The Washington times., 1935-02-06


basis.
Second, dur
ing the period ~ Al
requ ired for Lewis Haney
such reorganization we must pro
vide for the support of the needy
unemployed on a fair but econom'
ical basis.
The general principles which
should guide us in carrying out
these two essentials are: Cd An
equal chance for each individual
to work as laborer or business
man, according to his abilities
90 Rewards to each according
to his productivity. 90 Public
relief for those who honestly
fail to make a living, such relief
to be according to actual need
and not enough to make it at
tractive to the lazy.
The general procedure in ap
plying these principles would be
as follows:
1. Clean up the mess of con-
f1icting and impracticable New
Deal laws, bureaus, codes, and
regulations. The first thing to
do is to get rid of the CHASTITY
maze of uncertainties and haz-
ards, both financial and social
iStic.
In this connection, would
turn definitely away from GEN.
traliZati0n in the Federal Gov
ernment. Central government
restrictions on local develop
ment should be withdrawn, and
responsibility shifted squareIy
to the shoulders of local tax
payers.
2. Clear the way for individ-
nal business enterprise, and en-
courage employment by en-
cOuraging employers.
3. Make it safe to save.
Thrift and economy always
have been and always will be
the basis of economic prosper.
ity.
The basis for economic con.
fidence must be established be.
fore economic recovery can oc.
cur. This basis consists in such
practical matters as Cd a defin.
ite standard money, (2) prices
determined by supply and de-
mand so as to reflect exchange
values based on free individual
choices, 90 profit opportunities
unrestricted insofar as honest
competition allows, a. taxes
limited to the necessities of a
government which does not seek
to replace individual enterprise
and responsibility.
or course, space prevents any
full and detailed statement. Nor
can I be expected to have the de.
tailed knowledge and advice re-
quired for formulating particular
measures. But I will venture to
suggest some steps.
Obviously the key log in the
jam is DEBT, and it is locked
between MONETARY UN-
CERTAINTY and RESTRICTED
CIRCULATION (of both goods
and currency. To clear the
jam it is necessary to settle
debts, stabilize currency, and
start circulation.
Thus, borrowing for non-rev-
enue-prOducing purposes must
be stopped. Settlement of exist
ing debts must be arranged.
Then the budgets of the govern
Hnent and of its citizens can be
balanced.
Then the currency can be
stabilized by restoring it to some
stable standard of value such as
a definite quantity of gold af,
fords.
This would greatly help to
restore trade, but in addition
markets must be freed by stamp,
ing out monopoly and mainpula'
tion. This includes the practices
of some labor organizations. Only
in this way can prices represent
real value, and goods and ser
vices move according to eco
nomic law.
While the process of re-
organization would go on, the
country should be organized into
local relief districts, each under
, an elected and non-partisan
head. These should be under
non.partisan Federal supervision
but should bear responsibility
The Federal Government should
contribute only according to the
interstate business of the severa,
districtS-say from 1-10 to 70.
Meanwhile, minimum ole
age pension and a businesslike
contributory unemployment in
Surance plan, could be slowly
and carefully evolved