Evening star., 1934-03-04

made; Gen. JOhnson's ballyhoo was
unfortunate and there was insufficient
allowance for the special position Of
small businesses.
Errors Steadily Remedied.
But errors have been steadily reme-
died and most business leaders admit
that the program has worked sur
prisingly well. Was 1t new? For
years business organizations. led by
merce, have been urging what they
called "self-rule In industry" To be
sure, they wished this sef-rule with
out the governmental oversight and
control which the Roosevelt admins
tration insists upon, but they must
have known they could never attain
1t otherwise. The American public
has been far too Jealous Of the anti
trust laws to allow them to be broken
down, except with effective substi-
tutes. We have had increasing regu-
lation Of business In this country since
the Sherman act Of 1890.
Speaking very roughly, the old plan
looked to regulation by the Govern
ment alone, with emphasis on re-
strictive rules. The new plan looks
to regulation by trade associations in
conjunction with the Government,
with emphasis on constructive effort.
This is q natural evolution. It is
another long step toward a more
rational, more orderly, more leisurely
American life.
The chief failure Of the administra-
ton thus far has been in the foreign
field. This field, indeed, has proved
all but barren Of achievement. A lit
tie was accomplished at Montevideo.
But the London Economic Conference
was, save for silver, completely abor-
tive. In disarmament we have accom-
plished nothing. The huge new ex-
penditures for our Navy are to be con-
demned on every account. There is,
however, evidence besides Mr.. RooSe-
velt's Wilson day speech that the ad-
ministration is fully awake to its re-
sponsibilities. After all. the London
conference failed merely because the
administration was preoccupied with
It's domestic recovery program. The
President had no choice but to refuse
to bind himself to an international
monetary scheme which would hope
lessly have restricted his powers at
home. When the present period of
economic transition has passed, q new
conference may we'll succeed.
Our recent recognition Of Russia,
President Roosevelt's recent asSur-
ances to Germany that he favors a
commercial readjustment which will
lessen the trade balance against that
nation, Secretary Wallace's statements
in favor of reducing the tariff to af-
ford agriculture wider market abroad
these and other tokens indicate that
We are not likely to set out upon a
delusive and impossible chase after
''autarchy."
A More Balanced Life.
The program, after all, must be
judged as whole. 1t has been
planned as a whole. The ideal of the
administration is a more balanced ma
tional life. The different factors of
production must be more nationally
adjusted to each other. They must
be adjusted to the Nations power OF
consumption. This power Of con-
sumption must be more broadly and
| fairly distributed
! We are, in short, attempting to
achieve truly co-ordinated national
life. Since our national life is very
complex, the coordination is difficult
1t requires the reconciliation OF con-
ficting interests. Compromises must
| be arranged or enforced between East
and West, between agriculture and in
dustry, between capital and labor. be-
tween debtor and creditor Our basic
patriotism will be involved In all this
Individuals everywhere must be willing