Worcester Democrat and the ledger-enterprise. (Pocomoke City, Md.) 1921-1953, 1939-01-27

FRIDAY, JANUARY q, 1889
CONGRESS MORE FAVORABLE TO BUSINESS
here is dscernbe in the 10th Congress favorable
attitude business concern for his
problems be asrbed to national legislature since
advent of the New Deal six years ago. writes Alfred Flynn
in Barron's
This probably those congressman who take pleas
heckng business though they may be as vocal as ever
will be less influence when to actually getting eg
aon And that the current Congress will be far
more independent from source
than it's immediate predecessors
At the moment Congress sharply divided on the vital issue
of fiscal policy. The President his reaffmed his
faith spending bring about prosperity his
theory buessed by the opinions of his most important ADVISERS
uch as Chairman Ecces of the Board that the
country should forget about lowering Federal expenditures ana
increasing the national income He estimates that
the national should be increased to
reached $69OOOOOOOoO in the fiscal ending last July i
budget would be balanced due to increased tax
receipts need for relief expenditures And follow
ing the reasoning $9OOOOOOOOOO national income would
balance budget without further boosting taxes
Illustration of how other governments notably Sweden have
employed this spending theory successfully be produced But
opponents the theory point out these have
done their spending for things that produce actual
return while our spending has been primarily for
IT, Senator Byrd of Virginia the leader of strong
group which sharply disputes the view that
emily materially increase income through the lavish dis
bument of federal This thinks that the country
inevitable AS result the spending versus the anspendng
philosophers will crash headn many times before this Congress
Rcossvets request for an extremely large relief budget
The other big issue The President
special has said that in world of force must be
strong poerthat must therefore, embark the
greatest peaceme armament in history There
strong opposition to- this in curousy enough in
those liberal and radical circles which support the New Deal in
tary machine step toward and fascs There
TO Congress The bg-city press Republ
Democratic favor the general though
there differences details Four five
point out the American people would been Mortified
and repealed by such with their eyes on die
Europe the feeling that it is unhappy nee
essity.
Fiscal policy will hold the center of the Con-
gresscnal stage time Then will other items
this Congress railroad problem revision OF the
social security laws revision of the Wagner Act changes the
farm benefit program which badly begged down. legislation
dealing with taxexemp securities and taxation of government
employees promises to be momentous must be-
in this and critical year of world history
At the last reports business activity the average was at
than 20 above Signs OF the uni
winter decnewch economists term
Corrective in the upswingwere appearing 1t is
felt that this decline will be moderate and that Improvement
should again get underway by April before If the attitude OF
Congress friendly that WILL of be extremely bene
ficial factor.
Considerable hope pinned the belief that railroad and
utility buying will be substantially larger this than last tho
these industries which face plenty
of handcaps-largely political
been good but there question as to
long this will nasmuch dealers continue to report
gut greater and taking the profit out
of the retail end of the business.
ono-apted in the position Of the vital durable
goods industries has not yet put in appearance.