Milford chronicle., 1932-05-06

plOSl all VI llllS CudIdCl6Is
"Since July, 1929, the Democratic
party has denounced Republican ag-
ricultural legislation. The farmer
has been told for the past three
years that his only hope for better
prices, wider markets and higher
purchasing power was in the control
of Congress by the Democratic par
ty. The Democratic party is officially
in control of the House of Repre-
sentatives and, to all practical in
tents and purposes by reason of its
alliance with the radical wing of the
Republican party, in control of the
Senate. Yet it has not introduced a
single bill, announced a single pol
icy or presented any kind of a pro-
gram that would add a single penny
to the price of bushel of wheat,
pay off a single dollar of any farm
mortgage or raise the purchasing
power of agricultural products by
fraction of a cent.
For three years the Democratic
party has assured the working man
that he has nothing to hope for so
long as the Republican party re-
|
| policies of the Hoover Administra
tion were futile; that President Hoo
ver's unemployment program was
merely an insincere gesture; that
| this administration neither under
stands the problems of labor nor
! sympathizes with the wage Garner.
But to this very evening the Demo-
cratic party has not come forward
with any alternative program, policy
or suggestion. 1t has not presented
any plan that would give a steady
job to any idle man or start the
| wheels turning in any idle factory.
"The combined brains of the DEM
ocrats in both branches of Congress
have not been able, despite their
three-year criticism of the construc-
tive policies of Herbert Hoover, to
present any policy or agree upon
any program that would lessen in
any measure the severity of the eX
listing economic depression or short
en- it by one day.
"One proposal has emanated from
former Governor Smith, who, at the
Jefferson Day banquet advocated
tional debts as one method of relieV-
ing the present depression. In view
of the fact that such a moratorium |
would cost the taxpayers of this |
country $500, 100000 year interest
for twenty years, the thinking man |
may be pardoned for not seeing any |
practical relief in such program at |
time when the prime need of the |
hour is reduction of public expen-
ditures and taxes. Another proposal |
from the same source is the issu-
ance of $4,000, 100000 in bonds for a
more or less mythical program of |
public works. The program is very
alluring to the superficial. Turning
to the practical side of it, however,
we are confronted with these diff
culties. Five billion dollars in bonds
could not be sold in this country
without depreciating the value of all +
other government bonds and all /
other outstanding securities at least
2Oao, which loss would fall directly 1
upon thesjndividuals of this country
who have purchased those bonds
and securities. Such a slump would
vency of every bank and life insur-
ance company whose principal as
sets consist of such bonds and Sc
curities. Another effect would De the
withdrawing from private enterprise
and industry of 5,000,00O,000. The
necessity of the hour is for industry
to revive so that it may employ men.
1t certainly could not do this if the
capital needed in it's revival were
attracted to a taX-eXempt bond is
sue. The third question presented by
this proposed $5,000,000,O00 bond is-
sue for public works is how it would
be expended, where it would be eX-
pended, for what it would be ex-
pended and who would decide the
size of the several appropriations
and the aloltments and ALLEGATIONS.
Such a proposal would instantly and
inevitably, by reason of its charac-
Ter, degenerate into pork grabbing
contest of unparallel magnitude and
an alarmingly high percentage of
he funds would be wasted through
political maneuvering and favorit-
SIN.
For three years the Democratic
)arty has told what is the matter
With the country and insisted it
leeded change of doctors, and now
vhen it is given control of Congress
md asked to prescribe, it throws up
is hands and admits il is unable to
liagnose The case and has no rem
dy. No wonder Governor Smith, in
is disgust at Democratic ;lamagog-
ery in his Jefferson Day address
Xclaimed
I would rather have short
hand-shake with the fellow who
knows how to do a thing than lis-
ten for week to the fellow who
knows how to tell you what the
trouble is
During the three years and half
-hich have elapsed since Governor
mith issued his first appeal, in No
ember, 1928, for a constructive
program presented to
ongress, there have been four COM
lete sessions of the Congress and
is now in its fifth session. These
essions have covered, all told,
twenty-five months. 1t has, there
re, not been due to lack of either
me or opportunity that the Demo-
attic party has failed to formulate
program and offer it to the Con-
ress of the United States as Gov
nor Smith advised. During all that
me the Democratic Congressional