The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-10
MOVING
CLOSER TOWARD
NEW DEAL PACT
That's Trend as Business
Swings Steadily From
Roosevelt.
BIZ LYLE c. WILSON
United Press stan Correspondent

WASHINGTON. May 10. - Big
business has swung steadily away
from President Roosevelt in the past
six months and labor is coming
closer to the New Deal.
Both labor and business are be-
ginning to find the positions they
will occupy in the 1886 presidential
campaign. Political observers eX-
pect these trends TO continue.
Chairman James A. Farley Of the
Democratic National Committee
says
We never had the support Of big
business, or at best it was only
passive. We Will depend next cleo
ton on the masses"
Movements of the American
Bankers Association and the United
States Chamber Of Commerce chart
the trend OF big money away from
/ Mr.. Roosevelt.
Backs to Wall
The bankers met here in conven-
ton last October, suppressed their
anxiety over New Deal policies and
went through the motions of a
reconciliation with Mr.. Roosevelt.
Bankers have their backs TO the
wall now in a fight against the New
Deal central bank bill which would
deprive private bankers Of control
over credit.
The Congress elected Nov. ap-
peared to have distinctly radical
tinge. A few days later, there was
a widely publicized movement by the
United States Chamber to cooper
ate with New Deal recovery plans.
The impression was general that
business would be compelled this
year and next to depend on Mr..
Roosevelt for protection against a
wild and unmanageable Congress.
White House More Radical
But White House legislative plans
proved to be more radical than any,
thing expected Of Congress, except
on currency initiation and the bonus.
Mr.. Roosevelt jolted big business
and banks with bills for social Sc
curity, abolition Of unnecessary
utility holding companies, extension
of AAA authority over private bust
ness. creation of a political central
bank and similar measures.
Congress is more conservative
than the President on some of this
legislation. The holding company
bill may be modified on Capitol Hill
and New Deal NRA plans already
have been strapped by a Senate
committee. Business considers 1t
safe" now to attack the New Deal.
Mr.. Roosevelt is fulfilling business
hopes in opposing the Patman cur
rency imitation bonus bill. But labor
finds much to approve in New Deal
policies, even though the White
House will not accept the 30-hour
work week bill.
Can Gain More
Mr.. Roosevelt is expected to ap-
prove some further protection OF
labors rights to organize and bar
gain collectively. Labor apparently
feels that more can be had by join
ing Mr.. Roosevelt than by fighting
him.
improvement of labor-New Deal
relations began in March when
Phillip Murray, of the United Mine
Workers, was named to the NRA
governing board. Events since have
/ forced labor closer to the White
House. The Presidents challenge
to the United States Chamber when
il repudiated New Deal policies
aroused labor enthusiasm.
It is evident that labor IS conf
dent Mr.. Roosevelt will permit Con-
gress to enact further legislation at
/ this session and that unless trends
change, the organized workers VIII
/ be whooping it up for Roosevelt IN
1886.