The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1938-04-11
STOP GOVERNMENT SPENDING

BAD finance. bad economics-and no
helm" is the way The Wall Street Journal
describes the national administrations pro-
,.osal to start borrowing and spending
-.rain on gigantic scale. That this IS not
iro answer to the demands of the present
l.c5lem is the deliberate conclusion OF that
g.eat body of citizens who are not govern
larnt job-holders, who are not living Oft
the government, and who are controlled
by nothing but common sense, sound Judg-
ment, patriotism and the desire and deter
mination TO see normal conditions restored
In the United States.
Five years of this policy should be suf-
Ia tent to demonstrate to any person of in
te:iiaence that the depression" or "reces-
sion cannot be licked and normal and
grosrerous conditions restored in the ma
tioH by the course and policy pursued dur
az ;! ut time. During that period in which
SIC powers that be have moved heaven and
earth to compel our people to lift them
l,vnes out of the slough by their own boot
-trs.rs, the federal debt has been increased
Ii more than TWENTY BILLION DOL
LIARS and at the present time unemploy-
.-1en5, which this policy was designed to
'urer,ome, is as great as it was five years
ago. and other conditions generally are as
....,3 o. N 1888.
We quote from The Wall Street Journal,
tone Of the sanest and fairest of the coun-
try $ business publications, on this subject
ear, VIC are told, is the thing we must con-
gr., Fear of what? Mostly fear of the spend
.r- and they have the efFrontery to bid the
cation so!low them further. Having led us into
.a, --r rp 10 our waist they all will
r,. xii il we will but follow them until we
I %, ry.r necks
Tac proposal that the federal government
borrow and distribute and one-haf billion
solar -,r pump printing" amounts to such an
il.'tat;on.
True enough. we are having bad time, but
! ap ,aa, has been ever will be bad enough to
, fsstf, .,ztening to the counsels of panic. After
! ..r ar,' climb from the depression of 1929-32,
"a recession of activity in 1887 was not wholly
surprising, Probably not the most perfect gov
.rrmcnt policy could have avoided it entirely,
> p~o5sb.y the most stupid could not honestly have
Seen blamed as the sole cause
. eminent the mistakes of individuals are to
bear the primary blame IS altogether botless
But the governments fiscal policy was con
t.ihutins cause. And that policy, with its mount
inr total of debt and its burden of taxes is the
Principal obstacle to early recovery
( Il the past few wdays there is discernible
p, '..rning air of optimism among business men
, There is more attention to the sound features
nd less emphasis on the dark side. 1t is more
I than coincidence that these signs come when
the congress is determined to do away with the
! most glazing of federal tax ineeuities.
1t would seem merely sanity to encourage any
possibility of natural revival. But no. someone
in Washington now conceives that it would be a
brilliant stroke to tell business community al.
ready made fearful by debt and taxes that all
win be web just as soon as more debt is piled
up, more taxes are incurred.
This is not sanity IT is the counsel of men
beside themselves with panic. But we cannot
bring ourselves yet at least to accept the appar-
emily general belief that President Roosevelt has
& succumbed to such advice.
The London Zoos famous gorilla, Mok
reonnflv diad of the kidnev ailroa ont knou,r