The times-news., 1937-11-25
ECONOMISTS VIEWS IN PRESENT
EMERGENCY

Critics of the national administration
are frequently invited by its supporters to
suggest plans and ways and means for i'm
provement of new deal policies. The crit
les are charged with having nothing to Of
fer to take the place of administration
policies. If that were strictly true in all
cases the new dealers would have very
much the best of the argument Records
will show, of course, that it is not always
true. Some criticiSe who have nothing to
offer that could be adjudged better than
tions that strongly appeal to the conserva-
tive groups of the country. These sugges-
tions have no merit in the views of the
radicals, which is no more or less than is
to be expected.
In his column in The Charlotte News.
Gen. Hugh Johnson quotes Prof. Spahr of
New York University as the author of a
platform of action which the General
heartily endorses. We quote Gen. john
son.:
There can be no mistaking what the new pro-
gram meanS--it is an ultimatum to capitalism TO
bring about prosperity or take the consequences.
Unless business does recover then in six months,
or in nine months or year, there will be but one
course 10 take, and Roosevelt will take it,
namely nationaze the railroads, the utilities and
the insurance companies. The economic crisis put
capitalism on the spot. The utter unfairness and
demagoguery involved in the administrations TAX
ing such position after being chiefly responsible
for the present recession, ought to be clear. This
is particularly true for administration which
so recently said of the late business recovery that
we MANNED it that way and don't let anyone tell
you differently
''The hope of this nation must lie with congress.
Until congress demonstrates that il has under
standing of the economic situation, and rises to its
responsibilities the people of this nation cannot
have any great assurance to what the future
holds for them"
Professor Spahr suggested that the federal bud
get be balanced by cutting down expenses, not by
increasing taxes; that the tax undisributed cor
porate surpluses be repealed that the capital gains
tax be revised to recognize capital losses; that we
return TO a sound currency by returning 10 gold
standard at the present weight Of the dollar that
there be no further initiation of the currency that
the government cease harassing and competing uu-
fairly with private business enterprise; that the
Wagner Act be amended so as TO make il equitable
and impartial in its operation that the problem
of relief be returned to the states; that the engen-
derng of class hatred and of class struggle
that there be a definite return to constitutional
law and government, by showing Scrupulous re-
gard for our check and balance system, by building
up thorough-going system of civil service, by de-
yeloping a responsible cabinet government and by
according q proper respect for, and protection of,
the integrity and high calibre of supreme court
eff these policies were adopted. the country
4bo ONION hat
we are to have sound and lasting recovery. I
have no illusion however, as to the probability
that this administration will adopt such program
for the reason that this administration is concerned
more with politics and wishful thinking than it is
with craftsmanship and sound economies AS n
consequence expect to this nation for the
next few years act like a big numbering truck, in
the hands of an incompetent driver that is
inc down the street, knocking over innocent peO-
nile smashing into business, breaking fire hydrants,
smashing mud in peoples faces, and fear, finally
winding up its mad course by plungng into the
ouieksands of initiation or into of economic
and social chaos"
Prof. Spahr's suggestions for political
or government action in the present crisis
merit the most careful study and consid-
Grafton. Gen. Johnson says If these sug-
gestions were adopted in Washington the
country would receive the encouragement
il needs to bring about sound and lasting
recovery. The General, however, voices
his conviction that these plans and policies
will not be adopted by the administration
because the new dealers are not concerned
with craftsmanship and sound economics;