The Washington times., 1935-03-26

AE Az Cotton textile
Lewis Haney and lumber in.
dustrieS, both show some receS-
sion.
The automobile producers are
still going strong, and 1t is one
Of the wonders of the day how
a nation which has to feed one
sixth of its people can put q
new car in every home. lis it
a symptom, wonder, Of a pSy-
Geological condition which leads
us to figure that there is now
no use in Saving?)
The decline in steel, however,
suggests that automobile pro-
ducerS do not anticipate the pres
ent high rate of production to be
long continued.
Wholesale commodity prices
averaged lower again last week,
under the influence of various
deflationary conditions. The de-
probation of foreign currencieS,
now led by Belgium, tends to
promote exports and put pressure
on world markets. Legislative un-
certaintieS tend to curtail forward
buying, and to make business live
from hand to mouth.
Continued serious lack of moiS.
ture in the West indicated by the
extraordinary dust StormS), how.
ever, suggests that food prices
are likely to stay relatively high.
1. At least one Legislative un-
certainty" was removed by the
Senate's passage of the work re-
lief bill. Now it will be import
ant to watch the AdminiStra-
tion's new drive to create pur.
chasing power by having the
Government borrow and spend
S4,S8O,OO 900.
Some observers think that the
funds may start pouring out
soon. Others say not before
fall, as it takes time to plan and
get started. Probably the. latter
opirion is more nearly right; but
this new spending drive is not
limited to the heavier public
works" projects. 1t is likely to
develop into something more like
the CWA. and be used for miScel.
laneous odd jobs. so it can get
started more quickly. Govern.
ment orders for materials may be-
come a factor before long-Say,
by June.
OF course, all this means in.
creased dependence of millions of
American citizens upon the Fed.
eral Government-meaning other
American citizens. It means
either taxes to share other peo-
pies incomes, or debt and an
eventual reputation through in
flation.
Now the remainder of the New
Deal legislative program comes
up, as follows:
2. The extension of the NRA,
chiefly for the benefit Of labor,
is being more seriously con-
Sidered. The threats of a 30
hour bill and the Wagner bill,
are tending to put some sort
of NRA extension over.
2. The messy and half-baked
social security" bill comes
next. Some sort of Old-age re-
lief may be given-aS a stop
for the Townsend plan advO-
Gates.
4. Then comes the public
utility bill. This has aroused
such just and widespread OppO-
SitiOn that it seems bound to
be greatly modified.
5. In the background, turks
that EccleS banking bill, with
its vicious scheme for baSing
money on general assets" and
allowing the Government to
borrow from itself and issue
notes to itself.
You can understand this series
of measures if you will note that
the first three are designed to win
votes, by government spending
and favors to certain classes.
The public utility attack is de.
signed to set up a villain, and pro-
vide some "evil" to lambast, a Ia
Coughlin and Long.
The banking bill-well, that is
to get the dough! It will en-.
able the Government to borrow
at will and use anything for
money. Thus it can pay for
votes and for propaganda against
IFS favorite "VilIainS"