The Republican. [volume] (Oakland, Md.) 1877-current, 1940-08-08

longer can invest. And they know
or, at any rate, should-that in the
Administration there exists an infu-
entail group, exceedingly hostile to
the whole idea of private insurance,
eager to seize and regulate these in
stitutions, to get their hands on these
great pools Of money. What prevented
revolt of the policyholders in 1886
that would have checked this runaway
horse? Why, in their own interests, do
they not revolt now?
#*#
There are several answers which
seem adequate enough now but will
hardly satisfy students of history, say
fifty years from now. First, there IS
the contention that the great bulk Of
these threatened policyholders have
never stopped to think things through,
and that a considerable number Of
them do not think clearly anyhow.
There is the further explanation that
in 1888 they were so deeply in love
with Mr.. Roosevelt that they We're
willing o accept his views about any
thing without question. When that
lovely voice told them that what once
he had said was terrible was now
really wonderful, they just swallowed
ii and followed him. Also, he put on
in Washington so glittering and gor-
geous a show, and so fiercely assailed
those who criticized or dissented, that
the thought processes of his followers
were practically paralyzed by admira-
ton for the man.
##M
Then, too, all through his first term
and for two years of his second the
President, while pouring out the BIZ
lions, still promised balanced bud
get and talked of economy and taxes.
All of which was soothing to those
whose intelligence, if they had not
been too inert to exercise it, would
have told them that what he was doing
was deadly dangerous. But, since 1888,
the word Economy" has been stricken
from his lexicon and he, personally,
has killed every effort Of Congress to
reduce government expenses. At no
time in the last two years has he so
much as touched upon the subject of
budget balancing. AS for taxes, it was
Congress, not the President, which
sponsored the utterly inadequate tax
bill at this session supposed to accom-
pany the initial defense appropria-
tions. The President, after asking for
the first four billion, suggested that
Congress might go home and blithely
said that the question Of taxes could
be taken up later-in other words,
after the election.
#*
But most frightening of all is the
Democratic platform upon which Nj.
Roosevelt stands today asking for a
third term. In that platform there is
no mention Of the budget, no mention
of taxes or deficit or debt or retrench-
ment. The whole subject of Federal
finances is treated almost as though it
did not exist. The appalling condition
OF the Treasury is ignored. The sub
ject is passed up as though there were
no such thing as a Federal financial
problem. 1t is a singular and glazing
omission. 1t seems to assume that the
great majority of the American peo-
pie are too boobish to know what is
being done to them, or why, OF by
whom.
Apparently, it is the New Deal
hope that the PROBLEMS arising from
the international crisis will be so great
that they will totally obscure all do
nestle issues. If they can mango it,
the campaign will hinge wholly on
foreign affairs and all else be forgot
ten. 1t is an impudent effort to hide
failure and to conceal facts. Up to
now there has been relatively little
comment upon this extraordinary eff
fort to dismiss the exceedingly sick
national finances as something too
trivial to discuss. But there will be a
good deal before the fight is ended.
There is reason to think that Mr.. Will
kie will give some attention to it in
his speech of acceptance and that MI.
Roosevelt will not be permitted to
maintain this pose of aloof indiffer-
ence to the tragic situation for which
he is responsible. This game of pass
ing it all by as though there were
no such thing as a debt OF a deficit
ought to be brought home to those
sixty million insurance policyholders.
If thew are not alarmed NV that +he,,