The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1938-07-07

WASHINGTON.-It is entirely
possible that many people have
failed to piece to-
Great Wealth gether several de-
On Grill velopments of ma
tional import late
ly, and may have missed the signif-
icance of an action of congress in
its closing days. The two incidents
to which I refer are the federal
grand jury indictment at South
Bend, Ind, of number Of automo-
bile manufacturing executives and
the action of congress in adoption
OF a resolution providing for a
broad-gauge inquiry into big bust
ness. The two, when pieced togeth-
er, spell sensational drive against
the "malefactors of great wealth. "
The result? Well, let's examine
the scheme, the pattern and the
prospects.
There was a period In 1895, 1t
will be recalled, when business in
terests felt that President Roosevelt
was preparing to follow a middle
of-the-road policy as far as govern
ment relations with business was
concerned. During that period, there
was a considerable improvement
in general business. In that interim
Of time, as far as any observers
could reach a conclusion, the Presi-
dent was relying on advice from
many men in whom business had
confidence. But there came a sud-
den end. Out of the clear sky, Mr..
Roosevelt proposed reorganization
of the Supreme court Of the United
States and the addition Of six
justices whom he could appoint at
once. Through weeks of battle
when it became apparent that one
guess was as good as another wheth-
er the President would win, business
men and women again became
afraid. That was when the present
depression began. It was also the
time when Mr.. Roosevelt turned
away from his previous close adj
visers and began listening to the
new brain trust which has come to
be known as the board Of
strategy"
AS the depression became sharp
er and the numbers of unemployed
increased with startling rapidly,
the board Of strategy sought means
to Offset the condition. The group
also had to find a goat-which is
always done when plans 60 awry.
There followed then the vicious and
Incorporate attacks on "big BUSH
ness" by the trust-busting Robert
H. jackson, then favored at the
White House as the next Democratic
candidate for the New York COVER
norship. Secretary Ickes also let
loose his vocabulary and none can
deny the interior secretary's capac-
ity for speaking biting words. For
weeks and weeks, we were treated
to a barrage Of words in which "big
business" was pictured as beyond
the pale of good citizenry and ought
to be destroyed.
The trust-busting drive was not
as successful in gaining public &C
claim as had been hoped for. The
truth is that it failed to get the
country excited at all and the profit
to the trust busters did not materi-
alize as had been the case when
"Teddy" Roosevelt was swinging
big stick of demagoguery in the
same field of political endeavor.
indeed, this drive Topped at the start
whereas the drive by the earlier
Roosevelt was good politics for
several years.
It was here, according to the best
information available, that the tao
tics changed. The change in meth
DDS is the real reason for the story.
Thus, it can be said that the trust
busting drive is still going on as
strong as ever but it is going on in
several fields without any apparent
connection because the board of
strategy has lost none Of its de-
termination to convince the nation
that it is being ruined by those
same malefactors of great wealth
toward which Teddy Roosevelt
waved his fist and barred his teeth.
Now, to put the pieces Of the pic
ture together. The first section COM
prises the indict-
HoID the ment of the auto
Picture Looks mobile moguls, Ed
sci Ford, Walter P.
Chrysler, Alfred P. Sloan and Will
liam Knudsen, among some sixty
odd officials OF Ford, Chrysler and
General Motors and the companies
affiliated with them in the financing
of motor cars bought on the INSTALL
ment plan. They are charged with
violation Of the antitrust laws, al
though how anybody can believe the
Ford interests ever could or would
play ball with the other two, have
been unable to see. Anyway,
big news stories were carried by
the press services from South Bend,
and the department Of justice here
had much background" informa-
ton which officials were delighted
to hand to any inquiring reporter.
They did this in order to cooperate
with the press inasmuch as the
story was so sensational and so
vast in scope that none of us writer's
here could possibly be permitted to
miss any phase of it.
The other phase Of the continuing
drive against "big business" takes
the form Of a great inquiry, thinly
disguised as general study of bust
ness practices. It is q somewhat