Evening star., 1934-04-29
BY WILLIAM HARD.
l VOW is the time for some of our
NJ Croesuses (and Jercmiahs) to

work
The new deal is dealt. Every sort
Of card in it has been played. No
new varieties are left in the pack
or In the dealers sleeve. We know
the best. We know the worst. Our
luxurious exiles should now come
What has happened to their country
since they surrendered it to Mr..
Roosevelt's "commissarS"
Four things.
In the first place. in spite Of all
the tyranny" Of the "commissars,
the democratic process" has been
preserved intact. Prof. Tugwell said
so the other night to the American
Society Of Newspaper Editors. Obvi-
ously he is correct.
A politically totally free American
people will go to the polls, in precise
pursuance of precedent, on the first
Tuesday after the first Monday of
next November in order to elect, as
usual, one-third Of the Senate and
the whole of the House of Represen-
tatives. Any revived returning multi
millionaire who wants to hire a hall
in his home town and harrangue his
fellow citizens against the new deal is
perfectly free to do SO. No Stain is
compelling him to confine his DEM
onstrations of sound economics" to
the nineteenth hole of his private
golf club. He can come right out
into the open and do the demon
strating from a public rostrum to the
electorate. 1t is nonsense for him to
pretend that his political liberty has
been in the slightest degree abridged.
Old Deal Can Be Restored.
And. If he and the people who agree
with him can elect an anti-neW deal
majority in either one of the two
houses Of the Congress, 1t can bring
the whole new deal to a total stop.
That majori y, in either house, can
not only biloxi the passage Of any
additional new deal legislation, but 1t
can also block the passage of any
appropriations for administering and
executing the new deal legislation al
ready in existence. In other words,
a majority of one in either house can
send us back to the old deal, and
the voters have it wholly in their
hands to elect that majority if they
want to.
So much for that point. Political
democracy has survived. Now for the
next point. 1t should be even more
encouraging much more - to our
multimillionaires. They have never
been very strong for democracy-until
now. But they have always been
strong indeed, for capitalism. And
capitalism. too, has survived.
A cat has fewer lives than cap
italism. Karl Marx and Friedrich
Engels. the co-founders Of modern
talism could not possibly survive the
frightful industrial depression Of 1848.
1t survived Then they were convinced
that it could not possibly survive the
equally frightful industrial depression
of 1857. Engels said:
"All industry is ruined All mar
kets are glutted. The propertied
classes are in the gulf of catastro-
phe. The bankruptcy Of capitalism
is complete"
Rich Show Pertinacity.
Our very rich men should really
spend more Of their time reading the
works Of Marx and Engels. 1t would
inspire them enormously. They would
learn that Kidding the world of very
rich men is an extremely tedious
process 1t has been genuinely pos
sible in fact only in Russia. where
there were hardly any Of them anyhow.
Elsewhere the more the regulators"
have striven to keep them down, the
more they have continued to swarm
out Of every crevice.
Specifically and instantly, let our
very rich men note what DR.. Writ S
Frankerensky Roosevelt has been able
actually to do to them. The National
City Bank of New York has just re-
ported it amply.
In the calendar year 1932-under
Hoover-the principal manufacturing
and trading corporations of the United
States, all put together, scored a net
deficit Of approximately one hundred
million dollars. In the calendar year
1933-five- -sixths of which was under
Roosevelt-the principal manufacture
ing and trading corporations of the
United States. all put together, scored
a net profit of more than six hundred
million dollars. Not bad for dying
capitalistic system!"
Or. like the Department of Com
merce, let us take the years 1923 to
1925 as our normal base level" for
social economic calculations. And
then let us see where we are now.
Normally Approached.
Freight car loadings are back at
not more than so per cent of normal,
Farm prices likewise are back at not
more than 60 per cent of normal. All
commodity prices combined are back
at not more than rs per cent of nor
NAL. But the prices of stocks are
back at 95 per cent of normal. And
the prices of bonds are back at los
per cent Of it.
That Is, securities are doing better
than commodities. Interest and divi-
dends are raising their heads faster
and higher than the volume or value
of production and distribution. The
supremely capitalistic phase Of the
economic organism is doing better
than the rest of it. More than
IL 900 900 American working men and
working women are out of work; and
in the first quarter of this year, ac-
cording to Standard Statistics. out of
554 great corporations, there were
1877 that resumed dividends and 1913
than increased dividends and 1872
that additionally paid extra" divi-
dends.
In these circumstances, who has the
real right to sulk? Capitalism? Or
the proletariat?
With that question I leave point
two. Capitalism is still here. and the
mourners for 1t can put away their
to pull out again-just as
good as new-at the beginning Of the
next depression. Then for point three.
Ideas Given an Opening.
Here we come to the new deals
central service to the country. virtu-
ally everybody in any city, hamlet. or
anywhere among us, who