Evening star., 1935-11-18
Without Bacon.

The national planning" of the RooSe-
welt New Deal has in it's wake all the
potentialities of huge and lasting cost
to the American people. Former PreSl-
dent Herbert Hoover. addressing the
Ohio Society in New York, scientifically
and with much precision took to pieces
the national planning, which he called
the third economy" and held it up in
all its nakedness before his audience.
Whether Mr.. Hoover be candidate
for the presidential nomination of the
Republican party or not, the campaign
which he has launched against the New
Deal and the reelection of President
Roosevelt is calculated to remind the
American people that they have been
straying a long way from the principles
under which their country grew great.
The former President also has some
thing to say about common honesty in
finance-government and personal. For
example, ne comments: Money does
not grow on trees, it must be earned;
the first rule of a successful career is
to keep expenditures within the means
of paying them; "the keeping OF flnan-
cial promises is the first obligation OF an
honorable man; the man who borrows
without intent to repay is headed 1or
bankruptcy or disgrace or crime"
Mr.. Hoover's complaint against the
Roosevelt New Deal and its national
planning is that it has disregarded these
simple truths'-that it has brought
about the spending of about $4,000
100000 more of the peoples money than
the Government receipts since the
Roosevelt administration took charge.
Such planning" is likely to lead to the
financial ruin of the American people
unless it is checked. In the opinion OF
Mr.. Hoover it has brought the country
to the very verge of disastrous cur
rency imitation.
AS a substitute for the national plan
ming of the New Deal Mr.. Hoover pro-
poses a constructive fiscal program"
This program, while it may commend it
self to many Americans, is likely to meet
the sneerS of New Dealers and the
charge that it is merely "old stuff" For
MIR. Hoover would bring to a halt the
waste of taxpayers money on unneces-
sary public works" He would have the
relief of the distressed left to the States
and the communities of the Nation, with
the Federal Government conflning itself
to cash advances alone to the extent
that the local authorities are unable to
provide their own funds. He would stop
"the spending for visionary and un-
American experiments" he would root
out the horde of political bureaucracy"
he would balance the budget-not by
more taxes, but by the reduction OF
follies," and he would re-establish the
gold standard. if necessary, on the basis
of the new gold content of the dollar.
Mr.. Hoover's proposals, of course, are
antiouated-just as are the simple f1nan-
cial truths which he enunciates. They
have no place in the planned economy"
of the New Deal. The more planned
is economy, apparently the more it costs.
And the costs, as Mr.. Hoover points out,
are many of them indirect and more
severe than the taxes that must be paid
by the people.
The former President cites the limita-
ton of production as one, and perhaps
the principal, method Of the New Deal
ers in their planned economy. Such
planning, he says, is the essence OF
monopoly. What else could it be? The
planned scarcity" upon which civiliza-
ton always degenerates is the substi-
tute for economic plenty" The whole,
according to Mr.. Hoover, sis the more
abundant life-without bacon" The
American people, face to face with
mounting costs of living, may ponder
this suggestion.