Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1936-10-08

ought to defend-the type of govern
ment that we have. Neither Stain
nor Hitler breaches our type of eco
nomic thought. In view of that,
Americans surely ought to tighten
their girdle and take definite stand
for the preservation of our tradi-
tons, our practices, because it is
under those traditions and prac-
tees that our nation has grown
great.
have been a little bit dis
appointed that Mr.. Roosevelt and
=. Mr.. Secretary
American Hull of the State
Doctrine department have
not preached the
American doctrine at more length.
am sure announcements by them
in condemnation of communism or
fascism would find a hearty re-
Fsponse at the hands of the Ameri-
can people.
1t is to be recognized that
changes take place in world econom-
ic and political thought. They are
taking place in our country. More
are coming. But I condemn the
practices of communism and fas-
cism because they have ruined the
lives of all excepting a few people
in every nation where those poll
cies are operative. They will de-
stroy the independence of thought
and action, the happiness, that we
have come to know in this country
as natural right.
In negotiations with foreign pow
erS, Mr.. Roosevelt has not been
fortunate. I think it is generally
agreed among observers that the
President fumbled the ball when
he failed to take advantage of a
splendid opportunity to deal with
France and Great Britain when he
first became President. Likewise,
/ know there are many students
who are convinced that the Presi-
dent by his own acts broke up the
London economic conference in the
summer of 1888 and with the col
lapse of that London meeting went
any hope for an early recovery from
the depression on world basis.
The war debts question still hangs
in mid air. The recognition of Rus
STA am convinced turned out to
be a fizzle. The far eastern pro-
gram, if there was a program, has
yielded nothing because it must be
said in truth we have not cemented
our friendship with Japan.
Within the last few days we have
seen the collapse of the French cur
ron rency. We have
france On seen the Presi-
Gold Standard dent join with
Great Britain in
cooperating with the French in
their difficulty. Yet, it is appar-
ent to anyone who will review the
financial and economic history of
the last three years that the French
have made great effort to re-
main on the gold standard-and
they had no help from us until they
could no longer stand the strain.
It is always easier to use hind
sight than foresight. It is easier as
well to call attention to mistakes
three years after those mistakes
have been made than to take a
bold stand when the errors were
first discussed. These facts, how
ever, do not in any way tighten the
responsibility that was ours as
nation in 1888.
I refer again to the London eco
nomic conference and the events
prior to it in 1888. There were
plenty of men in the United States
at that time who said openly that
the United States should move
quickly and take leadership in world
sterilization of currencies. 1t ap-
peared for a time that President
Roosevelt would take that action
but instead he is charged with hav-
ing broken up the London confer
ence because he failed to assume
that leadership which he could have
had.
| 1udL DIluSS 10 W LliC HIN OC-
tween the United States and the
conditions of Europe. Mr.. Roose-
welt, through Secretary Morgen-
thau, says now that the United
States will stand with Great Britain
in helping the French. The question
naturally arises why did not the
United States stand with France
in 1888 when France and a half
dozen other European nations want
ed to remain on the gold standard
for its currency.
Personally, have never seen any
reason why the United States should
have devalued it's dollar as was
done. If we had not devalued, one
thing is quite certain: Maintenance
of the gold standard by the United
| States would have continued to
strengthen the currency of those
countries in Europe, including
France, that desired to continue
that currency basis.
/ have heard it said as well that
if the United States had remained
on the gold standard instead of de-
valuing its dollar, Great Britain