The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-09-10
THE COMING BOOM

E'kOM Tar across the waters comes voice of
calm assurance. Speaking with perspective,
it tells America to keep its shirt on.
Major L. L. B. Angas IS a financial expert,
and London financial expert, at that-which
in itself gives him class. Furthermore, he is
looked up to with what amounts to difference.
let only in the financial citadel that is Lon
don, but also in Wall Street. The reason for
this is that he frequently has called the turn.
His Coming Collapse in Rubber" Coming
Rise in Gold Shares" Coming English)
Boom" are examples of predictions that
PANIED out.
Finance SalaamS to the successful prophet.
Hence. Major Angas possesses much honor in
his own country and abroad. has become quite
the Elisha in money matters. That explains
the big demand for The Coming American
Boom" even in a section dover Manhattan
where the New Deal is more or less anathema.
In the manner of one who is so far away
from the trees that the forest is clear as
cameo. Major Angas waves aside the idea that
Mr.. Roosevelt is a fellow who merely is will
ing to try anything once. an experimental
quarter back, Pied Piper of finance, with a
penny whistle to play and a seductive song to
sing.
Instead this Britisher declares that Mr..
Roosevelt knows exactly what he is doing and
where he is going and that by reason of the
powers he possesses. powers unseen by the
multitude he is taking us out of it, while we
don't realize what actually is going on.
Furthermore. this conservative observer
LAYS the ghost of Communism. Fascism. and
all those other "lsms" which are keeping the
old order awake Of nights He shows that the
doom Of the profit motive is not-and can not
in the nature Of thingS-be the objective Of
the President. but on the contrary that his
ultimate goal is the saving of capitalism from
itself.
You will have 10 read and re-read in spots,
II you want 70 set the welcome touch of op-
timism that is in The Coming American
Boom" which starts in The Indianapolis
Times today. Articles on finance are not things
which can be read and absorbed while run
ming. but these by Major Angas are as d.
rect and clear and simple as any Of the sort
we have ever seen. A little study here and
there however. won't hurt.
We won't vouch for the conclusions. for
long ago We discovered that it is not the func-
ton Of Journalism TO indulge in or under
write representations But Of couple Of
things We are certain. One. that Mr.. RooSe-
welt does possess powers. delegated to him by
congress. to control the financial workings Of
our nation-power not visualized by many. If
any. OF Us.
Second. that there is. as Major Angas says,
"A constant underlying theme" in the Roose-
yelt program and that the theme is not. as so
many think. unorthodox. but instead involves
basicany the same system Of credit and money
control as that which has characterized the ad-
ninistration OF the federal reserve system al
along-only more so. Today. Mr.. Roosevelt's
authority is backed by power never before
possessed by any President since the federal
reserve was established
The essence Of that power is what is known
technically as the open market operation"
BY Il. credit is expanded-or contracted.