The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-10-19

A stocky man with fringe
of gray hair, Mr.. Ogburn
bears a striking resemblance
to General Hugh S. Johnson
from whose NRA staff at
Washington he recently re-
signed because Il saw it
looked bad for the consumer,
and | could do nothing about
it."
The NRA program is tagging"
Mr.. Ogburn declared. It's been
tagging badly since the middle of
July. A recession due to the fail
ure to pump enough money and
credit into the economic system
has set in. Economists fear that the
recovery program has gone into a
tall spin, and we face another VIM
ter of hunger and unemployment.
This recession can be stopped
by speeding up the $1,000 900 900
public works program and releas-
ing $6,OO0000,000 tied up in closed
banks. It's too bad these steps
were not taken earlier. If even
these drastic measures don't work.
we can initiate the currency.
But I'm not sure that even these
heroics will be accomplished In time
to stop a bad winter.
more Credit Is Needed"
More credit and money is needed
to make the NRA go. A greater
total amount of money must be re-
leased throughout the country or
prices and employers will not be
able to pay wages.
IF you try to boost wages to get
more purchasing power the en-
ployers have to get the prices to pay
for the wages. In this case, it's a
little like trying to lift oneself by
the bootstraps
The new deal says raise wages
first and then prices Washington
is trying to keep prices down, but
they're not doing it, That was one
Of my jobs in Washington last
summer. The test of the new deal
will be how much hot air it con-
tains and how much hard stuff.
Mr.. Ogburn paused and looked
solemnly at the audience. many of
whom we're standing on window stills
and chairs
Are we going Fascist?" he asked.
Strikes Optimistic Note
That depends on the way one
regards the new social phenomena.
Whether one looks upon it as ideal
ism, ballyhoo, or just plain hooey.'
Recently I saw a headline in Chi
cago paper President Tightens Grip
on Industry Maybe that was the
just the paper and maybe not.
Again 1 say that this trend depends
on how much hot air the new
deal contains.
Another burning question is
whether the new deal is an emer-
gency act or whether the American
people must now consider it's long
time phase. France has witnessed
an upturn and there was no General
Johnson, and England has had an
upturn without a blue eagle
Striking a more optimistic note as
he concluded, Mr.. Ogburn said.
But if the worst come to the
worst and the new deal fails, we
shall at least have a better organ
lied industry. The promulgating
of 1000 codes for 1000 industries
in few months by General john
son and his staff is one of the
most remarkable feats in history.
DIR. Hutchins to Talk
Another great accomplishment
will be the closer connection be-
tween business and the government.
Robert Maynard Hutchins, Chi
cago university's youthful president,
Will open the speaking program as
the feature of tonight's meeting.
Mr.. Hutchins. whose university is
experimenting with the honor sys-
tenn of education, will follow on the
program the inaugural address, of
President-elect Robert 3. Hougham,
Franklin.
The general convention theme is
Education and the New Era"
The session at $50 tomorrow
morning, also in the tabernacle, will
be devoted to formal business of
the association. There were no pre-
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