, 1935-03-11

More Problems
Other OF President RooSeyeltlS
problems are:
COLLECTIVE BARGAINING:
The administration probably opposes
the wagner labor Dill. But, since all
present measures governing collec-
tive bargaining are IN q state.of legal
confusion. the whole question OF
labor is in the most chaotic state in
years. ANY effort to put the matter
on a clear-cut basis has met with op-
position from the administration,
IN the belief that boards, which have
been proved ineffective, still are
lunctioning.
GRAFT. To be PLAIN, the admin
~iStration has to be on the lookout
for INDEPENDENTLY among men,
berS OF its W. party Isince they are
in power. The United States may
yet ring with praise for Relief Ad-
ministration Harry Hopkins and Sec
Rotary Of the Interior Harold L. IckeS,
who as public works administrator
has not feared 10 investigate expen-
ditures even among the highest
sources. Both those men can tell
hair-raislng tales Of what certain
state administrations have done
with government funds. In those
states, honest folk who we're admin
istering the funds we're forced out
TO make way for politicians. 1t Is q
sordid picture.
MONEY: President Roosevelt is
not on the side OF inflationists. but
whether he can stave off huge-scale
initiation Is a question. His economic
policy Is not based on fundamen-
tai redistribution or sharing Of earn
ings. or one the broacened flow Of
trade. but on the status quo and on
increasing restriction OF farm prod
ucts-whlch may lead TO initiation 10
preserve the semblance Of prosper
ity" through rising prices. In this in
stance we see the -progressives learn
ing to initiation. and back by a large
volume OF shouting throughout the
nation, likely 10 pull the president
along with them on the road down
hill.
Shouting
EXPORTERS. Not the least OF
the presidents worries are the ex-
horters. The three principal ones
are the Rev. Charles K. Coughlin,
Senator Huey Long and DR.. +. T.
Townsend. The progresSives say that
only by joining with the senate lib
erals such as Senators La Toilette
Of Wisconsin. Costigan Of Colorado.
Wagner Of New York, CouzenS OF
Michigan, Shipstead OF Minnesota,
Nye of North Dakota, Norris OF Ne
braska. etc, can the president hope
to stem the tide OF emotionalism
that actually may sweep the United
States, unwittingly. into Fascism.
But there is no evidence that the
president will make such a union.
BONUS: The bonus Is certain 20
be an issue. 1t will be tied up with
initiation, the issuance Of greenbacks
or bonds. Anybody's guess Is good on
this, but the country Is drifting To-
ward the bonus.
What 10 Dor
WAR PROFITS: Consumption OF
war profits is not likely 70 win, IN
spite of the disclosures OF the Nye
munitions committee. II II Is Legal
70 conscript the profits OF q corpora
ton during var time, II Is legal 70
conscript the profits OF q corpora
ton during any national emergency
and n depression may be q ma
tional emergency. The profit system
will stand-at least for q while yet.
There may be naturalization OF the
munitions industry later-not nov.
The Roosevelt administration 10
making the greatest peace time mill
tary expenditures in history. NUM-
tons corporations simply Will noe
forego those profits without a battle
that would drag down the whole
profit system. II they had TO give In.
and the Roosevelt administration
will not be as inSistent as thai. Inc
proeressives say the munitions rack
Ell Is the worst that afflicts the gov
ernment-because there Is large prol-
II Cor a few In war. But who VIII
stop the wars7 That Is the realistic
question.
HOLDING COMPANIES: The
president Is conceded a chance 70
win out over the power interests. All
ne has TO do is 10 give the word, the
senate liberals will 20 the whole road
with him. The outlswing Of holding
companies for utilities will be the
first step. And Of all the items here
IN mentioned. that Is the n which
Interests Wall Street the most. Gov
eminent ownership OF utilities s
likely TO follow In due course-wtth
power al exceptionally low rates, but
no gravy" for Wall Street.
stiII More Problems
PEGGED PRICES: Whether peg
ge6 prices on agricultural products
can be maintained without reduc-
ing the American people to a new
and much lower standard Of living
is q question. Pegged prices cannot
stand by themselves against world
markets. The law Of supply and de-
mand is ~irrevocable. And when
prices finally do collapse again 70 a
natural level, will markets for
American wheat and American cot
ton remain2 1t Is doubtful. A natur-
nj rise In prices due to free move
ment OF trade and exchange would
bring the desired prosperity-but
the movement remains in the other
direction. The senate liberals are
divided OH this. Realists who urge
recognition OF interpendability are
termed "dreamers." Thus a basic
economic problem Is permitted 10