Evening star. [volume] (Washington, D.C.) 1854-1972, 1940-11-10


parties trying to curb the inevitable evils
of finance capitalism that were appear
ing where finance capitalism was I'M
checked.
The long list of reforms from 1900 TO
1880 had definite aim which they did
not quite realize. They were promoting
a new kind of capitalism which should
challenge finance capitalism. This cap
italism, which, for want of better
word, we may call benevolent capitalism.
1t was trying under the first Roosevelt,
Wilson, La Toilette, the farm bloc and
the so-called progressives and liberals
all over the country to check modify and
control finance capitalism
The object of these early reformers
was to make government represent con-
sumers, workers and small capitalists in
the inevitable conflicts with the func-
tioning of an economy of abundance,
based upon mass production and mass
distribution in a free country with a
high standard of living.
No one thought it out. They called It
"using government as an agency Of
human welfare" They played their eco
Monies by ear: Theodore Roosevelt
coined the phrase, predatory wealth"
and tried to check it. Wilson struggled
for what he called "the new freedom"
The La Follettes and the Progressives
demanded Federal regulation of most OF
the activities of capital, in railroads in
utilities, in banks, in labor relations, in
.~lr1 .I.s.. ~.
restraint of trade. All these reformers
for 80 years, and Bryan before them and
Gen. Weaver before Bryan, seemed to be
the pests of finance capitalism. They
were really catalyzers crystallizing a
new capital structure.
Then came the crash of 1929 and pro-
duced Franklin Roosevelt. Benevolent
capitalism took definite, conscious part
in reshaping the capital structure of the
United States. The catalyzer was be-
ginning to work.
Runs Along ClumsiIy.
1t is pretty messy Today it looks like
a bad lot. 1t doesn't fit any pattern.
1t doesn't make sense. 1t is all catawam-
pus and askew-this benevolent capital
ism. But so was finance capitalism in
the bank credit spree of the twenties-a
miserable mess. Yet this formless,
clumsy. benevolent capitalism is Amer
ica's offering as a substitute for So
cialsm.
Historically it is a part of the instinc-
tive yearning of man for justice which
| is the soul of the Fascist Communist
world revolution. Stain, Hitler and
| Mussolini, representing the proletariat
and using force rather than reason for
their motive power are trying to control
capital in the interest of the common
man. They are making a worse fasco Of
it than Roosevelt. For man can't use
force to establish benevolence
There never can be a benevolent des-
pot because as soon as he gets despotic
powers he becomes arrogant and more
jealous to hold his power than he is to
establish justice. So his benevolence
sours. Benevolent despotism becomes
just depotism. But liberty and democ-
racy are the essence of this benevolent
capitalism. 1t can march only as far
as it goes with free men and their demo-
/ cratic institutions.
The sense of the Roosevelt victory
may be found in the instinct to indorse
| the endeavors of Mr.. Roosevelt as an
heir and assign, a residuary legatee of
the aspirations of the old reformers
from Weaver to Theodore Roosevelt to
Bryan to Wilson to the La Follettes, to
/ the farm bloc. The general idea is to
make capitalism work for the common
man and still leave him free to follow
| his own bent, to enjoy the rewards of
his own qualities, to give him the power
OF his own initiative and keep his nails
| pared.
Would Accept Benevolent Capitalism.
1t is hard job. Indeed, to repeat it
is mess. But tomorrow also is a day.
Mr.. Willkie has declared that he believes
in all the social gains that have been
| established by the New Deal-social
gains affecting labor, curbing capital.
substituting the farmer. That was his
story as he went about the land, preach
ing individualism, production, free enter
prise. He would accept benevolent CAPT.
GdASiil do III ID anu IldTueSS II 10 the
dynamo of the American spirit.
The people preferred Mr.. Roosevelt,
but they cannot ignore Wendell Willkie.
1t was by no chance that, as the leader
of this movement, he came out of a
| family Of Bryan Democrats, and that
Theodore Roosevelt was the ideal of his
youth. or that he sympathized with La
Toilette and voted once for Franklin
Roosevelt. He has what it takes. He
represents something that the modern
Rooseveltians have neglected-the COM
mon man. The little businessman, the
middle-class professor, lawyer, doctor,
builder, farmer, craftsman, all these are
rallying around Mr.. Willkie. They gave
him his $4,000, 900 votes. They are happy
with his leadership. He is trying to
change somewhat the essence of the
| catalyzer, but obviously he is not trying
to recrystallize the economic and social
structure, even sloppy as it stands after
eight years of benevolent finance.
The one net gain out CT the whole
campaign is that both leaders, Mr..
Roosevelt and Mr.. Willkie, agree that
the core of our foreign policy is to help
Great Britain with all material aid. Both
defined all material aid as all that we
may safely spare and legally send. That
Is national policy, revealed by the cam
paign SO far as the titular leadership Of