The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-23

workers. Dut IL IS doubtful whether
Il has resulted in substantial in
crease IN man-hours OF employ
ment- There are still II million IN
employed
Economically in Deadlock
Farm income has been increased
materially. but through taxes on
consumption which have decreased
the buying power u the city masses
The productivity Cf our produc-
ing plant has been 50 increased that
II our industries were running al
the 1929 level We would need some
. per cent fewer laborers than
then.
The AAA has pried loose from
the economic structure some eight
million tenant farmers and share
troopers IN the South.
We have an eight-billiOn dollar
budget Of which four billions repre-
sent borrowings on interest. and
three billions taxes on consumers.
Seven-eighths Of our budget is
either borrowed or taken out Of do
nestle buying power through con-
sumption taxes. Economically We
are IN deadlock.
Thunder From the Left
Politically We hear thunder from
the left Upton Sinclair and DR..
Townsend in California, Father
CCIghlin in Detroit, Huey Long in
the South and Gov. Floyd Olson in
Minnesota are raising their banners.
What Of foreign affairs? Not
since 1914 has there been such nerv-
GUS tension as now exists in both
Europe and Asia. Here IN Washing
ton We see the largest peacetime al
locations 70 war preparations, with
little cutlery from Congress. For
the fiscal year ending June 80. 1886.
We have provided 6f2 million dollars
for the Army and Navy. compared
with 40 millions in the current
year This does not count vast ex-
penditures for veterans and inter
est on old war debts.
We have lust increas ed the Army
by some $4,000 men. We hear the
Assistant Secretary Of War saying
that the Army is prepared to take
over the country in case Of z do
nestle disturbance. We see projects
for sO-Called commercial air out
posts far into the Pacific. the plan
ming Of naval maneuvers as near TO
Japan as the proprieties permit. a
group Of seditlon bills in Congress.
including the Mccormack bill. spon-
sored by the Navy and representing
the most malicious attack upon
civil liberties We have seen in peace
time. We appear to BE- set for a
preparedness offensive. For what?
Profits High. Wages Low
Another World War? II that
cataclysm comes We can reason
from what happened after the last
war and expect a sweep of revolu-
lions afterward. The Communists
hope to strike when the govern
ments Of the world are white with
bloOd-letting. And while We sit by
watching this thing happen and
fight communism by deporting a
British gentleman Where is our
leadership
DR.. Beard thinks there is a way
out other than the bloody way of
war. Profits are too high. he
thinks. wages too low. and taxation
never has been tried in this country.
Capital must content itself with
lower interest rates, he said-3ie 10
( per cent Production must be
balanced with consumption. not by
limiting production but by increaS-
ing consumption through higher
wages. Capitalism possibly can be
made to work. but not under the
old formulas.
IF history teaches anything it is
that We can no more return TO the
old WAYS than we can reCapture our
youth ne said. We must have an
efficient distribution OF our vast