The Republican. [volume] (Oakland, Md.) 1877-current, 1936-07-02
THE PRESIDENTS SPEECH
Sundays Baltimore SUM

4A1s uOOoCNClL SPCCSIl VI dCSCpIelAISS
was a revelation of mood and feeling,
not an exposition of purposes or policy.
The wealthy people of the country are,
on the whole, against him. Certainly,
what is called organized wealth is bit
terly against him. And the President
accepts battle. He forces battle. Con-
ceiving himself to be the leader of the
great masses of the plain people, small
traders, farmers and workers, he de-
fies "the royalists of the economic
order" and scorns all compromise.
The speech is, therefore, very dra-
matte, but it leaves one somewhat be-
wildered. For you have no more than
the defiance. And you do not dispose
of economic royalists" by chopping
their heads off or even by defeating
them at the polls. You dispose of them
by removing the conditions in which
they thrive and rise to power. Other
wise, they or their successors always
rise again. And not only in the speech
limited to drama. The past is without
significance. How much has Mr.. Roose-
welt done to remove the conditions I'M
der which economic royalists" ap-
pear? 1t seems to US that he has done
very little. He has taxed them. That
hampers them somewhat, but is not
conclusive. He has placed useful re-
strictions upon those who gathered
wealth and power in the shameless
methods Of crooked market operations
and crooked security issues, but they
are part and only part of the "eco-
nomic royalists." What of those men
who have accumulated enormous
wealth and overwhelming power by
taking advantage Of the opportunities
that the old order gave for monopoly?
Mr.. Roosevelt, during most of his adj
ministration has been indifferent to en-
forcement of the antitrust laws and
been laggard in support of Mr.. Hull's
proposals to destroy such hothouses
of monopoly as emborgo tariffs. =.
The fact is that in the beginning of
the Roosevelt Administration, and I'M
til the Supreme Court interviewed, Mr..
Roosevelt accepted the economic
royalists" save those who were out
right brigands. He said last night that
Throughout the nation opportunity
was limited by monopoly" And it was,
in a terrible and outrageous degree.
But Mr.. Roosevelt's remedy was not
destruction of monopoly. 1t was a
superficial attempt at regulation of
monopoly. The regulation was, in fact,
regulation of monopoly by the monop-
olists, although the Government was
theoretical umpire. The NRA codes in
the major industries were under the
domination of the leading corporations
in the several industries. No one
shouted more loudly for the MIRA codes
than men who had long been accused
Of private monopoly. And, as we point
ed out yesterday, the steel companies
are today citing NRA practices in de-
Tense of present attacks by the Govern
ment on collusive pricefixing. Curious
ly, too, the justification of the system
established in the codes was found by
New Dealers in the European nations
that were following "plapned econ
omy" and those nations are the dicta-
torships which Mr.. Roosevelt now de-
nounces and against which he says
we must vindicate economic as we'll
as political freedom.
We do not mention these matters for
the sake of thrashing old straw. We
mention them to show that the record
of the Roosevelt Administration is as
lacking as the Roosevelt speech Of ac-
ceptance in evidence that Mr.. Roose-
welt proposes to remove causes instead
of denouncing effects. And, if one puts
aside the Roosevelt record and the
Roosevelt speech and examines the
carefully drawn Roosevelt platform of
1886, one is still in doubt whether Mr..
Roosevelt wouldnot, if he could, again
attempt to deal with artificial monop-
oily by attempted regulation rather
than by destruction of the causes.
Therefore, though Mr.. Roosevelt's in
,dignation against arrogant and brutal
economic power commands sympathy,
and his concern for those who have
been victims of this power likewise
commands sympathy, his ideas of rem
edy leave one bewildered and un-
anchored. Assuredly, a dramatic bat
tie of votes between the masses. and
the classes will not in itself remove the
evils Of Economic royalty .%oAe hopes
that the President, who spoke feeling!y