Evening star., 1934-03-08
following Is the, text Of Hugh
s. Johnson's speech before N.
. r. A. code authorities last

ton seeking SalVatlon at all naZaToS.
Hotel rooms were smoky with plan
ming. Each plan bore its sponsors
name. The distinguishing feature Of
nearly all was to restore 1929 proflts
Immediately. One proposed that. at
Government risk, all Industries start
on a given day and hour to pro
at 1929 rateS--nluch as the sleeping
beauty and all her court awoke in
an instant to vibrant life at the
magic kiss of young Prince Charming.
There were many others as fantastical.
On the other hand, there was another
bill to reduce all industries to a 30
hour week. The President had all OF
these ideas assembled and digested
and, between the extremes. the re-
covery act began to take form.
1t proposed to maintain the profit
system, to paraphrase the Presi-
dent, it chose humanity first and
profits afterward rather than the
reverse.
Certain gentlemen in industry
took exception. I do not underesti-
mate their point Of view or impugn
their motives. know their problems
from bitter personal experience-just
as know, from bitter personal ex-
perience. the destitution and despair
OF the less fortunate in times of un-
controllable depression. They were
not generally men Of wealth. They
we're managers-salaried men re-
sponsible to stockholders for profits.
INIf ffv,
before wages, before employment. be-
fore national policy-before anything.
They would not accept the moderate
provisions Of the recovery act as II
was proposed by Senator Wagner
They got together in Washington
hotel rooms. They forgot that
"the old order changeth. They i'm
agined in their hearts the vain
thought that, notwithstanding old
faces were gone from the administra-
ton and Capitol Hill-yet old for
mulae might remain.
Bonus March Inception.
So they began what has been called
the industrial bonus march on Wash
ington. Like the Bourbons who
learned nothing and forgot moth
ing" they misjudged the temper Of
the Congress which is mirror for the
temper of the American people. and by
the melted volume of their protests.
they sought to amend the moderate
proposals Of the administration and
to cut out any concession except to
the managerial side. They were en-
treated. They were advised that the
more red-fire they burned in the in
interest of one extreme, the more GER
tain they were to produce a result at
the other. They persisted and got
exactly what had been prophesied-
provisions that made the law more
drastic and like all adversary addi-
tions to well considered plan-made
1t more unworkable.
I hope we are not going to make
that particular mistake again. I don't
want to seem in any way threatening,
and know you will not think so
intend, because ! honestly believe you
credit me with some understanding Of
the industrial problem; but there are
many reasons why, before any rash
decisions, we should continue to eoun-
sci together.
I am getting a trifle of my chro-
nology. want to tell you. If you
have not yourselves observed, that
throughout that whole difficult and
trying period when, in panic and
under the urge of extremists. the
wreck of our system was threatened,
The strong, sane, moderate mind that
upheld you was that Of the President.
ask you to remember that at that
time both industrial and banking
leadership had fallen in the public
mind to complete and utter disrepute.
Humanity always seeks a scapegoat.
A British government, unable to sus-
tain itself on any other issue, was
elected on the slogan Hang the
Kaiser" Don't forget that at that
time these gentlemen and the bankers
were almost ito an infiamed public
mind) the Kaiser.
What I want to recall is that at
that time and in that atmosphere, and
IN the teeth Of that furor, regardless
Of popular clamor and by the strength
Of the candid faith that was in him,
one man turned over to American In
dustry what it had clamored for for
many years - industrial self govern
ment.
Don't forget that. Don't let any
Of these propagandists divert over
from the strength behind our system.
Don't overlook the President.
Quotes Chief Justice.
I don't have time to look up
quotations and I have to speak from
memory-but If I am even reasonably
accurate I remember few words
from the lips of a man for whom
from personal contact have an al
most holy reverence-I think he
stands among the foremost men of
our time-the Chief Justice-and he
was then speaking without Official
Shackles. He said. in a lecture before
Columbia law students Il am quoting
wholly from dim memory:
In 40 years business has been in
formed of much that has been pro-
nibited, but it has been told little OF
what 1t can do"
1t was then a question of what
could be trusted to you that had
never before been trusted in the great
est era of business control of govern
nent. How could any man suppose
that, in the atmosphere Of June, 1893,
President of the United States
would stand up and say:
1T the law) is a challenge to in
lustry, which has long insisted that,
yiven the right to act In unison, 1t
'ould do much for the general good
which has hitherto been unlawful.
From today it has that right.
Many good men voted this new
charter with misgivings. I do not
share these doubts. I had part In
he great corporations of 1917 and
1918 and it is my faith that we can
count on our industry once more to
Join In our general purpose to lift
this new threat and to do it without
taking any advantage Of the public
trust which has this day been re-