The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-07-23
TUESDAY. JULY %. 1898.
STICK TO THE MAIN CHANCE

(XTHAT if the $4,000 100000 re-employment-
recovery program fails? What will hap
pen if, instead Of getting tie nations unem-
ployed back to work as the President prom
ised, it develops that the vast expenditure is
not accomplishing its purpose?
What If, by the time next Congress con-
venes in January it has become manifest that
the pump needs still more printing? What if
then there is another call for more billions to
do the job that nearly five billions were to do,
ard didn't?
We predict this answer-printing press in
hation. And that the man on horseback"
then won't be Roosevelt. He won't be Van
denberg or Smell or Hoover He will be Elmer
Thomas or Wright Patman or some one of
The others who. since the depression hit, have
been so consistently fighting to put the print
ing press to work.
The President stopped the last big drive by
a veto, after both houses Of Congress by large
ma iorihes had voted to resort to the method
that ruined France with her assignats, the
Austrians with their kronen, and that has
either ruined or crippled every nation in all
history that has tried it.
The escape was narrow one. Nine Sena-
tors voting the other way would have started
us on the currency debauch
Larger than any other force in holding
back printing press initiation then was the
hope and belief that the Presidents key pro-
gram for rehabilitation would succeed that
taking to dope would not be necessary.
But that was in May And the promise of
,ooo,ro,,v "a ON mn oOo ,,roo~or,,
still bright.
AS the weeks have gone by since that veto
message, signs that all is not well with the
big plan have been multiplying And there
have been accompanying evidences that Roose-
welt himself has been growing more inter
ested in other phases Of his presidential prob
lem than in this one which, by his own an
nouncement last January, was to be the key
to recovery.
And so we are drifting toward November,
toward that month when every one would be
back at work. and when private industry,
vitalzed by the stimulus of increased demand.
would be revived-when the road back to ma
tional prosperity would have been cleared.
If we pass November with that road still
blocked if we run into another costly detour,
the urge of the politicians to take the easiest
way will, III our opinion, be too strong for the
President to stop. Even now currency in
hationists, quiescent for while, are growing
active and vocal again; are announcing their
determination to jam through this Congress
printing press measure of some sort by attach
ing it as an amendment to some must" Adj
ministration measure.
Yesterday we urged the President to con-
centrate on the main chance; to follow
through on this key plan OF his.
we repeat that today and, knowing as we
Nv completely the President understands
angers of printing press imitation, We call
articular attention to that as the possible
to be paid if his recovery program fails.
Id we urge upon him further, the thought
if recovery efforts do blow up in a whole
- urrency spree, all of the accomplishments
New Deal to date are likely to be lost
le long and painful readjustment that
follow.