The Waterbury Democrat., 1933-11-27
Al's Guilty, Too.

Alfred E. Smith commands great deal of respect in this nation. The most pop ular presidential candidate in our time, he suffered rather ignominous defeat Ill 1928 and failed to be recognized by hls party as it's leader in 1882. Whether or not this has soured him, we don't know. Perhaps we are prejudiced in saying he has changed. No doubt he would chal- . lenge any such statement and claim that : his sentiments of 1883 are the same as they were in 1928 when so many of us rallied to his cause. Why should we de- sert him now because he refuses to en- dorse the Roosevelt administration whole heartedly? That's natural question for MT Smith to ask any and all critics.
 Our sole comment in this latest tirade of the former New York governor against President Roosevelt and his monetary program is that he has done nothing more than give help to catch phrase campaign J This term is not original with us. It has been used by many writers. It occurred recently in one of the best editorials that we have read on the present financial sit uation of this nation. It was written in the editorial rooms of the Cincinnati, Ohio, Enquirer and more praise to the editor for its publication. The title of this editorial was '"The SoundMoney Myth.
 Says the Enquirer, ''The greatest enemy of the American people is the catch phrase. Too lazy to study and inform ourselves regarding many public prob letns of great consequence, we often be- come the victims of catch phrases which distort rather than epitomize the essen tial truth.
 "Just such catch phrase is sound money. At the moment vast opposl- ton to the Presidents monetary policies is developing among business men and bankers. The rallying cry of this group is s'sound money. There is danger that our progress toward recovery will be gravely impaired for no reason other than the popular emotional reaction to this meaningless phrase, sound money.
 ssWhat is sound money? How many of itEndvocates could give an adequate det- milton? Was the gold dollar of 1923 sound money? If so, why were we forced off the gold standard and why has every major nation save France been similarly forced to abandon gold? If returning to gold means restoring sound money, shall we return to gold at $20 an ounce, or $50, or $40?
 "These are questions rarely asked and
  with catch phrases are content to use them without troubling to analyze these problems. To break down the myth of sound money would require whole text book. But we can note here series of factual observations that may help to annihilate the tyranny now exercised over our people by a catch phrase.
 We don't accuse Alfred E. Smith of Ignorance on matters financial. We know he is fully acquainted with the situation at Washington and abroad, although peo- ple didn't think he was internationally minded in 1928. But we do think he has merely added confusion to that already existing by giving fuel to a "catch phrase. He is at liberty, of course, to criticize any Roosevelt policies. But from an acknowledged leader of the democratic party at this particular time the complaint seems out of place. It doesn't sound like the Smith of five years ago.