The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-05-02
j. s. BUSINESS
LAUDS CHANGE
BY ROOSEVELT
C. of C. Cheered by Check
in Experimentation,
Control Policies.
DETECTIVES UNCHANGED
Industry Hopes for Chance
to Study Results of
New Deal.

BH nifcd Prcss
WASHINGTON. May 2. - Big
business found cheer today in belief
the administration is checking the
pace of experimentation in none
tary and business control policies.
Developments of a fortnight sug-
gest President Roosevelt is slowing
the new deal machine for a stock
taking of recovery so far. Leaders
of business assembled here for the
annual United States Chamber of
Commerce meeting appear opti-
mistic regarding what many in
terpret as diminishing of uncer-
tainty.
Persons who recently have con-
ferred with Mr.. Roosevelt say they
obtained an impression that bust
ness may find itself better informed
and less harried during the succeed
ing months than in the first year of
the new deal
The changes foreseen by business
IN administration policies represent
an interruption of experimentation
rather than an abandonment of OBJ
jectiveS. II the expectations of
business are realized, industry ana
commerce would have an opportunity
during the remainder of the year to
discover what they could accomplish
under the conditions created by the
new deal so far
OrOthOx Money Policy Seen
There are. however, indications
that the administration is approach
ing a more orthodox monetary policy
in the sense that the experimental
period apeparS to be interrupted OF
ended. Mr.. Roosevelt has authority
to resume dollar devsluatiOn at any
time. to issue greenbacks and to aid
silver.
The tendency is rather toward
stabilizing the dollar at its new l906
cents value in terms of gold al
though the Roosevelt objective still
Is managed currency"
Management of the currency APP
pears, however, to be feasible with
out further devaluation so long as
he governments $4,000, 600, 900
sterilization fund remains available.
That sum now is ready for any con-
troll Of commodity prices and credit
the administration may care to I'M
ricrfol-o d. 81 him 81
lem from that comparatively ortho-
dox direction, the administration
might ease the minds of business
men. Business has complained for
six months that uncertainty and
lack of confidence were hampering
recovery.
Business to Move Forward
During an expected recovery in
ventory, the administration would
consider means OF reducing govern
ment expenditures. methods of CO.
ordinating NRA and AAA policies
and attempt to discover the extent
to which new monetary methods
actually have improved conditions.
In support of the belief that the
administration would permit bust
ness to move forward under less re-
Strictive conditions. it was remarked
today that: The NRA licensing pro-
visions under which government lit
orally could eXtinguish business Of
tenders is about to lapse; the secur-
tiles act is to be somewhat modi-
fed; the stock exchange control bill
has been materially altered.
Indicative of the business attitude
was the opening address of Henry
1. Hartman, president of the United
States chamber. He reported
Frightening economic horizons and
counSelled that the business men
neither cling too tenaciously to old
ideas or yield too reluctantly to new
ones.