The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-09-11
Liberal Viewpoint
by DIR. HARRY ELMER BARNES

A LEXANDER HAMILTON long has been the
| IA patron saint Of both Republican war horses
and reactonary forces in the United States
That Hamiltons SympathieS and interests we're
wholly with the commercial and industrial
classes rather than the farmers and workers is
most certainly true. He was also an outspoken
critic of democracy and the rule Of the people.
At the time, it is an insult to his
memory to imply even remotely that he would
have approved of the corporate thievery of those
capitalists who have run America ragged dur
| ing the last generation. He was no apologlst
of the something for nothing" psychology. And
certainly he would have viewed with disgust
such stupidity as has been eXemplifed by the
Republican leaders of the last two decades.
Professor Mckee of Columbia university has
edited splendid selection of Hamilton economic
writings ('Papers On Public Credit, Commerce
and Finance" BY Alexander Hamilton. Edited
by Samuel Mckee, Columbia University Press.
So If they furnish little inspiration or guild
ance for the American future, they are his
torically useful. They can remind us that even
the conservatives at the period of the founda-
| ton of our country honored honest work and
constructive enterprise rather than legalized
robbery.
If one wishes an excellent technical analysis
and description of the formal workings of mod
ern American corporations, Professor Dewing' S
book is far the most thorough and competent
manual which we have. CThe Financial Policy
of Corporations" BY Arthur Stone Ewing. The
|
written editions runs more than 1900 pages.
WEI. in spite of the fact that the boosi is dedi-
i Gated to W. T. Ripley, there is but the
faintest suggestion of those corporate methods
so we'll described by Ripley and by Berle and
Means.
Therefore, the title is to a considerable ex-
tent a miSnomer. For those corporate policies
which have been of greatest significance in re-
al
one will have to look elsewhere Indeed, the
preface to the book is an almost inSolent def
ance of the New Deal and of financial investi-
gators like Untermyer, Pecora and Flynn.
The bank holiday provided a colorful stage
setting for President Roosevelt's Inauguration
and the banking legislation Of the Roosevelt ad-
ministration has been one OF the most i'm
portant phases of the New Deal
TN large and authoritative volume, such emf
l. nent authorities on banking as H. Parker
Willis John NJ. Chapman and their associates
analysed the American banking system since the
World war 1.-THE Banking Situation; American
Postwar Problems and Developments" By H.
Parker Willis and John N. Chapman Columbia
University Press So They reveal clearly the
excuses and follies which lead to the bank
holiday, and they survey without too much APP
probation the banking legislation of the last year
and a half 1t is the best single volume to con-
suit if one wishes to become up-to-dste on the
banking situation in the United States.
Sir Arthur Salter is one of the most re-
spected of captalistic writer's on world economic
problems He here summarizes the results of a
personal investigation of Chinese economics and
finance as they operate in connection with a
silver standard. ("China and Silver" BY Sir
Arthur Salter Economic Forum. Inc. SD More
attention is given to general economics and
finance than 70 the currency problem, but the
book affords sufficient answer to those who be-
lieve that China would be boosted into Utopia
by the recognition of silver in the United States
Professors Yoder and Davies have written
an excellent summary of the causes OF the de-
preston and of the measures adopted by the
Roosevelt administration ('DepreSSion and Re-
covery" BY Dale Yoder and George r. Davies.
McGraw-Hill. si.5o) Special attention Is given
| 10 money and credit