Evening star., 1949-06-19

OF course. oy future F<alatsAl ard
econosnis considerations ard
could not be expected lnnaedl-
ately.
The legislation Is hased Ca the
theory ot an expandins American
economy, II aims al full pro<tlse~
ton and full employment un-
like the present ADMINISTERS tian.
or spence bill for !uh employ ~
ment, II hits primarily at de-
p0esSinn rather than imitation II
does not contain the control tea
lures Of the earlier proposal
Planners Identified
Chances OF enactment at this
session admittedly are slim un-
less, IN the words Of one sponsor
ms Senator. We really set into
bad times" Those who have
drawn the legislation argue. hoa =
ever. that the time for preventive
measures Is now. not when an
economic crisis has become an ac~
complished fact.
Conservative business COM
mentators think at least part of
the program will be made Law II
the economy slips very far. The
signs pointing to this possibility
are the decline in steel produc s.
tion. the stock market slufnp. the
unseasoraal rise In unemployment
TO q new postwar peak and fore
casts OF softening farm prices.
The men behind the plan. who
may be called the working arrhi-
tects OF the economic Fair Deal
are Secretary OF Agriculture
Charles r, Brannan. Louis II.
Bean. Agriculture Department.
economist. Dewey Anderson, head
OF the Public Affairs Institute
c. Girard Davidson. Assistant
Secretary OF the Interior. Leon II.
keyserling. q member of the Pres
ident's Council of Economic Nd
sisers: Clark NJ. Clifford of st.
Louis, special counsel to the Pres
ident: Charles 8. Murphy. admin
istrative assistant TO the president.
Oscar r. Ewing, Federal Securiis
Administrator. and Leland Olds, a
member of the Federal. Power
Commission.
| The legislation win be intro.
duced, possibly this month. hy
Democratic Senator's Murray oi
Montana. Thomas OF Utah, Nc
Mahon Of Connecticut, Pepper ol
Florida, Kefauyer Of Tennessee
Humphrey of Minnesota. Spark.
man OF Alabama and kiieore OF
West Virginia. All are regarded
as progressives.
Criticism Invited
The Fair Deal architects think
their bill represents the fsrst at
tempt to translate the economic
theories OF John Maynard Keynes
and Prof. Alvin II. Hansen into a
broad flexible program. They be-
gin by assuming that an average
Of soc. 900 to 750. 900 new Job ep-
portunities q year should be avail
able 10 q growing population and
that there should be m annual
average increase Of at least . 10
per cent In total production.
The measure. called the Eco
nomic Expansion Act OF ieso.
would implement the Employment
Act Of is4s. In which Congress
declared 1t to be the continuing
national policy and responsibility
Of the Federal Government to pro-
mote maximum employment. pro-
duction and purchasing power.
The draft OF the proposal vas sent
for criticism and suggestions TO
500 persons who we're leading sup
porters Of the is4s act.
In the words Of It's senatorial
sponsors, the measure seeks 10
provide a means for the widest
cooperation between the National
Government and industry. labor
agriculture. consumers. State and
local governments and regional
deveiopmental organizations 10
achieve the objeetives Of the
fullest use OF resources and man.
power and TO sustain higt, levels
Of economic activity.
Where soft spots occur. pro-
visions are made for appropriate
and fast action. The purpose ia
10 insure that no shifts In the
economy either Of an iniistsonsry
or denationary character viii be
allowed 10 run alons unattended
until they become dangerous
New Board Planned
The bill niakss possible desas-
nation by the President Of such
facilities ~ appear 10 nerd En-
iareement. Examples would be
steel. freight cars. iron ore.
chromits and Manganese. copper
lead. zinc. baaixite and aluminium.
synthetic fuels. electric powss.
fertilizers and newsprins
The bill provides eight means of
achieving the desired results
These are acceiersted sxnortaxs-
ton: credit insurance. research
and loans: procurement abroad.
utilization OF Gosernment-owned
war plants. Government con-
sfTnetion for ttse by private tn
dszstry: encouragement OF private
investment fn regional develop.
ment. reimbursement cs ANAL
and independent business. ard In
yestigsfson Of usnnOpolasssc re-
stysrtsons On prfsaEx Investment.
There 10 no authorization fer
Government operation of any
business.
The Presidents Coeukai at Eco
monte AdTsMrs wax sef up usd<y
the is4s act. under tsse pgssens
prupomal stse cousscEi would nw
nzppiemsnted hy Nassonsf Eco
nomlc Cooperation Beard sp-
poant@d ~ the Pressdent ard
composed Of Representatives of
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