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Show Economic Highlights The political battle lines are taking tak-ing definite shape now and what promises tcb e the fight of the century cen-tury is in the offing. Beginning next November and continuing until the Presidential election of 1936, the campaigns will be the bitterest in many years. Within a recent ten days two e-vents e-vents of exceptioual political importance im-portance and interest occurred. First was the meeting of the Republican Re-publican Central Committee, its e-lection e-lection of a national party'chair-.man, party'chair-.man, and its declaration of policy, after a year in which it has done little but mark time. Second was Mr. Roosevelt's June 8th message to Congress, in which he outlined his plans for the future. The new Republican chairman is Henry P. Fletcher of Pennsylvania. Not widely known to the general public, he has long been a political power in his region, is astute, capable, cap-able, and representative of conservative conserv-ative sentiment In the industrial ;east. His job is to attempt to swing j public sentiment into line behind a I policy which is the time-honored i one of tne Republican party with ! o..e or two vital exceptionsfl The committee's ttatement calls for a j "back to the constitution" move-' move-' ment, asks that the sovereignty of tne states be restored, holds that tue present administration threatens threat-ens individual and corporate liberties liber-ties and even menaces the right of free speech. It makes a bow, however, to present trends, by saying say-ing that the nation has been back-'ward back-'ward in social legislation, and that the Federal government must ex-erci ex-erci e a measure of control over in-'dustrial in-'dustrial competition. In this particular partic-ular regard, it apparently differs only in degree frcm the stand of 'Mr. Roosevelt, through the NRA. 1 One difficulty the Republicans still face is dissension within the party. Western Republicans believe !that they usually get the hort-end of the deal in party councils. Minority Mi-nority leader McNary of Oregon, who with Senator Reed of Pennsylvania, Penn-sylvania, is generally regarded as his party's smartest Congressman, Iwas opposed to the election of Mr. Fletcher, and recently told a ra-'dio ra-'dio audience that the "Industrial east must make concessions to the Republicans cf the more liberal and less populous west and midwest." 'However, all the Republicans, with three possible exceptions, will doubtless doubt-less be found in line when election time comes 'round, as will all Democrats Dem-ocrats who count. Mr. Roosevelt's message lata down several principles for nis party to follow both in fighting for recovery and in making election i campaigns. He said that detailed plans would be submitted to the next Congress, and that he especially espec-ially desired the planned use of Uiatural resources, provisions against unemployment and old age, and better housing for the American people. Most striking thing in that is his advocacy of social insurance something no other president has ever done. He said also that he believed be-lieved the insurance should not be paid for by increased taxation, but oy contribution. In the meantime, the Administration Adminis-tration program is undergoing some interesting changes. The NRA is a-oout a-oout to drop its attemnts trv v prices consumers and small Dustiness Dus-tiness men were aggresively opposed to this code provision. That is a retreat, and the Republicans will do a lot of talking about it, will use it in seeking to persuade the 'voters that the recovery program has failed. At the close of 1933, according to the Annalist, the world at large had recovered 40 per cent of the ground lost during the preceding years of depression. Late figure show that world industrial production produc-tion has continued to advance, and is well above 1933 figures Recent reports from England and Germany are extremely encouraging. encourag-ing. Two of the most important barometers ba-rometers of business, Pig iron and steel ingot production are up In England, steel ingot production during April was 97 per cent above the low established in December 1930, and only 19 per cent below the high reached in August, 1929. Exceptional improvement has ilikewise been shown in Russia and Japan. In the case of the last recovery re-covery has hppn. niM . ' .. - '" piuuuuucea of any nation on earth, though a ;set-back recently appeared. S3 far as the . United States is concerned, industry has made comparatively com-paratively small gains since last March. Steel has produced the best 'record. The textile industry, which has made a striking advance in 'the past, is showing signs of curtailment. cur-tailment. Labor troubles continue to be th thorn m the side of industry as a 'whole. A number of important businesses, notably shipping, are Itied up solid in various parts of (the country, and threats of a general gen-eral strike are being made. Local authorities are impotent-all eyes are looking to Washington to provide pro-vide a settlement. As yet, the Fed-eral Fed-eral government . has made few moves, seems to be between the devil and the deep blue sea. |
