The Indianapolis times., 1933-12-15
THE INDIANAPOLIS TIMES
Mr.. SWoPE,s IDEAS

TSHERE seems to be a wide difference Of
u opinion as to what was in Gerard Swopes
mind when he recently proposed that we turn
back the control of American business into
the hands of American industrialists lust as
soon as business gets thoroughly on its feet.
Most Of the progressive journals and COM
mentators quickly and sharply declared it to
be an unfortunate. il-timed and impatient
effort to get American industry back into the
hands of those who have all but ruined it.
Mr. Swope broadly characterized his plan as
one Of permanent industrial self government
The NRA is to be terminated and American
industry and commerce controlled by a ma
tional chamber or panel of industrialists. IN
deed it is implied that the United States
Chamber of Commerce might well constitute
the integrating authorities in this new scheme
Of industrial self-government The power and
activities of the federal government would be
limited solely to the protection of public in
terests.
Not only liberal commentators, sympathetic
with the new deal, denounced Mr. Swope's
proposal as an inopportune embarrassment to
the administration but General Hugh s
clear that he took for granted the permar
nence Of governmental supervision of Ameri-
can industry, and as is embodied in the NRA
and related legislation.
An implied eulogy of Mr.. Swope's plan was
carried in Vincent Astors national weekly.
Today. This is owned and edited by persons
friendly to the Roosevelt administration.
Yet Mr.. Swope's plan is characterized in
glowing terms as "a charter for industry"
Further, in his signed editorial, Mr.. Astor
refers to Mr.. Swope's Constructive and ttu7ely
proposal" and says further that:
Praise is due Mr. Swope for his ingenuity
in bringing forth new ideas for further CO.
operation between the individual trades and
industrial organizations-all with the purpose
of stabilizing industry and employment"
lii the first place. under the present eco
nomic order, ultimate control does rot rest
in the hands of the industrialists or ner-
chants 1t resides in the great investment
bankers. The investigation of the latters'
ethics and methods, which has been conducted
by Mr.. Pecora since last June pretty clearly
indicates what prospect there is of honor.
fairness and competence under such domin-
1929 failed to hang up any record redounding
to their glory.
There are many who concede all this but
contend that industry has learned its lesson
since 1929. There is little evidence to support
this optimistic view. But an important Ameri-
can industrialist voluntarily espoused Mr..
Swope's original plan of industrial self
government when he set it forth in the sum-
mer Of 1881. considerable proportion of
American industry has resented any codihca-
ton of practices under the NRA. In many of
the codes submitted by the more important
industries an effort was made to retain the
abuses of the old order Moreover, there is a
chorus of squawks and squeals throughout
American industry against the NRA to say
nothing of the silent but much more danger
Gus epidemic of chiseling
There is plenty of basis for legitimate
doubt as to whether the government itself
adequately will be able to enforce the NRA.
The chances of successful enforcement will be
reduced notably if anybody of consequence
encourages business to regard it as merely
temporizing stop-gap, not to be taken too Sc
riousy
If Mr.. Swope actually wishes to avert in
dustrial anarchy let him understand that this
can be achieved only as a result of perma-
nent and rigorous governmental control of
American industry. Then he can get busy
trying to induce his fellow industrialists to
accept this self-evident economic truism