Evening star., 1936-06-25

problem incident to the depression,
namely unemployment.
The opponents of the present ad-
ministration advocate the abdication
by the National Government of con-
troll over the administration of Fed
eral relief funds. They assert that
such funds should be expended solely
by local agencies of the States. Their
contention is that this will eliminate
politics and prevent waste and cor
ruption. Experience has not shown
that to be true.
To require the Federal Government
to provide the funds. and to relinquish
all control over their expenditure
would be to invite competition among
the localities to secure grants from
the Government which would result
in demands SO great that the national
credit would be impaired.
With respect to politics, the record
shows that there have been less abuses
than under any other plan that has
been employed. State officers are not
exempt from political influence. In
deed. local pressure on State and
county officers might prove irresistible
and over-powering.
There is no plan conceivable under
which no waste viii occur and under
which all abuses may be prevented
So long as the National Government
provides the major portion Of the
sums necessary for the unemployed.
1t must, for its own protection, and
for the protection of those who are
required to pay the bill, retain a lib
eral measure Of supervision both as
the purpose and the manner Of the
expenditures.
The drain on the National Treasury
by reason Of extraordinary measures
particularly including those relating
to unemployment has been great. It
must be reduced as soon and as rap
idly as circumstances permit. Unem-
| ployment assistance cannot be aban-
doned so long as there are large
groups Of American men and women
unable to find an opportunity to earn
livelihood.
Managed Currency Aided
Foreign Countries.
Much will be heard of sound money
during this campaign.
When world economic conditions
were approaching their worst, Great
Britain and many other powers went
on the gold standard and resorted
to what Is known as managed cur
rency." The advantage they thus
derived in trade and commerce over
peoples still dealing under the gold
standard became manifest. To pre-
vent our foreign trade from being
taken over by competitors, and to avoid
further contraction of credit which
threatened, we reduced the gold con-
tent of the dollar We did not Gre
ate an unsound currency.
Indeed, United States currency is
the soundest and the best in all the
world. and we propose to keep it so.
Had we remained on the gold standard
while competitor nations were resort
ing to managed currencies we would
have lost, not only our foreign COM
merce and have witnessed our do
mestic trade reduced to the vanishing
point, but the Government would have
been compelled to face a demand for
monetary imitation that would have
been irresistible Once the printing
presses are started turning out money
you can never hope to stop expendi-
lures or to stabilize values until the
mania has run its course. That has
been the experience Of every ma
tion known to history.
The Republican platform adopted
at Cleveland declares for sound money
in the language of the Democratic
platform of 1882. The fiercest issue
in the committee platform at Cleve-
land was over return to the gold
standard. The committee repudiated
the proposition and the convention,
without controversy, supported the
committee.
At the beginning of his speech NOM
mating Landon, Mr.. Hamilton, the
boss Of the Cleveland convention, an
nounced that the candidate had views
of his own on the monetary ques-
ssoAA' Al Allc tiCSAhlu tIlC CdIlulud&
declared that he favored return to
the gold standard-currency converti-
BILE into gold.
1t Is true that he hedged the issue
by declaring that the proposed change
should be made when it can be ac-
complished without penalizing our
democratic economy and without in
Jury to producers Of agricultural prod
ucts'
For that declaration, made immedi-
ateiy before his nomination, the Re
publican candidate for President has
been proclaimed as bold and defiant.
Almost every one realizes that there
can be no return to the gold standard
under present conditions without pen.