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Show rfultetates All New "'' n,ai Theories and Convictions : r deration Speech Seen as Ilis Political Pliilos- V " f0r 191 Campaign; Insists on Continued e iw Yi'ouUl Hold Dow n Pmsiness Profits. e-0 ipfiliiU'r ' Vc,. 1 K By WILLIAM BRUCKART Jt n Service. National Press lhg., Washington, D. C. ,'.rT0N-As the days go more and more that SS -Seven's speech before .e-is1?01: Retail federation 8 amounts to a declara--M''' ",tt political impor-:.n; impor-:.n; be. indeed, that the P 11 ";,;..e'S pronouncements :ua --chants that 1 '"f eventuate as the corner- i f lamination that he re-I re-I -iSall of the New Deal J-t'S convictions. That was-3 was-3 , But more important i Semphasis with which he of-1 of-1 'L i new language, the general ir trthattherewillbe no back-More back-More important to the as a whole, was his de- ;-:ed adherence to the principle : T-.-iiv unlimited government M - '-w because his renewed in-U in-U :Ce'in that direction came at when there is considerable ;.That the country faces further II of its currency. ' seems to be quite a gen-.;-agreement that the retail .-h should be examined in the r.'jjiW.' As far as I can learn, "'ii the view taken by New Deal- "bv old line Democrats, who are ts Ztft to spending policies of r: -.tit five years, and by cautious :--;b'lican observers who are anx- " -'t looking for signs indicating :'' r'ierMr. Roosevelt, himself, will - Va third term in the office of toe rodent While the views of the a ls segments converge, their reads rea-ds .s difler. The New Dealers who r2t Mr. Roosevelt to run for a zsi term desire to consider the each as a preliminary statement, l3'- ; charting of the future course; the 6 ft ii line Democrats who desire to 'i st the party back in Democratic 3VK hiis, rather than in the hands of are ii radical wing, entertain fears rich force consideration of 1940, 'S " d the Republicans secretly are 5 r, :::irg that Mr. Roosevelt will try r, u break the third term precedent. Bosi '.ptech Sought to Court SeL; hw With Retailers wi rare is another reason, apparent ree- ; some observers, why the speech sought to court favor with the P; dealers should be thought of lci- n terms of a year hence. It will :tK ':; remembered that the annual ht-' :ting of the Chamber of Com-"ree Com-"ree of the United States was held :se only two weeks in advance of I5 speech which is the subject of eucb. discussion. Now, I never ::e thought that the Chamber of '"amerce represents very much of country's sentiment. It is made of course, of business interests -t are representative, but as a I -i!ter of cold fact it is dominated , i'i managed and directed by the rally big business of the nation. :'js, it speaks the big business -1 r-:ipoint to the extreme, and like-se like-se in these columns before that -i Chamber of Commerce usually :a kill off projected legislation by ;t s"nple expedient of supporting e It 1 iii But the recent chamber meeting j 'k no notice of Mr. Roosevelt be- , Kid damning his program and pol- P " lock, stock and barrel. The ' President, it seems, took advantage "to opportunity to tell the retail-A retail-A !r about his innermost thoughts as i a offset to the vials of poison scat-' scat-' m about by the big business rep- ft-entatives. He reasserted his ! i on every point to which the j c;3"iber had taken opposition and which there had been fight- speeches made. I suppose if g (!ts sense of humor could be suf-n suf-n 'uent'y detached from the gravity ( situation, they could describe 5 ! "rcunstance as similar to two ft j., au bys who were sticking out . zl tongues at each other as proof U "lhe't anger. Lv a111 actor might be brought - te Picture. You will recall to M 8 0nly a Week or so prior ia , r- Rosevelt'i" speech that he it " an afternoon in conference erJ 4rn some of the legislative leaders. rson ,k m was Senator Pat Harem' Har-em' k o!d"line Mississippi Demo- -- Bs, wtl occupies the post of chair- I rn,ti 016 powerul senate com- 1 Mt 0nLflnance. That is the com- 'a in .! Ch handles tax leSisla- 1 tontere Senate" Incl"ded in the j DoUBu,nce also was Chairman i wa, ' 0f the ho"se committee ittee means- also a tax com- ? J- Tells President t ence is n review 01 that confer- Mr. necessary than to relate how ' h mST 101(1 the President to "ft 1. tax revision ir order " miair ta readiust some of the s'i thrXes on business, and he I ia thi, WUld be tax legislation an D0uSf'On of congress. Chair- rsth tim I0" aPneared to join in not goin, , y" but 1 bel'eve it is ! D0ui, be important whether smon heart .is with Harri son or with Roosevelt. The fighting Pat Harrison is going to obtain some t;ix legislation if it is possible, and ! Mr. Roosevelt will have an opportunity oppor-tunity to veto the bill if he likes. So, in his speech, Mr. Roosevelt took a sideswipe at the proponents of tax changes. Their reasons for demanding tax revision, you see, are based upon a belief that business busi-ness will not go ahead until govern- I ment gives more consideration to ! the burden that is on business. Senator Sen-ator Harrison, along with many other old line Democrats, feels that business can not re-employ workers as long as taxes are unevenly distributed. dis-tributed. That is to say, the Mississippi Mis-sissippi senator is seeking ways by which business will take on workers work-ers and the federal treasury will be free from the enormous appropriations appropria-tions for relief spending. With reference to the Harrison position, however, it should be said here that congress has shown a dozen doz-en yellow streaks about cutting down in spending. It started out talking economy in a big way. It acted, however, by way of voting money out of the treasury wherever wherev-er a new method for spending it was proposed. The individual representative rep-resentative and senator, excepting those boldly aligned with Senator Harrison, displayed the usual cowardice cow-ardice of a political more interested in holding his ten-thousand dollar job than in serving his country. Determined Business Profits Must Be Held to Minimum When Mr. Roosevelt said in his speech, therefore, that he would demand de-mand only that the present distribution distribu-tion of tax levies and rates should remain the same, he was answering answer-ing Senator Harrison's group. In other words, the President has budged from the position and viewpoint view-point he long has held only to the extent that he now says he will not quibble about details; he wants corporations to bear as much tax as heretofore and he will insist upon it. He is determined that business profits must be held to the minimum and there are indications that he will carry such a fight "to the country." Regardless of the tax question and the over regulation to which so many government agencies are addicted ad-dicted in dealing with business, Mr. Roosevelt expressed bis whole thought in one sentence: "You can not expect this administration admin-istration to alter the principles and j the objectives for which we have j struggled the last six years." That declaration encompasses in one sentence germs of great trouble for the Democratic party. Some observers ob-servers here described it as stubborn stub-born statement. It is known, of course, that Mr. Roosevelt can be positively bull-headed in his determination deter-mination when he wishes. Because of this trait, therefore, some of the old line Democrats again are fearful fear-ful of a wide open split in the party. The President laid the greatest stress on federal spending, and he made the rather startling statement that there can be no balanced budget bud-get either this year or next. Which can mean only that there must be more borrowing by the government which now is paying an annual interest in-terest charge of more than $1,000,-000 $1,000,-000 000 on the public debt that is well over $40,000,000,000. In defense of this condition there has been an increase of more than $20,000,000,000 since Mr. Roosevelt took office the President asserted there should be no particular concern about the debt or the interest. What of it, he said, in effect; if there is that interest in-terest to be paid by our children, it will be paid to our children. Smacks Much of Old Argument for Pump Priming In pooh-poohing the public debt and the great interest charge to be met every year, Mr. Roosevelt said the government had to continue spending and creating debt because, otherwise, there would be no business busi-ness for the retailers or any other type of commercial endeavor. It smacked very much of the old argument argu-ment for pump priming and certainly cer-tainly bore out many reports that Marriner S. Eccles. head of the federal reserve banking system has great influence with the President, who used to get his advice on financial finan-cial matters from Secretary Mor-genthau, Mor-genthau, of the treasury. Mr. Ec-cTes Ec-cTes may be regarded, I believe, as one of the most visionary of all of the inner circle of New Dealers In any event, he has preached spending, spending and morep ing by the government as the means of lifting the country out of toe depression by its own bootstraps. boot-straps. It is o this Public debt matter that attention is likely to center more earnestly later on. The debt Ts been growing and growing and |