The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-25
Liberal Viewpoint
by DIR. HARRY ELMER BARNES

TIME intense emotions involved in the bonus
struggle make it difficult to preserve the
| nroner perspective when dealing WIN Ihe IN
| Aation controversy. While Administration par
tisans NAV have exaggerated the dangers IN
! the specifc situation that confronted us, II Is
certain that protagonists OF imitation over
estimated the benefits which might be expected
even though we would have kept initiation unoer
! complete control.
| II is not so much a matter Of cheap money
versus dear money which was at stake, II we
wish permanent recovery 1t is rather the prob
lem of getting enough money of any KIND INTO
the pockets of the mass of the American people.
If we wis hto reform and preserve capitalism
and democracy for any considerable period, we
must concentrate our efforts upon assuring mass
purchasing power and upon conserving the IN
| terestS of the consumer.
/ Finance capitalism must be ended. 1t is the
common enemy of all mankind-even Of the
money -changers Reconsideration the t1nal
/ reckoning comes Industrial capitalism must
! be emancpated from predatory finance and
! strengthened. The new era of capitalism must
be one which lays primary stress upon the in
terests Of consumers.
IF the consumer is not armed with effective
i purchasing power capitalism is doomed to
fold up-and at no distant date. The profit
system can not function unless goods can be
sold. Under capitalism goods can not be sold
unless the masses have the money to buy them.
This is logic simple enough to 6-year-old to
discern the master
! To insure mass purchasing power of suf1-
cient voltage to sustain capitalism, steps should
be taken to prevent the accumulation and trans
mission of the great fortunes which have
characterized our economic past The poSSesSorS
of such fortunes can not and should not, con-
sumo goods in proportion to their resources.
Public works projects and relief measures
will need to be expanded and pushed more
rapidly than during the last two years Other
wise, they will not provide the vigorous boost
which is essential to shove us out of the de-
preston ditch. The benefits of farm relief must
not be eaten up by the higher prices farmers
have to pay for what they buy or by the higher
prices paid for farm products by city consum-
ers. The farming population and dependent
hamletS still constitute Al per cent of the pur-
chasing and consuming public.
The purchasing power of labor must be as
sured through complete freedom to organize
collectively with employers-the Only way to
insure adequate wages short of state socialism
or communism.
THE government need not become an open
il partisan of labor. but it must become
fair umpire between capital and labor 1t must
remove the handicaps which have been i'm
posed upon labor by finance capitalism and a
subservent judicial system. The Wagner Bill
is only minimum first step.
The government must assume authority in
the labor field to the extent of assuring really
adequate minimum wages-not the farcical
minimum wages embodied by the NRA codes
Only in this way can capitalism be prevented
from cutting its own throat.
No conceivable arrangements within capital
ism can be expected to provide complete sta
bility in the economic order. There will in
evitably continue to be some fluctuations be-
tween relative prosperity and depression To
reduce these to a minimum, shall have to
assure the continuance Of mass purchasing
power even in periods of retarded economic
tempo This can be done in civilized and effec-
tive fashion only by system of Federal social
insurance. The Administration social security
measures must be extended, speedily adopted
and set to work
All of this will require ample Federal funds.
Those who have in the past absorbed an I'M
earned and unjustifable portion of our social
income have reduced mass purchasing power
and thus brought us into our present economic
distress.
They must turn back part of their unjusti-
fable bounties in the form of taxes to aid in
the desperate battle to save something for
capitalism. Half hog is better than none
And the Roosevelt tax policy has probably been
the weakest link in the New Deal chain
When initiation is viewed in the perspective
and sound strategy in the battle against piracy
oppression and injustice, We shall not be so
likely to exaggerate its role.