The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1934-03-17

with automobiles and steel leading
the procession. The anticipated con-
t:nuing improvement of the next few
months, Roosevelt hopes, will be
supplemented and maintained by prl-
yate industry.
That brings us to the future Of our
banks and monty. Many liberals in
the Roosevelt circle still hope for a
nationalized banking system, which
they consider inevitable in case Of
another national crisis.
Further control of banking policies
from Washington seems inevitable, in
any event, and the thing to watch
now is Roosevelt's success or failure
in stimulating a more liberal bank
lending policy.
i X 4
SEEK INTEREST SLASH
Meanwhile, some major move Or a
series of lesser efforts will be directed
toward reducing interest rates. Every
one here agrees on the necessity.
Probable effects Of the monetary
policy are best left to the economists
land they're at wide variance.
Years hence they'll still be arguing
about the relative importance Of that
land many other factors in the devel-
opments of the Roosevelt regime.
Can Roosevelt achieve his attempt
to cut emergency expenditures from
seven billions in this fiscal year te
two billions for l934-35? It depends
on whether industry is stimulated
sufficiently by the governments sho
in the arm this spring and summer.
The fate of 100000 civil work
employees now being demobilized is |
vital problem and civil works prob
ably will be revised, in some form, a
least, by fall! Meanwhile, other meas
ures probably must be taken and ,
new expansion Of public works
likely.
TAX TREND IN DOUBT
National unemployment and old ag
pension systems may be considere
inevitable during this administration
Future trend OF taxation will depen
on whether reviving business con
tributes revenue returns at presen
rates enough to meet charges on tn
enlarged national debt and futur
expenditures.
Nobody knows to what extent tt,
supreme court will sustain the reoov
cry programs emergency measures
The most specific indication Of fu
ture events is given by Roosevelt a
to his long range land plans. Thoe
plans involve decentralization Of ir
dustry, large public development
through public works which can /
accelerated In emergencies, develop
ment or abandonment of large area
flood and soil erosion control, eff
clint planning Of crop areas, electr
power and road development an
what Professor Tugwell calls IAN II
terweaWng of the urban and tt
rural
POLITICAL VICTORIES AHEAD
Politically, there's nothing on Il
horizon likely tc prevent Rooseve
from keeping the independent ar
progressive vote in the Democrat
field. You can be sure OF b
Roosevelt victory in Noyember's CO,
g.essional elections, the president W
meet any intervening emergency vii
those elections In mind.
| The strength behind the Rooseve
plans and programs Is that Of publ
opinion and popular faith. II fai
and belief abate, the whole pictu
changes and the question wheth
we're headed toward Fascism or s
cialism becomes acute.
So one often Is asked wheth
Roosevelt can retain his grip on &
popular Imagination, come what ms
until November, 1895.
His last-year performance NM /
ability to feel and keep up with u
popular pulse while out-maneuvertl
ali threats-indicate that he can.