Evening star., 1933-11-24
JOHNSON SCORES
GOLD POLICY FOES
Says Those Who Falsely
Impugn Credit of U. S. Hit
Welfare of People.
BY the Associated Press.

by the ASSOCldteu FresS
ATLANTA, November 24.-Hugh S.
Johnson, N. R. A. administrator, today
struck at the critics of President Roose-
velt's monetary policy saying, ANY man
who falsely impugns the credit Of the
United States is impugning the welfare
OF our whole people"
johnson spoke to an audience In
Atlanta last night on the N. r. A. and
gave an interview respecting the ad-
ministration monetary critics to the
Atlanta Journal today just before he
left for Warm Springs to see the
President.
In his interview. he said:
Just now the center OF attack is
the Presidents monetary policy. The
other day a hitherto obscure professor.
by a dramatic resignation. obtained his
little nour or two to strut across the
stage. This has happened before in
nothing until he slapped the lion, and
then. for a moment. like the man who
bit the dog, he became public charac-
ter-not because he had advanced in
stature but only because the lion was
already great.
Not Plunging Over Abyss.
Considering that greed is the great
est of human incentives on which the
minds of men have been focused since
the beginning of time. somebody ought
to know something about money-but
nobody does. The quaSi-Science OF eco
Monies is just tangle of conjecture
about which no two of these solemn
pundits agree. Franklin Roosevelt Is
conducting an experiment in fact But
of this our country may be sure: that
sane, cool mind is not going plunging
! over any abyss.
IF he did cut the gold content Of
the dollar in two, it would still remain
the best money in the world. Talk
about impairment Of the Federal credit
is silly We are creditor nation, with
a favorable balance of trade and with
40 per cent of all the gold there is.
Our regular budget is balanced and IN
the named event We would have q
dollar in gold for every dollar of paper.
The world must buy dollars in order to
pay debts and the trade balance. Any
man who falsely impugn the credit OF
the United States is inhpugning the
welfare of our whole people. 1t Is
simply another example of small men
yearning for the public gaze or more
enamored of their own opinion than
they are of the peoples welfare"
"25 Per Cent Out Of Depression"
Speaking in the Atlanta City Audi
torium last night the N r. A. chief
voiced the conviction that the Roose-
velt policies have lifted the Nation "25
per cent out of the depths Of this de-
preston" and that compared with con-
ditions early last Spring, we are for
tunate people"
You hear nowadays a growing be-
cause prosperity has not come over
night I wonder If any Of the grouches
has ever thought where We would be If
the President had not taken the big
plunge" he said.
Where would the South be if cotton
had remained at cents. for example?
What would have been the prospect If
We we're going into this Winter with
100000 unemployed"
Hits Foes of Program
johnson called foes of the recovery
program "a few little men with loud
voices frantically waving puny red flags
of false and futile warning in the path
of resistless advance of a great people"
Away slight men" he cried. You
may have been leaders once. You are
corporals of disaster now"
johnson declared that criticism of
President Roosevelt because he was
spending too much was the "Silliest.
ghaStliest criticism that has yet ap-
peared"
IF we can spend s42 900 900 900 for
+ile privilege of competing in a remote
European shindig that affected our
people not ore tithe as much as this