Show r TIlE THE E DAILY NEW YORK YORE F- F FE I Fin Financial a L Whirligig Y Lr 1 i i g. g I Written lI for fr The Telegram 1 By JAMES McMULLIN l a EDITORS EDITOR'S NOTE Mr Sir lullin 1 Is on a a. short vacation During his absence his al allotted allotted iii- iii space will contain timely and pertinent pertinent perti perti- nent editorial opinion from leading New York York publications Ills His daily feature will be re resumed resumed resumed re- re early in September UPTON SINCLAIR Editorial comment on the nomination of Upton Sinclair as Democratic candidate for governor governor governor gov gov- of California New York Times Times Although Although the administration tion threw its support to Creel his own vic victory victory vic vic- tory was at once adroitly hailed by Sinclair as one for the new deal Chairman Farley Fancy who solemnly indorsed Creel is evidently a little p perturbed by the result Strictly sp speaking speak speak- a ing mg the thc Sinclair demonstration in m California is isone isone ISone one of the inevitable ble byproducts of the new deal If the government sets out to try daring experiments it is certain to raise up experimenters experimenters menters mentors with even more daring Large and lavish promise made by public men induce ambitious ambitious ambitious am am- private men to push the promises still stil higher S S 0 N. N Y T. Tribune Herald The Tribune The tendency toward radical radic l. l experiment in the government ori originated i- i by the brain trust has bas been t to arouse and attract just the sort of following that tha oye overwhelmed overwhelmed over over- whelmed conservatives s in Tuesdays Tuesday's primary Mr Roos Roosevelt velt has only himself to blame if socialists and other radicals abandon old political cal labels to capture nominations by means of oi the Democratic machinery a a aN N N. N Y Daily The News The Democratic nomination nomination nomina nomina- tion Hon of Sinclair in California more or less fakes takes your breath away If the California voters voters voters vot vot- ers could have nominated anybody less fit fitted ed for the job we dont don't know who it could have been If there should be another general strike during his administration there is no telling telling telling tell tell- ing what might happen a a a PROFIT SYSTEM Donald super cabinet member and high among new deal says he cant can't understand why there should be any doubt as to the administrations administration's faith in the profit profit system Mr g knows better than that What Mr really means is he t doesn think th that t any b business business' man is justified in being afraid of the administrations administration's ons on's attitude toward profits But he realizes full well that such doubts exist The fact OP the matter is that over and against many of the nice things which the president General J Johnson Joseph P. P Kennedy John Dickinson S Secretary Roper and a d dozen zen zenor or so other Washington headliners have said about the profit system must musts set t a whole series of things which the administration has done to the profit system To begin with there is this matter of a managed dollar and the hour 24 gold standard standard stand stand- ard Suppose that Mr Addison Simms of Seattie Seattle Seat Seat- tlc tie has saved 1000 out of his earnings over a year and finds some ome ome reliable person who wants ants to morrow 1000 and is willing and able to pay paya fair amount of interest for the of it a use it Suppose Suppose Suppose Sup Sup- pose Mr Simms enters into such an arrangement arrange ment Then the loan contract and the interest payments both go to make up a part of this thing called the profit system And What It Means leans Then what does managed money and controlled controlled con ucon- trolled inflation mean to Mr Simms In brief it mea means s that that his is government at Washington has promised him that when the time comes for his 1000 to be repaid repaid say say next year or two or three years from now now now-he he will get dollars dollars dollars dol dol- dol- dol lars that wont won't buy as much as s the doll dollar r he saved and lent Such being the case how does Mr Simms go about abolt estimating his real profit on the whole affair The answer is that he doesn't because he cant He thinks the matter over carefully and may decide to spend his money or speculate with it Suppose Mr Sim Siam Simms s is in business 4 for himself him him him- self Then what does he have to think about Well VeIl in the he first pla place e there ls is this matter of future taJ taxes cs He Hc can see Washington spending money in the greatest pump priming effort this country ever made He knows that some someday day barring day barring outright repudiation of debts the debts the bill will have to be e paid As a n mari with property property property prop prop- erty and income he wonders what hl his share is going to be and whether when the tax c cOllectors collectors tors let get et through h hs s place in the profit system is going to be very pleasant He simply cant can't help thinking about these things if he thinks at all S a WHIRLIGIG The senate actually passed a birth control bill in the hectic closing days of the recent session ses ses- ses- ses sion but sion-but but only for a few m minutes Nevadas Nevada's paunchy Pat McCarran out of the chamber when the measure re was approved without dissent dissent dis dis dissent sent rushed back when he he heard rd what had happened demanding reconsideration jAs As op opposition opposition opposition op- op to his motion would forced position have force a record record record rec rec- rec- rec ord vote which few senators wanted to lace face th the bill was as hastily recalled put pack back on on the shelL |