The Waterbury Democrat., 1935-11-19

 the president of the Merchants Association of New York that "the breathing spell" in MT. Roosevelt's recovery program be made permanent. Business de- 1nands to be let alone, to be per- nlitted to 90 its own way without interference, unhAmpered, and unregulated. Business men want the government out of business and here comes Second Vice President Adams of the American Bankers Association with 0 bul- lying order that the adrninistra- ton. of the government of the United States be conducted on the lines he lays down. Unless there is "a regime of rigid econ- omy, Q balanced budget, and 0 sane tax program"--in other words unless President Roosevelt and, his party are kicked out of office-the bankers of America must refuse to buy government securities. Under no other condi- tons should the banking industry of the nation condescend to tree sume negotiations with the Fed- eral Government" Anyone would imagine that MT. Adams was the generalisstmo of victorious army declaring the terms upon which he would treat with Q vanquished enemy. Anyone would further imagine that he was talking about his own money instead of the peoples. The phenomenal increase in bank deposits would indicate to the lay mind that the mass of people believe that Presi- dent Roosevelt's banking policies are responsible for banks oncc more being regarded as c safe place to put money. Tn their eyes the credit for lifting suspl- cion from all banks, good and bad, is due to the President, not to the bankers.
 No Dictator
 MT. Adams being a banker In his spare moments would prob. ably appeal to the Jaw for protec. ton and redress against anyone who unjustly attacked, directly or indirectly, the soundness or cred. 1t of his own bank. He is, to my mind, guilty of Q fare more seri- ous offense inasmuch as the speech which resulted in his be- ing put in line for the presidency of the American Bankers Asso- ciation was nothing less than an attack with an oratorical black jack on the financial soundness of the United States of America. President Roosevelt has been, and is being, accused of wishing to set himself up as 0 dictator. It is 0 good thing for MT. Adams that he is not already one. If the Second Vice President of the American Bankers Association were living under the thumb of Mussolini, Stalin, or Hitler he would be waltzed to the nearest wall and made the target for a firing squad as 0 warning to those infected with the disease of talking through their hats. So whatever fault this would-b0 boycotter of government securi- ties has to find with the federal administration he ought to be grateful that 1t is e dictatorship only in the imagination of it's enemies. He ought also to be grateful that Salt Lake City de- positors do not apply the same boycott to his bank that he ad- vises his brother bankers to lay against securities backed by the credit of the nation. It might be done. For if such securities are a bad buy for bankers 0 deposit slip in any bank in the land hos not the value of @ cigar store coupon.
 No Pleasing Them
 Apropos of this uproar about spending by the federal gov. ernment I had on Illuminating conversation c few days ago with 0 typical small-town Republican politician. He was foaming ct the mouth over the way he declared President Roosevelt was shovel. ling out the nations money. MT. Roosevelt's policies were-creating Q race of idlers who would never do Q lick of work again as long as they lived. l recalled to his mind gently the fact that to my knowl- edge he himself had done nothing in the way of toll ex. cept hold office for the last ten years. I also reminded him that Q goodly chunk of the nations money had been aliocated to his town for public works, and that politics had been 50 completely ignored in the conduct of the projects that his own party had run them.
 That's just the trouble", he
 reared. "Here we've applied for
 money to do some road work
 and we haven't got it."
 Tn one breath he damned the na- tional administration for "spend- ing" money and In the next double-damned 1t because his town was not getting all 1t want- cd. A typical example of Re- publican fault finding and just as unreasonable as what Is made by the Republican press the country over.