Detroit evening times. (Detroit, Mich) 1921-1958, 1942-12-02
WiIlkie Wants
Reasonable
Party Chief
St. Louis Meeting 10 lest
Factions STRENGTH


W Wnlkie intends 10 be "res-
sonable' A. 81. Louis next Mon
DAY, acCol ding 10 Republican
congressional leaders with whom
he has talked on the telephone.
The way they understood II,
he promised 10 approve any new
national chairman who IS not
"a symbol of isolationiSm,
This probably means that John
HOLSTER of Cincinnati, the Taft
laW partner. may be chosen,
possibly in an unexpected atmos-
phere Of floating doves OF party
peace and internal amlcabIlity.
VERNER SHREDDER of Hi
w nois tWho may have nearly
enough votes in his pocket. is
sharply opposed by the New
York Herald Tribune, beSpeak-
ing no doubt the sentiments OF
the Willkie wing, which assumes
re is roo close 10 the Chicago
Tribune. AS he Is from Illinois.
If Shredder makes fight OF
il. a party split will result.
Townsend Of bptd,vErr- tttr
former SENATOR. is a goo d
money raiser. but he has no
strong backing.
II Willkie enters candidate
~ 1prv xfO,,1l F1ranr faNa
more than % or IS votes. which
probably stimulates his desire TO
be reasonable"
DEPUBL1CANS around New
II York accept the 1914 presi.
Dental candidacy of Mr.. Luce,
the magazine publisher, as a
fact, although they may be over
interpreting the efforts at lead.
ership which Mr.. Luce is making
through Time-Life-Fortune en-
terprises.
In this connection or not. his
current Fortune has oddly put
forth a pamphlet supplement TO
the December isSue, which re-
wives the Keynes theory OF
deficit spending as basis FOR
the future America.
Now Mr.. Keynes own British
gov eminent has always Scorned
his theory, and the most eager
OF all New Dealers here touched
II only gingerly
All but Chairman Mariner :.
Eccles Of the Federal Reserve
Board have been backing away
from II lately, fully realizing
that the prospects OF a federal
debt OF $4,000. 900 900 on up 10
$500 OO0, 100000 makes the
further spending OF billions by
the bucketful a rather different
proposition for the future.
THE Luce publication implies
i that the Keynes plan should
be adopted 10 achieve security
and make the government un-
derwrite permanent prosperity
and employment
II would probably do the OPP
poSite and achieve national pow
erty.
In the same issue OF Fortune
is a story Of Mattoon. H., which
says every business man out
there expects a tremendous
boom after the war. built upon
the accumulated demand for
every kind OF civilian goods from
automobiles TO washing ma
chimes
Thai is what most people be-
heIe.
Thus our immediate postwar
problem viii be the opposite Of
what the Keynes theory was
designed 10 meet
The problem Will he to hold
the boom in check for some
years.
nNE reason is that this war
" has proved that government
spending is not efficient.
When business spends. II gets
= dollar value for a dollar spent
or goes to the wall.
Government spending is un-
der political management.
You get things like Tugwells
Requirement or Mrs. RooSevelt's
West Virginia project and
worse.
The Keynes theory in its first
essential assumption is there
fore wrong.
II might make some sense n
the money wen, for productive
housing that would pay back,
or toll bridges, dams and such
income producing projects. but
not enough OF these worth
while projects are in existence
10 sustain a Keynes theory
Furthermore. sensible spend
ing OF this productive chraCter
IA MOI tolerated by Keynes.
NO ONE including Keynes,
~ has ever told where his
venture enGt.
Apparently i contemplates a
continuous increase IN debts,
taxes and spending without con-
cluSlon.
You never get 20 point
where you WIN
This much may he said in
favor OF the Keynes theory. IL
has proved - be profitable poll
tics during The New Deal, TO the
extent that II was tried
II never brought IN anything
but votes, or had any economic
success.
Mr.. EccleS and some others