The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1935-05-03

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%%# ingS of the u.
A%E$a%3:# S. Chamber Of
Lewis Haney Commerce have
been greeted" by the President,
and the business men have sought
to cooperate" with him. Now the
masks have been dropped. The
issue is joined, as to whether the
Government is to be run for bust
ness or for politicians.
1t used to be figured that poll.
ticians had to stand in with bust
ness men, because the latter had
the money, and it takes money to
line up votes.
The New Deal politicians, how
ever, are figuring the game diff
ferently. They have taken advan-
tage of the depression, and the
resulting political upheaval, to
raise huge relief" funds which
they handle. They have domi-
mated the banks, and are pushing
a bill to bring the banking system
completely under their control.
They have used the "emer-
gency" and the fervor of money
cranks to establish inflationary
powers so that they can manu-
facture currency
Accordingly, they do not feel
the need of conciliating business
men in order to raise funds.
All observers seem to agree that
the New Deal is less popular than
it was six months ago, and that
Mr.. Roosevelt has lost some pres
tige (although apparently not
with TammanyD
This is doubtless due in part to
the criticisms of other radicals
who promise more than he. But
chiefly it is due to the break
down of MIRA, the ruin brought
to cotton by AAA, the growing
burden of relief" and demoraliz-
ing relief policies, and the injury
done to thrifty people in general
by depreciating their dollars and
attacking their investments in
utility companies.
Then, too, the Southern Demo
Gratis find it difficult to swallow
the Presidents disregard for Con-
Stitutional provisions concerning
the powers of the Federal Gov
eminent.
But all this makes it doubly
important that business leaders
clean their own house. 1t
heightenS the danger that they
may merely turn reactiOnary,
and ignore the deeply rooted
demand for real reforms.
They seem to have a better
chance, and to be showing more
independence. But let them re-
member that If conditions are
bad now, they were also bad in
the New Era" They must not
try merely to go back.
Now, above all, is the time
for business leaders to be
sincere.
If they want to win the leader
ship in our economic life which
they should have, they must give
up ideas Of monopoly and finan-
cial manipulation. They must be
willing to compete and accept rea-
sonable profits so as to give con-
sumers low prices wherever pos
sihle. They must accept tests Of
efficiency.
They must not take advantage
of their stockholders by wangling
ridiculous salaries and bonuses,
and concealing the true financial
position.
Business men can do more than
anyone to make money and
banking sound by their borrowing
and use of capital. Let them
avoid the lust for mere power
and bigness. Let them learn to
play the game. not to beat" 1t.
They must intelligently recog"
nize the rights of laborers.
Perhaps the business leaders
now have an opportunity to GUST
the New Deal politicians, and
lead us back to common sense
and employment. But only, I
think, if they have learned q
lesson, and emerge from the
trials of the New Deal with a
broader and truer conception OF
the meaning of business, and
their relations to employees and
consumers.
We are realizing the. futiIity
of the New Political Deal. What
we want is a New Business
Deal. We want business, but
we also want some new bust
ness leaders and methods.