Carolina watchman. [volume] (Salisbury, N.C.) 1871-1937, 1934-07-06
1 g9|1'gE|:!
Johnson Under
Discussion
Housing Act Moving
Threatened Strikes
Hurt
The Debt Tax Load

and expectation that in the course
Of the next six months-that is, be-
fore the new Congress meets in
January-he will have got the
whole of the complicated machin-
cry of Government working in uni
son t o a single end, and will have
found able men to replace several
who are definitely ON the way out
because they have not made good in
their jobs.
How he is going to do this
without disturbing the morale of
the Administration is his WORRY.
And Mr.. Roosevelt doesn't worry
much about anything. He comes
pretty close to obeying the Biblical
injunction about letting tomorrow
take care of, itself. However, a
lot of other folks are doing con-
siderable worrying.
Perhaps the biggest source of
worry in the Administration is
General Hugh johnson. Person
ally everybody likes General John
SON.. In starting the Blue Eagle
and the NRA off on a wave of
popular enthusiasm he did a magni-
ficent job of propaganda. He is
still the great propaganda, but as
an administrator, it is beginning to
be realized in Administration Cir
cles as it has long been realized by
the business men with whom he has
had to deal, he is decidedly not a
success.
How to ease General johnson
out without stirring up too much
trouble is one of the Presidents
chief difficulties. He must have
the right man ready to slip into his
place before he acts. Business in
terests are beginning to talk Of
Clay Williams, head of the Rey-
nolds Tobacco Company, as the
ideal man for the job. There has
been no intimat;cn from the White
House as to who may be the next
head of NRA, but a change is re-
garded as certain.
Harry Hopkins head of the
Emergency Relief, and not John
Fahey, head of the Home Loan
Board, will be made the admins
traitor of the new Housing Act. A
campaign of propaganda to Elk up
the old house is to be begun soon.
The hope is to get activity in the
building trades started off this year
and a big building boom in 1885.
What is still lacking is conf
dence on the part Of private bust
ness and industry. 1t is realized
that something must be done to
assure business that if it puts its
money to work now there will be
NO further radical legislation or ad-
ministrative actions to impair the
stability of investments.
No word has been forthcoming
on what the President will do under
the powers granted too him under
the Silver Act. Secretary Morgen-
THAI declares that he will admin
lister it enthusiastically" but that
does not satisfy conservatives.
There is a strong belief here, back
ed up by statements from finan-
ciers who usually know what they
are talking about. that the amend
ments to the Securities Act now
make it reasonably possible for the
flotation of new stock and bond
issues to provide working capital,
which is badly needed, for many
large industries.
Business confidence is not being
helped any by the continuous
threats of strikes in major indus
tries. The American Federation OF
Labor has declared its intention to
devote the summer to the COM
plete organization of the whole au-
tomobile industry, preparatory to
making demands next Fall which it
will back up by a general strike in
the automobile factories if they are
not granted.
The outlook as seen by impartial
observers here is for a slight falling
off of business during the Sum-
mer, which does not look as prom
ising as 1888. with increased gov
eminent spending to take up the
slack while business men and fin
anciers are studying and Analysing
the probable effects and benefits,
or otherwise, Of the things which
have been undertaken by the Gov
commitments.
One of the things which will
come in for a great deal of hard
study will be the National Debt. 1t.
is now ~ billion dollars-twenty-
seyen thousand. n;ll;ons Th.. T.