The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1933-11-03
DR.. NOTZ CITES
PRECEDENT:
IN ITALY
Chief of World Economics
Group Sees Difficulties in
Inaugurating Plan

plan for national economic plan
ming and curbing of industrial
expansion cropped up as 9 sub
ject of wide speculation toda!
among economic experts.
Lauding the reported propose
Of the Chief Executive to place
restrictions on mining of raw ma
terials. on manufacturing o.
products and machinery. and or
trade, DR.. w. F. Notz, professor
of economics at Georgetown Uni
yersity, head of the Academy Of
World Economics and dean o.
the school of foreign service al
the university, said:
'"The plan, although 1 know
nothing of the details which
the President is reported con-
sidering, is one that has been
indicative for several years.
And although I do not believe
the people of this country are
ready for any strong form of
restraint and sacrifice, Presi-
dent Roosevelt is to be admired
for his fearless effort to bring
about economic control.
NRA FIRST STEP
ID. "Any form of control that is
satisfactory will require self-sac-
.rifice on the part of both in.
duStry and labor. This cOun-
try has never practiced such
restraint, and therefore l be.
lieve such plan can only be
accomplished in mild steps.
The NRA can be considered a
step in that direction"
Pointing out that free compe
Eition has been running riot" in
this country, the economist de
clared such measures as the Presi
dent is reported to be considering
are "the only means Of preserving
for the future generations our
natural resources and sound bust
ness conditions"
Italy Cited As Example
The best example Of the sound
ness of national economic plan
ming and industrial control by the
government is in Italy, DR.. Not2
said. adding:
"Of course, the free hand
that has been allowed American
industry for so many years will
make it difficult to establish
such policies in a short time. 1
am of the opinion that it can
be done, however"
Must Curb Machinery
Citing the remark of Plato
"the time will come when iron
will become the slave of man
but beware of the time when
iron becames the master Of man, u
DR.. Notz said:
IT doubt that Plato knew
that this would become true in
such a short time, but it has
and must be acted upon i'm
mediately. Machinery has
played an important part in
our present condition of over
production, and it must be
curbed in some way"
AS a curb of the machine
age" DR.. Notz predicted that one
point of the reported program
may be an amendment of the
patent laws, so that to be
granted a patent, it must be
shown that the machine would
not rob any great number OF
men of employment.
DIR. Donaldson FavOrs Plan
A like opinion in milder form
was expressed by DR.. John Don
aldson. professor of economics
at the George Washington Uni,
Versity. He said:
''The only information I have
?, on the reported control plan has
been second hand, and it is hard
to interpret from the report just
what President Roosevelt intends
to do. 1 do realize that some
thing must be done, although
it has always been the opinion
of most economists that the
Government should refrain from
mixing in business. / favor, how
ever conserving our resources,
and realize that we must look
ahead. This can be done only
by planning"
DR.. Donaldson stressed the Co
ordination of the Presidents IA,
point recovery program into a cen
tralized control agency as means
of satisfactory control of indus
try.
Economists To Confer
The subject will be discussed
at a round table conference of
the Academy of World Economics,
meeting tomorrow in Baltimore,
according to DR.. NotZ.
Many noted economists will at.
tend the conference. including
Broadus Mitchell. professor Of
economics at Johns Hopkins Uni
VerSity; Willard l.. Thorp. chief
of the United States Bureau of
Foreign and Domestic Commerce;
DR.. Jacob H. Hollander. also of
Johns Hopkins University. and
Miss Eleanor Lansing Dulles, eco
Monies teachers at the University
of Pennsylvania.