The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-02-10
Liberal Viewpoint
BY DIR. HARRY ELMER BARNES

ONE should extend hearty congratulations to
" former Secretary Ogden Mills for his en-
lightenment and courage in recommending a
modification of the high protective tariff in his
speech at Topeka recently. Among other things
he said;>
Il prefer to turn my attention to the posi-
bilitieS among others, of recovering lost mar
kets and to the stimulation of increased con-
sumption not only through the restoration of
purchasing power at home, but through the
promotion of a greater prosperity and a higher
standard Of living the world over.
Granted that the difficulties are enormous
and that much time and patience will be re-
quired, this is even more true of the self-con-
tainment program
1--WE will have to abandon the present policy
of isolation and intense nationaliSm and to some
extent modify recent tariff practices"
| We will give Mr. Mills the benefit of the
| doubt and assume that this represents his real
belief. If SO, our regard for political campaign
as a means of public education is not increased
by this fact.
Mr.. Mills opened the campaign for the re-
election of Mr.. Hoover by a speech at Faneuil
Hall in Boston on July H. 1882. At this time
he talked different language. Vigorously assail-
ing Mr.. RooseveltS proposals for liberalizing the
tariff, he said:
Il don't know any subject in American polit-
ical life that is responsible for more buncombe
than the tariff controversy. Let this be said in
favor of the Republican party 1t has stood
steadfastly and still stands by the protective
principle, and can without violation of policy
apply this principle to natural resources"
1t is also interesting in this connection to re-
member the speech Of Mr.. Mills chief in the
autumn of 1882 when he predicted that blades
of grass would rear their ugly heads through the
pavements of New York City if we tinkered
with the sacred principles of protection and ma
tional self-Sufficiency.
- xrzr-r5rr, 49,, @.oHs,;4a - H.. ,..oz 80
Samuel insult have ever charmed me- But
it is certainly not in the interest of the carif1
cation of public thought to make him out a
unique scoundrel or to let him serve as the goat
for the evil financial manipulations of the cleo
trio utilities during the last generation.
NJ. insult was as ruthless as any last one of
the utility kings. He built his paper pyramids
recklesSly. He was arrogant and uncharltable to
competitors and lesser concerns He had no hest
tation in corrupting politics to gain protection
for his utility interests. He played his part in
the prostitution of the government of Chicago.
He extorted high rates from the masses who
used his electric current. Thousands OF unsuS-
pecting investors were ruined through putting
their money into an enterprise which Mr. insult
assured them was as impregnable as Gibraltar.
once interviewed him personally on the util-
ity question and found him enthusiastically
willing to disseminate the grosseSt misinforma-
ton about the character of the electric utility
industry and the menace of public ownership.
NEVERTHELESS, if we want to get ahead
y in any large way in this field. we must
remember that it is a whole industry and sys-
tenn of finance which was and is at fault AS a
business man or personality, Mr. insult was not
whit more irresponsible or arrogant than
many an eastern utility magnate who is not a
fugitive abroad, but still remains a respected
pillar OF American economic society.
The reason for Mr.. Insults collapse was not
that he was worse than the rest of these, but
that he was brave or foolish enough not TO play
along with Wall Street and the eastern utility
interests Therefore, they set out to get him,
and were able to do so because of vast loans
which he had contracted during the prosperous
age I'D fell due in the lean years
insult was not able to duplicate Henry Fords
feat by defying Wall Street and raising his own
funds. Those who were ruined by the insult
collapse have to thank not insult alone, but,
even more, the Wall Street bankers and utility
interests who forced him to the wall wholly
regardless of the thousands of small investors
inevitably impoverished by their procedure.