The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-01-25
THE NEW DEAL UNDER WAY

WHATEVER The outcome of the new deal,
W the campaign of Franklin D. Roosevelt
for nomination and election will go down as
one of the most astute in the annals of
American political history. James H Gull
foyle has written an interesting story of the
whole campaign. laying special stress upon the
part played by Mayor Curley of Boston in
furthering Mr.. Roosevelt's candidacy con the
Trail of the Forgotten Man: Journal of
the Roosevelt Presidential Campaign. BY
James H. Guilfoyle. Peabody Master Prlnters).
Impartial historians probably will fail to
concede Mr.. Curley so. prominent a position,
but Mr.. Guilfoyle presents his case very
cleverly and persuasively.
The new deal under President Roosevelt
has been all-embracing and has marched for
ward with such speed that The average man
has great difficulty in sizing it up as whole
or in understanding its specific details. ].
George Frederick has rendered real service
by preparing a primer of the Roosevelt eco
nomic policy, The Primer of New Deal
Economics"
1t states well the general principles upon
which the new deal is founded, tells of the
leading figures who have participated in its
formulation. and analyses the specific sections
of the recovery plan. Nearly half of the book
is given over to articles by Richberg, Swope,
Baruch and members of the brain trust de-
Tending and interpreting the new deal For
the man on the street, who wishes to catch
up with events of his day. this is very use
full volume
Dan Duffy and Hartford Powell have con-
ceived of the ingenious notion of presenting the
first three months of the Roosevelt adminis-
tration by means of reproduction of the
more characteristic headlines which have APP
peared day by day in the leading New York
papers. The book is THE Worlds Greatest
Ninety-Nine Days The job is done IN an
effective fashion and those unable to do seri-
Gus and protracted reading will find the book
helpful in bringing their knowledge up to
date.
The jlxtapostion of headlines from diff
ferent papers is sometimes humorous as, for
example, the headline in the Evening Journal
stating that twenty Morgan partners paid no
income taxes in 1882" followed by the
New York Sun proclaiming that Stocks Soar
l to T."
There have been a number of books dealing
with the effect of the, NFsA upon industry
and upon labor. Lawrence Valentine and E.
B. Weiss have produced the first satisfactory
book handling the import of the NRA for
marketing and merchandising, Business IN
der the Recovery Act" 1t is a realistic and
intelligent volume which should be read by
all wholesale and retail merchants who have
any desire to save the existing economic
order.
The authors quite frankly analyze the de-
fects of the old capitalistic competition, in
Guiding a list of some forty leading unfair
trade practices which have been utilized in
the past. The experience with Germany with
cartels and syndicates is Investigated and APP
proved. The authors believe that the recovery
act will permit a similar organization of
American industry and commerce, and they
are definitely in favor of such development.
The book closes with a warming against
industrial bootlegging. The authors have the
good sense, to recognize that the NRA is the
last desperate effort to help the capitalists to
survive and they warmly urge the latter to
take advantage of the opportunity before it
is too late. There is nothing radical in the
philosophy of the book, but the writer's see
clearly that business will never return to
permanent prosperity until its ethical level
rises above that of racketeering.
Bernard London offers a concise program
for the revival of business prosperity in The
New Prosperity: Permanent Employment, Wise
Taxation and Equitable Distribution of
Wealth" He would stimulate new production
and industrial progress by taxing the pro-
longed use of obsolete commodities.
He has logic enough to recognize, however.
that new goods can not we'll be bought with
out money. Hence, he goes on to recommend
measures for the unemployment of labor.
the paying of adequate wages and the rescuing
of the masses from the creditor aristocracy
Mr.. London's observations are keen and
pungent but many will be likely to hold that
he has stated the problem rather than brought
forth its solution.
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