The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1934-01-25
IS THE PRESIDENT OR GLASS RIGHT?

The line of reasoning of The Charlotte
Observer in regard to Senator carter
GLASS; opposition to the monetary pohcy
of the national administration is somewhat
difficult to understand. The Observer Dc
Gins bv criticising the Glass view OF PreS'-
dent Roosevelt's financial policy and pre-
diets that Glass will be known to history
simply as a Senator who tried to Jam
monkey wrench into the Presidents recoV-
cry program, but in between these obser-
vations7 the Charlotte newspaper admits
that Glass is the best informed man N
America on financial subjects, with the
exception of the class known as technical
experts.
The Observer canot understand why
Glass opposes the Presidents policy, but IS
certain that he is honest in his position and
is the best informed man in America on
financial subjects, except the so-called
financial experts. Has it ever occurred to
The Observer that Senator Glass may have
q much better understanding of the money
problem than the President has? The
President has never been classed as a
financial expert As matter of fact, the
President does not even have a reputation
as, successful business man. He has III
herited wealth and has been lifelong
politician.
If Senator Glass is the best informed
man in America on financial subjects, and
is convinced that the Presidents monetary
policy is wrong, is he wrong or right in op-
posing that policy? Or should he put aside
his convictions, based on accurate knowl-
edge, and back the policy of the President,
based on far less understanding of the
problem and which is, as admitted by the
President and his hackers, a policy based
on theory and experiment?
The Hmes-News is not discussing this
matter m order to get chance to take a
crack at the President, but is taking a crack
at the peculiar line of reasoning of The
Charlotte Observer, conservative newspa-
pei which usually thinks straight, but is
certainly not doing that in this attempt to
criticise Senator Glass. Why should there
be- any grounds for criticism of the bess
informed financial expert in America
when he takes issue on the intricate money
problem with a man who is not recognized
as financial expert, and who has less
reputation as business man than Senator
Glass has?. 1t may be said in answer to
this question that the President has the
technical money experts on his side of the
controversy. AS a matter of fact that is
not altogether true. Many of the so-called
technical experts, who are college profess
- sorS, not experienced business men, who
have only theoretical knowledge of the
problem, are opposing the Presidents NOR.
etary policies. AS far as so-called expert
opinion of this character is concerned
there is about as much of it on one side
as the other.
If the Presidents monetary policy i
adopted and succeeds, Senator Glass VIII
be'discredited by the majority opinion O
the public. If it fails, the President wi,
be, discredited in the same measure. Sena
$ tor Glass believes the policy will fail AM
his view is based on what The Chariot
Observer~says is the largest amount o
monetary information and understanding
held by any individual in America. Unde
the circumstance what would The Obsery
NSe a. "a