Evening star., 1939-07-22
Disagreement Greets
Roosevelt Warninu
On Neutrality Delay
Vondenbere Cites Rise
In Stocks as Answer
To Presidents Gloom
By the Associated Press.

Senatorial and business commen-
tators were in disagreement for the
most part today on yesterdays dec
laration by President Roosevelt that
failure of Congress to revise the
neutrality law at this session will be
damaging to currently improving
industrial conditions.
One observer, Senator Vanden-
berg, Republican. of Michigan, pro-
fessed to be uncertain what boom
is about to be Debated unless it's
the third-term BOOM"
Mr.. Roosevelt told reporters YES
terday at Hyde Park, N. Y, that a
we'll known business man who called
at the White House recently had
stated that congressional inactivity
on the neutrality issue was killing
the incest little business boom YOU
ever saw.
Rising in the Senate, Senator
Vandenberg read newspaper head
line about the Presidents remarks.
then turned to the market page and
read another headline which said
Stocks Spurt ST to SO in Fast
Trading"
I'm not clear what boom it is
the Senate is about to deflate unless
It's the third term boom" the Michi-
gan Republican commented.
Poppycock, Says johnson.
Mr.. Roosevelt contended that, be-
cause of uncertainty about the kind
OF neutrality law Congress might
enact next year, business men did
not want to make commitments.
That's poppycock,' remarked
Senator johnson. Republican of Cali
fornia, one of the isolationists.
Senator McNary of Oregon, the
Republican leader, observed to re-
porters here:
L can see no reason why there
should be any slowing up in the
economic procession because of the
failure of Congress to follow the
President on neutrality legislation.
Under the existing law our Nation
can do business throughout the
world"
Chairman Pittman, Democrat, of
Nevada, of the Senate Foreign Re-
lations Committee also gave his
views, in response to neWsmen's re-
quests, regarding the possible effect
on business of the decision to delay
neutrality revision until next session.
Saying he made his statement with
out any reference to the President,
Senator Pittman continued.
Its possible that the Senate's
refusal to act on neutrality will defeS
expansion on munitions works.
said possibly; I don't know"
Sought Senate Action.
President Roosevelt and Secre.
tary of State Hull had tried in vain
to obtain Senate action on their
proposal to repeal the arms embargo
provision of the neutrality law
This provision directs the President.
whenever he finds a state of war
existing between two foreign ma
tions, to ban the shipment of arms
ammunition and implements of war
to them. Secretary Hull contendeG
that its existence might tempt we'll
armed nations bent on conquest to
start a war knowing that less we'll
prepared countries would be unable
to obtain arms from the United
States. Foes of the repeal proposal!
argued that to adopt it would be to
take sides with France and England
in their troubles with Germany.
Abandonment of efforts to repeal
the embargo provision at this session
was agreed on Tuesday night when
Senate Democratic and Republican
leaders conferred with the President
and Mr. Hull. A week ago Tuesday
the Senate Foreign Relations Com
mittee had voted to postpone con-
sideration of neutrality revision.
Industrialists and financial lead
erS who were questioned III New
York yesterday about the Presidents
statement that the delay would hurt
business disagreed with him, for the
most part. Opinion was mixed
among them, however, as to whether
revision of the act would tend to
prevent war.
Business Pickup Begun.
Generally speaking, the leaders
questioned agreed that a subStan-
tial business pickup was under way
and that it was due in part to belief
that general war in Europe was
not likely in the immediate future.
Mr.. Roosevelts remarks yesterday
came before the New York stock
market had closed for the day,
Apparently, they had little effect on
stock prices. The Associated Press
index for go stocks was up 9/10 of a
point at the close, lower than the
best for the morning but above the
days low.
The President provided some ma
terlal for renewed discussion in the
Capital as to the chances of his
carrying the neutrality revision is
sue to the country between now and
the next session. He said there was,
and could be, no immediate neu-
trallty issue before the country.
About all we could do between now
and January, he added, was pray.
and pray awfully hard, that there
would not be another crisis in inter-
national affairs. !