash upon unemployment will
have passed during the next sixty days"
Everything's Fine
AS the problem of the unemployed was, therefore,
solved by proclamation in the middle of May $780, all
that left to solve the financial problem How
successful this with what batteries of conferences
and commissions, need now to be told. BY the
end of August 1882, the President could announce
to his latest f not ast conference that I'VE are con-
vinced that have the major financial,
crisisa crisis in severity unparalleled in the history
of the worldand that with its realization confidence
and hope have reappeared in the world"
l wonder If the President, who confuses things at
tmes hasn't seen the hope and imagined the conf
dence. When people have confidence they have little
need of hope; they have knowledge and assurance.
Why Just Now?
1 was abroad when the market boom began and had
the pleasure of returning to cheerful and hopeful
America Bankers, brokers and amateur financiers-of
whom hear through friends who have access to
seem convinced that the mythical has been turned
SIMPLE non-gamblng impoverished people hope for the
best Even they may still wonder why it took two wears
to arrange for all the great plans to be put into action
why great great institutions for lending money sprang
into existence this year, why loans to home owners will
become operative in the autumn of 1892 why fore
closures on mortgages will be suspended now-and were
not suspended eighteen months ago.
ANasty Choice
The dilemma of the President is not pretty one The
financial argument have heard is that it was "neces
Sary to out certain quantities of water in the
process thousands of farmers and home owners were
also squeezed out of their property The moral argu-
ment IS that after frenzy of speculation it good
for us to suffer- but the proof is wanting that only those
suffered who speculated Two other suggestions remain
and the men who have guidednOt to ugly word
the United States in the past three years welcome
to their choce the intellectual horn of the dilemma
that they did not know what was happening and did
not know how to stop it, the political horn you
figure out for yourself and then decide who is to be
gOred.
All Europe's Fault
In his speech last week the President specifically
blamed events in Europe for the prolongation of our
misfortunes That is, by now the classic vew that we
went in 1929 into natural and inevitable panic which
brought industrial depression out of which we
already rising in 1881, when events in Austria
Germany and finally, England came like cyclone at
the end of whirlwind and flung backs again.
1t is satisfactory explanation; the great economists
are sure it is the right But it leaves great
deal and leaves out particularly the naction waver
ing of the first eighteen months In that time the fact
that we were in industrial crash first denied
and then beittled and Congress fiddled with tariff
bill and with OBSERVATION-DISCLOSURES it was congress
siona election yearwhile the home fires not kept
burning.
We are invited to join the President in the greatest
handWashing contest in history and forget the mis-
cradle past If ten million men were put to work to-
the ambition of the President might be salts
fled. Yet it remains odd that he should want us to
forget past when his utterances such astonsh
ing echoes of his