The Skyland post. [volume] (West Jefferson, N.C.) 193?-1988, 1939-06-08


ment is turning out to be exact
ly what experienced political OBJ
servers had been predicting it
would turn out to be-just talk.
That goes for Congress and
for the Executive branch of the
Government as well. It goes for
Republicans and Democrats in
Congress, for New Dealers and
for conservative Democrats as
well.
The plain fact is that politi-
clans are not alarmed over the
increasing national debt, but are
concerned with appropriating
more money which has to
be borrowed and distributing the
borrowed money where it will do
them, personally or their party
organizations, the most good.
Two recent instances indicate
this attitude in Washington, where
the present Government policy is
described as Misunderstanding"
One is the address of President
Roosevelt to the convention of
the American Retail Federation.
The other is the acquiescence of
Senators and Representatives of
all shades of political opinion, of
every party and faction, in agree
ing to add $4O0, 100000 to the ex-
penditures for farm relief, with
out a record vote.
The Presidents talk to the re-
tailers is regarded here as
statement of the Administration
policy in regard to debt and tax
eS.
The President said, in effect,
that there is no need for anyone
to be concerned about the growth
of the public debt, since the peo-
pie are borrowing money from
themselves anyway; and that the
borrowed money is being spent
for things which benefit every
body and will eventually result
in improving business conditions.
Advocated BY Eccles
This is substantially the poll
cy which has been advocated by
Mariner S. Eccles, chairman of
the Federal Reserve Board,
whose influence with the Presi-
dent in financial matters is now
considered to be greater than
that of the Secretary of the
Treasury.
The Treasury is, however,
more closely in accord with thd
President on the matters of tax
revision than it has been for
some weeks. The Treasury's at
titude has been for a long time
that the only way to increase the
national income, which means the
individual incomes of citizens
and business enterprises, is to re-
peal or modify the taxes which
prevent idle capital from engag-
ing in new enterprises or ex-
banding old ones.
The President has been strong
ly opposed to tax reductions
which are not compensated for
by additional taxes in other di-
rections. How far he will 60
along with Congress and the
Treasury remains to be seen.
There has been a noticeable
shift in the atmosphere of politi-
cal Washington in recent weeks.
1t can hardly be said that the op-
position to the President and his
policies within the ranks of his
own party has diminished ma
terially, but there are outward
signs of a more friendly feeling
on both sides.
Expert sign-readers interpret
the present situation as indicat-
ing that the President is hopeful
of reuniting the Democratic par
ty so as to insure himself third
term nomination, and that all but
a few of his most bitter oppo-
nents inside the party are begin
ming to wonder whether the Dem
ocrats have a chance to elect any,
one in 1910 except Mr.. Roosevelt
himself.
If that opinion becomes a con-
viction, party expediency and the
personal political futures of num-
erous Democratic leaders will ov-
er-rule personal antipathies and
dictate the support of the Presi-
dent for a third term.
Garner Boom Alive.
That is not to say that the
Garner boom for the Presidential
nomination is dead. It is still We
ry much alive. But Democrats
are asking themselves and each
other whether it would be safe
to put up anybody with a less
widespread personal following
than Mr.. Roosevelt himself, to
contest against whatever candi-
date the Republicans NAV norni-