AMERICA'S TUG-OF-WAR
A RUINOUS CONFLICT I (By Air Mail—From Our Own Correspondent) LONDON. 16th December. Communities on this side of the Atlantic are, whether they realise it or not. intimately concerned in a gigan'.ic issue now pending in U.S.A. Presideu? Roosevelt, who has won popular idolatry as the man who overcame he economic blizzard and champions the people against big business monopoly, is confronted by omens of another and disastrous slump. This is due to a novel phenomenon in social politics-—a i strike by capital against the executive. The great trust corporations are deliberately withholding expenditure activities, representing industrially fructifying disbursements totalling perhaps £500.000.00:) in an endeavour to defeat the Presicient’s New Deal. The President is trying to negotiate a truce, but may be unable to do so. He may have i to put the State’s tax-aided enterprise | in open conflict with private monopoly. It is a ruinous conflict from both points j of view, and might, if it goes to ex- j tremes. have remarkable reactions , America may be staging a battle royal between capitalism and nationalisation
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Nelson Evening Mail, Volume LXXI, 13 January 1938, Page 4
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178AMERICA'S TUG-OF-WAR Nelson Evening Mail, Volume LXXI, 13 January 1938, Page 4
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