The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-05
SATURDAY. JANUARY 5. 1895.
THE PRESIDENTS MESSAGE

The PRESIDENTS MESSAJE
ITO increase purchasing power, and thereby
balance consumption and production; to
keep that balance. then to enlarge consump-
ton to the Nations full capacity to produce
That is the essence If the New Deal.
Out of the attempts to make it work have
come complications, difficulties. mistakes. But
the unity Of the idea mas been preserved and
is continued in the Presidents message to
Congress.
AS increased purchasing power is the key
to increased consumption, so increased employ
ment is the key to increased purchasing power.
long way is yet to 90 in this primary
matter Of increased employment-a way beset
by many pitfalls 1t seems to us that the
President sees most of those pitfalls, and plans
to avoid them.
First, ne separates the unemployables from
the employables. He would put up to the
states and communities the task of caring for
those who can not work.
The rest-the employables-are out Of work,
he says, because Of a depression caused by ma
tionaI conditions millions idle through no
fault of their own. If provided with work they
become millions Of customers for the goods
that the industry of this Nation is ready to
produce and sell
"T7HE Federal Government" the President
says. is the only agency with sufficient
power and credit to meet this situation. We
have assumed the task"
But not blindly. He watches for those pit
falls.
He distinguishes between work that is use
full and work that merely wears out autumn
leaves.
He recognizes that matchmaking public ex-
penditures should taper off as reviving private
employment absorbs the surplus.
He proposes wages for this public work not
so large as to encourage rejection of private
employment.
He would select projects competing little, if
at all, with private enterprise.
He advocates projects requiring the biggest
possible centage of direct labor.
The m effect of the program heads to
that single objective-to stimulate purchasing
power, to create customers, to revive consumer
demand, and thereby to bring about an accom-
psnying revival of private industry. From such
a revival would come the increase in gross
volume of the Nations business from which, in
turn, the tax bill could be paid.
Without that revival. without that increase
in the Nations volume the tax bill mounts be-
vond the Nations ability to pay, and we are
forced down the dangerous road of unrestricted
currency imitation.
TT would be foolish to assume that the course
Il is altogether clear There will be more OBJ
str1Ictions. The Presidents figures-a million
and half unemployable and three and half
million employables-seem small in light of
most statistics.
Also there is a large question of how soon
millions can be set at labor on his proposed
projects. 1t takes time to draw blue prints,
and white -conared workers can't easily shift
from the chair to the shovel and do an effec-
tive job. So we think the President has over
slmpliied in the intimation that the Federal
dole can be dropped quickly or completely.
Some. perhaps many, can not be absorbed in
useful public works. The Federal dole to them
should continue until primed private industry
reclaims them.
But. despite the obstacles, we say that, in the
thousands of proposals and panaceas put forth
during all the depression We have seen no
ADEQUATE substitute for the Presidents pro-
gram.
1t is working Slowly STILL but distinctly
visible even now it is gaining momentum. We
believe We will come out of the wilderness if
we follow through on this path.