Show THE SALT LAKE TRIBUNft SUNDAY MORNING MARCH C 1 22 1936 HAVE MARGIN IN POLL Bonus Farm Blocs Renew Drive as Impatient Congress Seeks Ways and Means to Raise Revenue During Election Year March 21— Three times since President Roose-ve- lt entered the White House Inflation talk has spiralled into public attention and twice it has pancaked again In 1933 it centered about the emergency spending program last year the Patman bonus bill helped to bring it to the front this year a coalition of bonus and farm aid forces have limelighted the sub"VIEW YORK A ’ P ’ ject again In the meantime most economists agree the federal government’s lending and its devaluation of the dollar have amounted for a measure of “inflation” —or “reflation” — which has been described for the public as “corrective inflation” ' There has been a rise in the level of prices there has been a rise in the wage level To- -' day active forces in congress are urging the government to Issue more currency in an effort to raise prices further Much attention centers about that effort Will it pancake like previous inflation movements? (V man still seeks signatures to force a house bonus inflation vote he has conceded that chances of putting the currency expansion measure across depend “on the kind of bill that comes out” Significantly the Patman petition has obtained only a fraction of the 218 signatures necessary to force a vote fpHE government tax proposal makes no reference to further farm mortgage refinancing however Previously "the administration’s stand against the Frazier-Lemk- e inflation bill for mortgage refinancing gave undoubted impetus to third party sentiment in the northwestern states These were the states where an unprecedented farm strike in the summer and autumn of 1932 blockaded farm products from the markets in an effort to raise agricultural prices Out of this strike developed the mortgage moratorium movewhen ment angry farmers blocked foreclosures through a wide swath of states and kidnaped judges who sought to execute such foreclosures In these states a vengeful electorate turned on the Republican administration of 1928 and was instrumental in Comparison between today’s the election of Roosevelt poll and similar polls on the Does the present administrasame subject in 1934 and 1935 tion risk losing the same voters this November? indicate that popular support Today’s poll together with for currency inflation has diminin ished Fundamentally there is the Institute poll reported The Tribune la£t Sunday indinot so much demand for new cates that the answer is no With the exception of Kan money now as there was during the previous two years But the sas and Iowa the principal farm circumstances in congress are belt states indicated greater strength for Roosevelt this different this year month than they did in January Facing an election campaign or February Third party next fall scores of congressmen strength diminished in the same have voiced their unwillingness period of time from about 5 per to pass a new tax bill Yet the cent of the total vote to 37 per cent Western voters who are bonus payment bill of last Janudissatisfied with the benefits ary must be provided for the received from federal agencies administration plans to continue like the farm credit administraaid to farmers in lieu of A A A tion haye no promise of better subsidies and a powerful bloc treatment in Republican ranks The other section in which inseeks to refinance millions of flationary mortgage aid would farm mortgages that have been be most welcome — the south-imillstoned around the country’s firmly within Democratic agricultural neck In an election ranks One individual — Senator Huey year new currency might be a Long— might have swung the very alluring (Solution to these balance of power in these states difficulties with an inflation lever just as he threatened to do with a THE house of representaplank at the tives burly Wright Patman time of his assassination In (D) of Texas stands out as the stitute polls conducted during champion of new currency His the past months show that third drive to pay the bonus in green- party sentiment particularly in the smith reached its highest backs he has said was in an point just before Long’s death ticipation of a demand by the ' Long’s death apparently White House for new taxes or leaves only one figure who might wield a comparable innew bond issues fluence— the Rev Charles E of to and scores To Patman The radio priest has Coughlin other southern and western been energetic in furthering the congressmen either would be cause of the Frazier-Lembill anathema The choice is be but his greatest following ap tween “more bonds ana the im pears to be in states not particufavorable to the inflation position of new taxes” or the larly measure The south speclfi use “withih safe limitations of cally does not listen to him the the gold and silver in the treas- way it listened to Huey ury as a basis to save the people that much in taxes” Next Week— Spoils With his colleague in the senate Senator Elmer Thomas (D) To the Victor? of Oklahoma Patman has promised to fight a Chateau-ThierThe Roosevelt administer tlon hu added approximately’ against all new tax legislation 2S0000 persona to the direct He has hinted that his group will e of the federal ' 1 ‘ V t ? Share-the-Weal- th ke I ry payroll government Discovering that only one In 107 w err' brought In under civil service requirements defenders of the merit system have cried: “Spoils!” ' James A Farley patronage dispenser replies that the mw clerks were hired during a grave emergency when there was no time to wait for the slow routine of the merit sys-teto supply candidates The question of the civil service vs party patronage has been referred to the people in a poll conducted by the American Institute of Public Opinion Watch for the results In next Sunday’s Tribune full-tim- if prolong the sary to gain their objective -- session neces- Whatever dynamite the bonus inflation forces have been preparing for the Democratic adhowever ministration may have been denatured by the form of President Roosevelt’s new tax proposal The pres! dent’s strategy in turning to corporation surpluses for revenue may have gathered Republican criticism but it has appealed to left wingers in his own party Whila Representative Pat rn Entire page copyright I 1956 South Mountain Areas Strongest in Support Of Greenback Scheme America Speaks ‘Cheap Money? Dispute Arises for Third Time In Democratic Regime Are you in favor of currency inflation? Yes27 co No-- 73 One of Every Three Persons Seeks Controlled j Expansion to Ease Farm Mortgages and Raise Prices for Better Times I if--- i Vv i By DR GEORGE GALLUP Director American Institute of Public Opinion 1UEW YORK March 21—Millions of Americans favor cur' ’ rency inflation today but preponderant millions more take their stand against it The conflict of opinion is pitched throughout the whole United States — in the conservative east as well as the restive west — with “sound money” adherents leading by a little better than 7 to 3 Those facts are indicated today at the ends of another nation-wid- e poll by the Institute of Public Opinion More than 100000 ballots were distributed to representative men and women and as their replies came back —mirroring opinion in every state and in low and high income groups— the Institute has pieced together a picture of public opinion as t exists today “Are you in favor of currency inflation?” la the voters were asked either by mail or by special reporters LoY - COLD and SILVER— vi “Yes” affirmed “No” said 73 27 ‘Nobody Wants Inflation’ —A Misconception S jUOBODY voted for a catastrophic rise in prices— such as took place in Germany in 1923 when the mark cascaded to of its former value Nobody wrote on his ballot that he wanted to wipe out private property in the way the inflated Russian ruble wiped it out following the war Yet it is a mistake for conservatives to comfort themselves with the phrase: “Nobody wants inflation” Certain very definite groups do want it They want just a little of it to be sure They want a “controlled expansion of the currency” and they have definite objectives in mind increased employment higher prices for producers and higher wages Voters from western “silver states” are sympathetic to a currency expansion that might increase the demand for silver and similar sentiment comes from mortgage-ridde- n westerners and southerners Roughly speaking for every three voters in today’s poll who declare that inflation means “madone-trillio- 4 m —INTO GREENBACKS? S t J '' f " a 6 $ tv 1 ness” “ruin” “destruction” and “dishonor” another voter it "the way to better times” '4 P This fundamental difference of view is reflected in con'7 ' gress where the house of representatives is almost evenly 4 divided on the question of discharging the inflationary Frazier-Lemk- e bill from its niche in the rules committee of the bill urge that it would liberate millions of Sponsors from farmers “economic slavery” by providing greenbacks Precious mCtal and obedient machinery Inset a man who will have much to say about new money new taxes or new for mortgage Opponents charge that once the refinancing bonds— Henry Morgenthau Jr secretary of the treasury federal government commenced printing greenbacks for the benefit of the farmers it would be impossible to stop the printh ing presses until all prices had been ballooned ' £ 'N calls 'K X INFLATION TREND SEEN DOWN IN NATION The Vote by States Polls Show Sentiment Less Today Than in Earlier Period (National Average— 27 For Against Inflation Inflation TODAY'S poll on currency inflation is the third to be conducted by the Institute of Public Opinion since 1934 The two earlier surveys are announced today for the first time so that the three polls together provide an exclusive chart ?f the trend of opinion on this question reveals that Comparison sentiment for inflation is less today than it was at the earlier periods The first poll was taken in May 1934 a few months after the administration reduced the gold value of the dollar A cross section of voters in every state was asked “Do you think' the currency should be inflated further?” The same question was repeated to a similar cross section in February 1935 Results of the two polls are submitted below with the figures for public opinion today ( FubUe Opinion Against) For Against Inflation Inflation Inflation Sehtiment Maine Leads Foes and Strongest in South West CONGRESSMEN seeking to bring the New Mexico Votes Frazier-Lemk- e bill to floor the inflationists claim include' “every Republican Almost Even congressman west of the Mississippi river” and many Demo3 Persons who would vote crats Least support for the bill comes from New England for Roosevelt for president and the east generally Today’s poll shows that voter sentiment follows virtually the same geographical boundaries —40 36 4 Rural voters— Following is today’s vote by sections: Conversely th groups least For Inflation Against Inflation in favor of inflation are: 1 Voters who want a Republican president— 10 2 Persons who have come of voting age since 1932—19 3 Women— 23 Opponents Cite Foreign Inflations WHY do voters mark their gress it finds rank and file members of the two major parties ” ticular lead the opposition to currency inflation in today's poll while diagonally across the map voters in New Mexico indicate the greatest sentiment for it With few exceptions states most favorable to currency expansions eth e agricultural states—i e those which might be expected to or comparison: benefit from sharply increased For Against farm prices Those most hosInflation Inflation tile to inflation are ordinarily 66 34 May 1934 the ones with relatively large 65 February 1935 35 financial and industrial inter73 27 March 1936 ests' “I’m living on a fixed inMaine Leads come” writes a Pennsylvania Opposition broker ‘‘Inflation would make ‘ fTHE New England and me poorer”" Pacific Coast states in “Don’t print more currency” general and Maine in par- - explains a typical industrial by American Institute For 73 sky-hig- -- All right reserved ballots as they do? Their comments attached to their ballots or confided to inworker “until you make sure stitute reporters provide an answer' our wages will go up too” The majority of those who “Don’t print more money” look longingly toward inflaadvises another “until the tion today’s poll shows bemoney we already have is bet lieve that controlled currency ter distributed” would Involve Comments come lust as expansion string of benefits moreihbhey pungently from voters who fa- in circulation a return to vor inflation Most frequentprosperity increased purchasly mentioned is the belief that ing power a reduction in debt "more money will make better charges a "painless” means of times all around” paying for the soldiersbonus Groups of voters showing Voters who oppose inflation the largest percentages in fa cite one argument more often than any other: vor of inflation rank in this “Inflation hasn’t worked order: Look at whit happened to the 1 Persons at the relief level German mark in 1923” They submit their belief that -4- 3f no inflation can be controlled 2 Persons who would vote that the best intentions are for a third party candidate— powerless once the printing 41 presses start to roll far apart Only 10 of Republican voters favor the principle while 40 of the Democrats do Votes of the two “protest” parties which are made up of those who indicate they would vote for a socialist and those who would vote for some “third party” candidate provide Interesting comparisons Third party voters indicate virtually the same division of opinion as Democrats whereas Socialists show themselves distinctly more “conservative” For Inflation Against Inflation Republicans Democrats Third Party Voters 10 tlJ Socialists 4Q 41 32 90 6ft 59 68 Debt— A Clue to Inflation Demand ANE use for greenbacks inflationists agree would be to lighten the burden of farm mortgages through refinancing at lower rates of interest If inflation were carried further and the printing presses went faster and faster eventually the mortgages themselves— along with other fixed obligations— would be wiped off With this in mind it is probably not difficult to explain today's strong inflation sentiment In states like Mississippi Louisiana Oklahoma Texas Georgia and Alabama— where census figures show the largest proportions of farm mortgages Reproduction in whole or In part is strictly forbidden except with the written consent et the copyright owners |