Evening star., 1937-11-16

could possibly ~
have made. In fact, if the message
Is viewed in military terms as a
strategic retreat but with an i'm
pressive rear guard action, some idea
of the true significance Of its march
can be obtained.
The message will be helpful to busi-
ness and is to be commended for the
restraint it breathes both in tone and
purpose. The President calls for cor
dial and confident cooperation not
only between government and every
kind of citizen-but also between
every kind of citizen and his Gov
ernment."
In those words may be read the
pledge of a new era and new atti-
tude, something for which critics have
contended for more than three years.
It makes the criticism that has been
spoken and written, irrespective of
the shafts of intolerant supporters of
the administration. even more worth
while now that Mr.. Roosevelt has
accepted the course that has been
repeatedly urged upon him.
Appeal to Be Echoed.
The appeal for cooperation will
be widely echoed and it will be ac-
cepted by business men Of large and
small enterprises. The reason is that
when the President of the United
States frankly comedies that there
has been "a marked recession in in
dustrial production and industrial
purchases following a fairly steady
advance for more than four years. 'it
Is no time for quibbling about politics
or personalities. but time for genu-
line cooperation.
The skeptics will, of course, won-
der if the President will square his
words about helping business with his
Performance in the future. The an
'swer is that the President has no
other choice. Public funds for pump
printing" have run out. Private funds
for pump printing" must take their
place, and Mr.. Roosevelt knows when
that stage is reached he must have
the whole-hearted cooperation of
the very men who manage the pro-
duction and distribution and finan-
cial enterprises of the Nation
The President is right when he says
that underlying conditions are not un-
favorable" and he is even more reas-
suring when he adds that obviously
an immediate task is to try to increase
the use of private capital to create
employment" There are many parts
Of the speech that will irk conserva-
tives because here and there the Presi-
dent returns to his pet theories about
purchasing power. Yet in the follow
Ing paragraph from the message, con-
servatives, liberals and radicals can
nnd meeting ground If they wish:
Private enterprise with co-opera-
ton on the part of government can ad-
vance to higher levels of industrial
activity than those reached earlier
this year. Such advance will assure
balanced budgets. But also. govern
ment cannot let nature take its course
without regard to consequences. If
private enterprise does not respond
government must take up the slack"
Looks to Private Capital.
This is but another way of saying
that an overnight balancing of the
budget or complete stoppage suddenly
>of all Government spending would be
more harmful than beneficial to the
economic system. The essential point
Is that the President looks to the sys-
tenn OF private capital and initiative
to get the country out of the depression
11y, far tIo f,,f,
body could ask for more concrete
concession to conservative argument
than Mr.. Roosevelt has just made.
What the whole message really does
Is to state the problems of the hour
with tone and purpose that makes
them palatable to all but the groups
which have made up their minds that
nothing the Roosevelt administration
Will ever do can be right.
This correspondent and others who
have questioned the Presidents poll
cies and who will continue to do so
when they appear to be headed in a
wrong direction believe in the obiec-
tives and purposes of legitimate lib
eralism. And when Mr. Roosevelt ex-
presses doctrine in conformity with
sound economics and principles that
have become almost automatic in the
experience of the Nation, there is every
sreason to applaud.
Comments on Taxation.
The Presidents comments about tax-
alton are couched in broad terms, but
they are eminently more satisfactory
than any mention he has ever made
OF changes in our tax laws. In this
Mr.. Roosevelt is following closely the
outline of policy made last week by
Secretary of the Treasury Morgenthau
IN his address before the American
Academy of Political Science. The
emphasis on the needs of smaller busi-
nesses is especially encouraging and
the public will do we'll not to overlook
this phraseology in that connection:
Small businesses or even those of
average size have difficulties of financ-
ing and distribution which are not
shared by large corporations"
This is precisely what has been con-
tended about the administrations pol
acles heretofore, that they help the
monopolleS and hurt the small busi-
nesses OF America, and that whether
4. this was intentional or inadvertent
the effect is the same.
Naturally the Presidents references
to the proposed wage and hour bill
will be minutely examined. He has
not changed his purpose but he has
changed his pace. Uniform minimum
hour and wage standards is not an
immediate legislative aim but IAN ulti-
mate goal" This means that even
tually America will work out a plan
Tor minimum wages and maximum
hours on which both Federal and State
governments can operate together and
thus prevent unjust competition be-
tween States of low and high stand
ASNs pasparf{vaIu. . A>~{S,h hln rS.&>.