The Washington times., 1934-10-05

sin centuries OF
slow develop
ment of politi- Lewis Haney
cal institutions"
assume that this is in accord
with the Presidents thought.
It shows that the New Dealers
are beginning to fear the radical
following which their own schemes
naturally attract. "a man is
known by the company he keeps)
It shows growing recognition
Of the error Of the New Dealers
ways.
The New Deal is built on the
notion of courageous expert
menting." It has itself an
nOunced the failure of what
has been done in centuries OF
slow development. Thus it is
radical in every sense. Ger
tainly it has been hodge
pOdge of conflicting schemes.
The New Deal slogan has been
that of the callow youthful
try anything once"
It sets up ideals" and an
nounceS that it is ION the way"
to them, without regard to ex-
-perience or economic law. Sin
clair himself can do no more.
= ;. So everything Moley says ap-
plies to the New Deal.
Why did the President try Pro-
fessor Warren's gold buying
scheme? Certainly not on the
basis of centuries of experience,
nor on the advice of men ex-
perienced in practical admins
tration.
Why did the President think
that buying silver would help
China, and at our expense send
Prof. Rogers off on fools err
rand?
a Why did the President set up
and defend the NRA, and au-
thorize price-fixing schemes? I
have not been alone in showing
that this has been unSound and
impractical.
Why has he stood for agricul-
tural schemes which have run up
the price of American cotton to
such figures that the world is
preparing to get along without
out cotton, and our farmers are
losing their market?
These and other things are
: bound to be failures. They are
as much economic spiritual
ism" as any of Sinclair's pro-
pOsals. WhJ, capital has long
been pouring out of the United
States just as it is now pouring
out of California! The de-
pressed condition of the "heavy
industries" is not confined to
Sinclair's state.
Now the New Dealers are be-
ginning to realize that they are
dreaming. This is partly be-
cause they find themselves in
the company of Sinclair and
other dreamers. But it is partly
because of so many failures in
practice-all of which might have
been avoided by relying on ap-
praisal in the light Of expert
,ence.
So we find Secretary Wallace
+. calling initiation mere money
magic. We find the Admin
istratiOn trying to Soft-pedal
initiation whenever it has to
:. sell bonds. We find NRA
"reorganized" out of existence.
: And we find the President hav-
ing bad dreams about annual
, earnings" Of labor, and lin
stead of the 1926 leveD low
/, prices to get volume and EN-.
plOyment.
These things, too, can be
appraised" in advance. Over
and over again, in this column
: and elsewhere, it has been
! pointed out that high money
wage rates per hour do not
mean high earnings per year.
Experience and reason alike
show that high prices both re-
/, duce quantity sold by farmers
! and manufacturers, and de-
crease the purchasing power of
! the wage earner'S dollar.
Why, then, go on with the rest
of the radical program-dollar
,tinkering, processing taxes, build
ing things which do not pay?
They are all of the same piece of
cloth. $500.
: Is the only answer this: 1t is
too late to stop! Have we Sown
r4IaA $v,fSaI0