The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1935-06-14

| ~ get as advisors
! NSn$ men of expert
Lewis Hanev ence and judg-
ment.
90 Cease demogogiCal prom
; ises of more abundant life" and
false theories that government
can cure the ills of economic life.
3. Break up deadly and waste
full bureaucracy, and take the
government out of business.
4. Immediately stop waSteful
and confidence-destroylng poll
cies, such as silver buying, t.
V. A., cotton price pegging, and
processing taxes, utility batting,
government banking, and artltl-
cially "easy money
III. Then I would proceed to
make "relief" unattractive, and
to make production attractive.
/. Relief should as drastically
and rapidly as possible be thrown
back upon localities. 1t should
be on a straight dole basis (no
boon dogling'D, and be financed
by taxes specifically for the
purpose.
2. Production work should be
encouraged by encouraging legltl"
mate business enterprise. 1t
should be made safe to save and
to invest. Political risks and un'
necessary restrictions should be
reduced, so that chances for
earned profits would increase,
thus increasing employment.
BY restoring monetary ana
legal certainty, the spirit OF rea'
sonable confidence would de-
velop. BY reducing relief,
there would be less need OF CIV
ing relief.
III, Next would IA set
about restoring "the price syS-
tenn" and (b) reesta blish money \
as a meaSurer of values.
(a To restore the price sys-
tenn, or the rule of supply and
demand:
i. Stop price pegging and
price boosting.
2. Stop production control.
3. Break up monopolies, Gov
eminent and private.
4. Encourage production. so
that producers could employ
labor and capital productivity,
and consumers could enjoy low
living costs.
90 To restore money:
l. Balance the Federal bud
get, by economy and taxation.
2. Establish an absolutely indie
pendent and expert Federal Re
serve Board, free from political
or business domination.
3. Then restore the gold stand
ard.
4. At the same time, call an in
ternational conference and lead
the way to sterilization of cur Z,
rencies.
w. Encourage foreign trade.
/. Moderate tariff barriers, to
enable other countries to buy our
exports by paying us in goods.
2. Stabilize currencies (as in
III, B, ~.
Then. and not until then, I
would set up a board or boards
of economists. to devise long
range plan of reforms, such re-
forms to be submitted for criti-
ciSm to other boards of public
spirited business men, laborerS,
and farmers.
would certainly recognize that
reform can not come in day,
and that it can not be established
merely by passing laws or chang
ing institutions"
Finally, l think 1 would lay be-
fore the people two constitutional
amendments. One would be to the
effect that the monetary system
of the country shall always be
based upon some single and
stable standard material, and that
it shall be the duty of Congress ,
to see that the public credit be
maintained, so that such stand
ard will not be jeopardized.
The other would provide for
the impeachment of any Presi'
dent who ID, after election, pro-
ceeds to violate pledges given by
him to the public concerning
matters of public policy, or who
90 wilfully undertakes to intro
duce policies designed to violate
the Constitution as interpreted by
the courts, without first obtain
ing the written opinion Of three
eminent judges selected by a rep
resentative body of lawyers.
This would make political plat
forms" mean something, and save
us from some bad laws.