The Western news. [volume] (Libby, Mont.) 1933-current, 1947-06-05
ECONOMIC HIGHLIGHTs

ECONOMlC HIGHLlGhTS
Happenings That Affect the Din
ner Pals, Dividend Checks and Tax
Bills of Every Individual. National
and International Problems INSOFAR
able from Local Welfare.
AS usually happens a year or so
before a Presidential election, talk
is making the rounds concerning the
possibility Of a third-party entrant
into the greatest race on earth. This
idea was preached to Mr.. Wallace
when he was abroad, and he made
statement to the effect that he
sought no office but would be glad
to serve in any capacity that would
advance the cause of peace. Prior
to that Mr.. Wallace had suggested
that Senator Pepper would be a
good standard bearer for a party
whose main plank would be better
relations with Russia. The Senator
declined the honor with alacrity.
The history of third-party move
ments in this country is certainly
not encouraging to possible aspir-
ants The electoral systems plus the
very practical fact that only the
established parties have the local
organizations that get out the vote,
works against them. Even Theodore
Roosevelt, running as an ex-Presi-
dent with an enormous personal
following, couldn't make the grade.
The elder LaFollette was one of the
driving personalities of the time,
but the best he could do was carry
Wisconsin. The last third-party can
didacy that of Representative
Lempke, collapsed like a pricked
balloon. And the perennial minor
party candidates - Socialist, ProhH
bition, etc.-rarely carry even 3
single u. S. county. This is defin-
itcly d tWo-party nation.
The next election. it seems certain, |
will be a fairly exact reflection of
the Roosevelt Willkie race to the |
extent that there will be no i'm
portant difference over what our
foreign policy should be. The iso-
lationists. in either party, are now
so heavily outnumbered that they /
consequence. will be almost entire 4
ly conducted on domestic issues
unless, of course, some great and 4
event occurs to entirely \
change the outlook.
It is taken for granted now that
Mr.. Truman will be the Democratic
candidate. He will dominate the con-
vention and write his own ticket
At the moment, the Republicans in
the strongest positions are Taft,
and Dewey, with StaS-
sen and Warren as the principal
lesser contenders Party solidarity
on major domestic problems is rea-
sonably good, and there should be
no important OBJECTIONS of the kind
that occurred during the Roosevelt
campaign when many big-name Re
publicans backed him.
The issues on which the campaign
will be fought are in the making
now. One is labor It has been fore
cast that if Congress passes a
tough labor bill, such as that APP
proved by the House, President
Truman may veto it. This, should it
happen, will give the Republicans
a powerful talking point, particu-
larly if more major strikes occur
between now and election.
Taxation is another lively issue.
Mr. Truman has consistently said
that he is opposed to any tax reduc-
lion now. Secretary Snyder has
spoken against it before Congress-
onal committees. The Republican
leadership believes substantial tax
reduction is both feasible and wise,
md it has the votes to pass some
1ind of bill, Again, should Mr..
Truman resort to the veto, an open
md shut issue would be created.
The SIZE of the budget will make
mother good controversy. Mr.. Tru-
mans $37500,000, 900 proposed bud
Iet is being cut in many directions.
nd the Republican fiscal experts
az it can be reduced by at least
:, ZOO, 100000 and probably more,
without endangering the national
efense, or in any way lessening
he efficiency of the government in
roviding essential services. Thus,
Republican national economy
lank is being readied for presen-
alton to the voters.
A President whose party had lost
)ntrol of both branches of Con-
reSs would normallylbe regarded as
hopeless standard bearer. Usually.
SIS of but one branch at mid-term
IS been sufficient to assure defeat
r the incumbent Yet the Repubh-