Evening star., 1934-02-19
By MARK SULLIVAN.


With due caution about flinging su-
perlatives before the eyes of a people
already too much agitated by events,
II must nevertheless be said that by
far the most important thing going
on in the world is the attempt and
the considerable degree Of progress OF
a group of young radicals in carry
ing the United States toward collec-
twist form of government and social
organization.
What is taking place is, am salts
fled, not the conscious intention or
the wish of President Roosevelt. The
steps which constitute the progress
toward collectivism are not initiated
or devised by the President. They
come mainly from a group within the
administration who call themselves
liberals and are called by others rad
icals. The term radicals" is abun-
dainty justified, for there could be
nothing more far-reaching than the
objective they are intent upon. They
understand what is called the "tech-
nique of revolution" and they are in
tent on bringing one about in Amer
lea.
Cites Stock Exchange Bill.
The latest step is being attempted
through bill which is called meas
ure to regulate stock exchanges. So
far as the measure lays down rules for
control of the Stock Exchange it is
not revolutionary. 1t is not even found
too drastic by many who resent the
shocking investment and other flnan-
cials scandals of recent years and the
part that stock manipulation had in
them.
The means by which the revolution
is being attempted lies in the parts
of the measure which goes far af1eld
from the Stock Exchange. These
parts of the bill can hardly be inter-
preted by any we'll informed person
except as an attempt. subtle and indi-
rect, but thoroughly effective, to bring
about in the whole of American in
dustry, big and little. including farm
ing, what the radicals call planned
economy" Planned economy" is a
gentle and alluring phrase devised by
the intellectuals who understand Tai
leyrand's dictum that principal con-
Germ of statesmen is to devise new
words for institutions which, under
their familiar names, would be odiouS
to the public. Planned economy Is
the same thing as collectivism, and
collectivism is what the radicals in the
administration are moving toward.
The provisions in the stock ex-
change control bill which would
facilitate planned economy are those
which assert control not over stock
exchanges, but over ordinary industrial
corporations of any size. and over
their officers, directors and stockhold-
ers. The provision works by indirec-
ton, and its eff Cct would hardly be
recognized by any one unless he was
familiar with the planned economy
objective Of the radicals. One provi-
sion is that no corporation should be
allowed to issue stock to be registered
on the exchanges unless the "applica-
tion for registration" complies with
the rules and regulations made by
the Government commission" which
is to administer the act. What rules
and regulations" might be made by
the commission is a matter within
their own discretion.
Government to Control Capital.
This power to prevent corporation
from issuing new securities must Re
read in connection with one Of
the fundamental principles of the
planned economy" The principle
is that the Government shall have
a monopoly Of the control and
disposition Of capital. A collateral
principle is that no owner of capital