Milford chronicle., 1938-08-12
ECONOMIC HICHLlGHTS
HAPpEEiEcs THAT AFFfcr THE DiNNER
PAILs, DIVIDEND CHEcKs AND TAX
BILLS or EVERY INDIVIDUAL
National and International Pr0bleDs
fasefirabls from Local WeltaTe

More talk is going the rounds con-
corning the possibility of Mr.. Roose-
welt running for a third term. A con-
siderable part Of the talk is based
upon unfounded rumor-but there is
leayening Of hard fact that points
to a number Of interesting ronclu-
sions.
There are various obvious barriers
to any presidents third-term ambf-
tions. In the first place. the strain
OF the White House usually Is a man
killer-as the fact that we have new
er had more than two ex-presidents
living at one time indicates. How
ever in the case Of Mr.. Roosevelt.
this is not as important as in the
case Of most Of his predecessors mo
president since his distant cousin
Theodore has seemed to thrive so
well on the colossal labors that fall
upon the Chief Executive. w
In the second place, the ''no-third-
term" tradition is still held by mill
lions Of voters. Various polls. such
as those conducted periodically by
Fortune, show that the majority Of
the people, including those favorable
to the New Deal and the President.
are generally opposed to more than
eight years Of office for any presi-
dent.
In the third place-and this is es-
pecialIy true today--a president who
is known to be seeking a third term
cannot help but meet stiff opposition
within his party ranks. Many sena-
tors, governors, government Off
cials and others envisage themselves
in the role of national leader. They
seek the mantle of greatness. And
while they will not, for the most
part, openly oppose an ineumbent's
third-term ambitions, they will US
ually pull all the strings they can,
privately, to make 1t impossible.
Looking at the other side Of the
picture, there are valid reasons to
indicate that Mr.. Roosevelt has an
excellent chance to run again for
his office-whether he seeks It or is
drafted by his party. The New Deal
is very largely a personal thing
and the dominant personality is Mr..
Roosevelt. He has his satellites and
official followers, Of course, but none
of them loom large enough in the
public eye to be first-rate presiden-
tial candidates. All the talk centers
around Mr.. Roosevelt He gets the
blame and the praise for everything
the government does. No man In his
party stands out, for example, as
Hoover did when Coolidge was Pres
ident. His cabinet seems to contain
no one, with the possible exception
of Secretary Hull, whose advancing
years practically preclude his can
didaey, who could be counted upon
as dependable vote-winning bearer
for the Democratic party.
Governor McNutt has the person.
ality, many believe, and he apparent
" wants the nomination-but It is
also believed Mr.. Roosevelt opposes
him. There is talk about Postmaster
General Farley-but Mr.. Farley, so
far as is known, has no economic or
social philosophy. It is generally |
thought that he would work as hard |
for a conservative president as he
does for Mr.. Roosevelt. Mr. Farley's
dominant characteristic is loyalty.
to whoever is head of the party he
belongs to.
Most important Of all is this
question: Does the President want
a third-term? He hasn't said yes.
Mrs. Perkins recently made head
lines when she recounted how she
had asked the President the ques-
tion-and said that he looked
out Of the window,
smiled, and gave no answer. And he
hasn't said no. There is a sound
reason for this, even If he doesn't
seek the nomination. If he declared
himself out of it, the party would
iairly seeth with efforts Of Demo-
,rats to put themselves forward. BY
saying nothing, he keeps his party
at the same time keeps
his underlings on tenterhooks.
II is a reasonable suppositiOn, held
" the best-informed commentators,
hat the President hasn't yet made
ID his mind. The question Of pre-
,edent doesn't worry him-as he Of
en- says, he has shattered more pre-
.edents than any president. and he
,rides himself on II. And there
eerns to be no problem Of physical
healt hand energy al
ways astound White House attaches.
rhus, the view is growing that 1t
m depends upon conditions two
ears from now-thet IL the time
GEMS ripe, Nj. Roosevelt win run
gain, and that If It doesn't. he Will
etire aad dicta.e the choice Of his
uccessor for the nomination.
600
The business outinSE continues 70
improve. As one business magazine
uts It, Prospects Of a business re-
ivai we're never better"
The lift IN the stock market has
cen sustained-which has con-
ounded some of the experts who at
rst regarded It as a minor and tent
orary furry.
The summer business decline was
ass severe than many anticipated.
nd the ground lost by seasonal
hange Is being rapidly regained in
lost lines. Steel operation has
lade important sains. Electric out
at Is getting closer to last years
ecord levels. Even carloadines are
Improving the railroad
roblem gets worse. rather than bet Z