Evening star., 1932-04-13

over night. To indicate outstanding
features of some reforms that may be
attempted by Democrats. and to review
certain efforts already made, let 1t be
said:
First, the 'Miracle-Man's' theory
that the best method of stimulating
business is to withdraw capital from
home industries for loans to bankrupt
foreign borrowers, must be repudiated.
Loans to foreign governments, or to
their nationals, of which repayment Is
promised only on the theory that the
United States will in some mysterious
way build up the ability OF the bor-
rowers to pay, should not be sought or
accepted It is better to use American
capital at home and escape the risks Of
loss and of political entanglements and
complica tions, which must result from
such stupid policy.
Refers to Foreign Debts.
Second. this Government should
announce a firm purpose not TO cancel
or readjust obligations due from foreign
countries, except upon conditions man
ifestly to the interest of our own people.
Third 1t must be made to appear
! that the policy of isolation reflected In
prohibitive tariffs is to be abandoned
and fair reciprocal tariff arrangements
entered into with view to breaking down
and preventing retaliatory measures by
other peoples. We should recognize our
responsibility for the retaliations which
the Smoot Hawley tariff act has
prompted and quickened.
Democrats in Congress have 1n1tl-
ated and passed into conference meas
ure Withdrawing tariff making power
delegated in the flexible provisions TO
the Chief Executive and restoring 1t to
the Congress as contemplated by the
Constitution.
Our opponents say that an import
ant feature of the tariff measure, name
ly, that looking to World conference
on tariffs is designed to give foreign
governments control over our tarlH
laws. There is no truth in the declara-
ton. We know that so long as no
effort is made to reconcile the forces
which make for unbridled rivalry and
competition in tariff barriers, condl-
tions will grow worse. and the return OF
prosperity will be deferred.
Fourth. Laws for the prevention and
regulation of monopolies must be en-
forced. The administrations of Presl-
dents Harding, Coolidge and Hoover
have been marked by such feebleness In
the enforcement of the antitrust laws
as to Justify the belief that the statutes
are regarded as obsolete and unneces-
sary. No monopoly or combination ex-
ercising or attempting to exercise the
power to fix domestic prices in the
United States should be sheltered by
tariff or other form of protection.
Fifth Reduction of the high cost of
Government is among the most difficult
tasks which the Democratic party will
inherit when the administration of
President Hoover dies on the 4th of
March. 1888. The current annual deficit
is approximately two billion dollars. The
total annual cost of Government, in
cluding national and State in all sub
divisions, approaches fourteen billion
dollars. of which four billion is allocated
to the Federal budget. The marked
divergence between revenues and ex-
penditures threatens the national credit.
That credit must be maintained! The
people of the United States cannot
afford and do not desire $4,000, 900, 900
Government.
The Congress cannot go on recklessly
appropriating. in response to the de-
mands of groups in our population, and
at the same time promise reduction in
taxes. There is no magic process by
which the Federal Treasury can be
supplied with resources.
Sixth, the unparalleled decline in
commodity prices, a process which is
accelerated by the new economies II 1t
did not originate therein, is, perhaps, the
most difficult obstacle to surmount in
attempting to overcome depression. Re
adjustments must come in domestic
production and in commerce before
commodity prices will substantially ad-
vance. Instead of piling up additional
surpluses, existing surpluses must be dis
posed of in accordance with orderly
processes. That is. new domestic mar
kets must be stimulated and foreign
markets reached by receiving on more
liberal terms those products of foreign
countries which cannot be economically
produced in our own territory"
Before Senator Robinson gave his
proposed remedies he assailed President
Hoover.
After saying a Nation wide propa-
ganda Gin 1929 built up the myth that
a letter mailed anywhere to the
miracle man would be promptly de-
livered to Mr.. Hoover" the Arkansas
Senator said every policy advanced by
the President then "iS now generally
regarded as unsound, and by many re-
garded as direct cause of the depres-
sion"
Everything that Mr.. Hoover said
would happen failed to occur" he con-
tinued. Everything that he promised
would not occur has taken place"
When the Democrats cried out that
the Hoover plan to increase mass and
automatic machine production threat
ened to create unmanageable surpluses
and to diminish employment, the Re
publican presidential nominee replied
at Newark, 1T is the road to abolition
of poverty"
Mrs. Norton Hits Dry Law.
Mrs. Norton alone OF the luncheon
speakers touched on the subject of
prohibition. After demanding the abo-
lition of many of the bureaus of the
Department of Commerce, which. she
declared, had been built up in ex-
travagant fashion by President Hoover
while he headed that department. Mrs.
Norton urged the abolition of the
Prohibition Enforcement Bureau She
said:
When one attempts to list the Of
lenses committed in the name of this
bureau, words fail. From the passage of
the eighteenth amendment up to this
year of 1882 the noble experiment has
cost the American people in dollars
$40, O,36O,5S5. The sum is based upon
official figures. This does not take into
consideration the revenue which could
be had from legalized tax on beer
and wine, while the cost in murders,
suicides, corruption, crime. prison and
insane asylum upkeep cannot be esti-
mated.
While all of this is developing. the