The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1932-05-02
No BoOtstrap Politics

No Bootstrap Politics
When Secretary Mills spoke to the
Associated Press recently and the
New York Times commented that one
of the major virtues Of the address
was that it contained nothing new,
there was sounded for the politicians
of this nation an admonition which
they will do we'll to heed.
The Times comment was based on
the theory that, in times like these,
it is unwise to adopt political nos
trums in an effort to bring better
conditions and that to play fast and
loose with federal finances is a grave
error which may depress the depres-
sion rather than improve it. It is a
warning which the Democrats Of the
country should particularly take to
heart, since they still bear the onus
of the Bryan campaign in 1896 when
the gold standard was the principal
issue and it Is Democrat who is now
urging the printing Of paper money
in order to loosen credit.
Mills talked of the difficulty and
the need of balancing the budget and
presented the arguments with which
ell OF us are familiar, viz, that bust
ness cannot prosper unless we have
stability in government and that
stability in government depends upon
sound governmental finance.
It is a view which many adopt un-
willingly, if at all, for balancing the
budget means the imposition Of addi-
tional taxes upon the people and the
making Of additional sacrifices. One
has to look well ahead of his nose to
see the benefit to come from this trial
by fire as compared with the easy
money" proposals and the idea OF
balancing the budget by putting more
paper currency into circulation.
But the benefits are there and they
far outweigh those which may come
from financing governmental needs
through the adoption Of less rigorous
policies. Unstable government H.
nances means aggravation Of the fear
from which business now is trying to
aecover, with possible increase in
unemployment and the ills which &c
with it. We must get our people back
to work but not on a basis which may
prove unsound and which may result
all too soon. in q recurrence Of the
ills from which we now suffer. We
want q permanent and sound recov-
cry rather than injection Of economic
dope which will mean only a tenn.
porary improvement and which
when the effects wear off, may leave
the patient even sicker than before.
It would seem, from the present &C.
tions Of congress, however, that thu
proposal Of leaders In both parties K
balance the budget by decreasing ex'
penditures as we'll as by increasing
revenue may go by the boards. 1t i
difficult to understand why thi
should be so, why congressman
should be willing to increase taxes bu
unwilling to cut expenses. Can it bt
that the influence Of the tax-eater!
IS more effective than the demand!
which the people have made for al
opportunity to work out their owl
salvation without the burden of gov
ernmental uncertainty, heavy ex'
pense and bureaucratic domination
from which the country long has suf'
tcred?
It would seem 50.
This makes it all the more refresh
ing that the New York Times, kint
pin among the publications support
ing the Democratic party, shoule
agree with Republican secretar!
Mills when he breaches the old ant
accepted truths; that 1t should de-
clare the prime virtue Of his utter
apce TO be the fact that be offers
nothing new.