Evening star., 1933-05-09

The very stock market, even. which
has naturally been going up or word
OF imitation, took fresh heart on proof
that the imitation is to be kept within
the bounds of sanity" says the Mil
waukee Journal as the farm relief and
imitation bill is passed by Congress. and
similar views are voiced in all parts of
the country. President Roosevelt is
advised that only moderate initiation is
safe. while it Is hoped that a higher
price level may be beneficial to busi-
ness. Defeat Of the bonus rider IS held
to have been a move for safety in con-
nection with the currency.
The imitation measure. according to
the Christian Science Monitor, does
contain features which are hardly de-
fensible from the standpoint of sound
economics. Several features in it show
that, in part. it is political document.
Necessary SO. If the President wished
to gain the authority he desires. how
ever. he had naturally to frame his re-
quest in such q way that the propo-
nents OF one particular remedy would
not say him nay. Granted that the
does not warrant the vote Of q legisla-
tor who does not believe in them. at
the same time it will persuade the
country at large that the President in
tends to pursue q sober and statesman
like course. And in this connection
several factors must be kept clearly in
view. A condition, not a theory. is
facing the country. The President
wants to solve it. He can do so if he
has the support Of the country. Even
leadership. as the President would be
the first to acknowledge, is easy when
faith has been yielded to it. The
United States needs both today"
President Roosevelt now has the
power to regulate the life of every man.
woman or child in the United States"
declares the Sioux Falls Daily Argus
Leader, with the feeling that, were it
not for the widespread popularity of the
Executive, such state would not be ac-
cepted with the calm and assurance
that it Is today" In justification OF
the steps taken. the Spokane Spokes-
man Review states: Recognition of
the need for relief for the debtor classes
is substantially unanimous, and imitation
of some kind Is regarded as imperative" 3"
The Chicago Tribune argues: Imitation
is not food fer q healthy nation. 1t is
Q violent medicine which can be pre-
scribed at this time only because it ap-
pears to be the one drug which will
keep the patient alive. Obviously it will
be of no avail II the patient returns to
his former habits of life. The medicine
now being administered will work if he
mends his ways. II he doesn't. he's
through. The bill providing for the in
fiation Of the currency is really three
bills in one. 1t creates in addition a
government corporation which is to lend
two billion dollars and more to the
farmers to reflnance their mortgages.
Besides that. it empowers the Secretary
Of Agriculture to fix the prices and reg
ulate production of the principal farm
crops and to levy taxes upon the con-
sumers Of these products with which to
pay the farmers the fixed prices. The
imitation, as was said before, Is new.
The loans and the price-f1xing are not
They differ In degree. but not in kind
from the measures which were under
taken before and during the Hoover ad-
ministration. Mr.. Wallace's price-fix-
ing, II carried to the limits permitted in
the bill. Is calculated to cost the Amer
Hoovers did in three.
Referring to the power placed in the
hands Of tht President and Secretary
Wallace. the Providence Journal holds
that only o revolutionary change in
political and economic thought in this
country can explain 1t" and that ut is
earnestly hoped that the authority will
be used with discretion and common
sense" The Birmingham Age Herald
suggests that 1T is something of an ad-
venture, but not to have taken the
chance would have meant a crash,
which we are now to avoid, unless some
thing jams the machinery" The Fort
Worth Star Telegram takes the posi-
ton: "The safe and sane way to ap-
preach the record breaking departure
from the orthodox Is by way of easy
realization Chat, were we not being let
In on the tspgram, we should never dis