BALANCED ECONOMY

Evening Star, Issue 22807, 16 November 1937, Page 9

BALANCED ECONOMY

ROOSEVELT S DETERMINATION A MESSAGE TO CONGRESS , Press Association—By Telegraph—Copyright WASHINGTON, November 15. (Received November 16, at 10 a.m.) President Roosevelt, in a message to Congress, issued a warning that if private capital does not take up the burden of recovery from business recession the Government will do so. He gave an assurance that the nation’s situation was not similar to that of the 1929 collapse, but it must not be disregarded. President Roosevelt advocated some tax revision, but gave a warning against creating new tax injustices, and emphasised the importance of steps in the direction of farm crop control and reorganisation, and national land conservation. The President warned citizens that they must give the- Government cordial and confident co-operation, arid cautioned Congress against new expenditures for which revenue was not provided by taxation. - The President reiterated that _he would not swerve frpm his determination to carry on a wide social programme. He pointed to higher standards of living and a more just distribution of the gains of civilisation. The most significant feature of the message was the continuous reiteration that he had no intention of abandoning the New Deal. “ This warning rests on the solid foundation that all should have enough, and that the Government cannot let nature take its course without regard to consequences,” said the President. “The Government must take up the slack if private enterprise does not respond. We shall provide flexible machinery which will enable industries throughout the country to adjust themselves progressively to better labour conditins. Much of our social programme is already in operation, but its continued and complete success depends on a wider distribution _of an immensely enlarged national income. Deflation and inflation are equal enemies of a balanced economy. I hope and believe that the Supremo Court null not again deny the protection to the farmer which it now accords to others. I believe the country as, a whole recognises the need of seeking a more uniform and adequate standard of living and purchasing power everywhere if every part is to live happily with every other part.”