A SCEPTICAL MAN

Waipukurau Press, Volume XXVIII, Issue 200, 19 August 1933, Page 5

A SCEPTICAL MAN

U.S. BIRTHRIGHT SOLD MESS COMMUNIST POTTAGE NEW YORK, July 20. Outwardly business is making a great recovery, but this week-end brought disquieting discussion of the wholesale manner in which the Government is heading into control of business, and how it will develop. Alfred E. Smith, former Governor of New York, and a candidate for the Presidency, is very critical of President Roosevelt’s National Industrial Recovery Act and its grand'ose departure from accepted business methods. Former Governor Smith says: “If we could give these planners a corner of Alaska, or a section of the Bad Land., for the’r experiment, it wouldn t be so serious. Then if the laboratory blew un, the whole nation would net suffer ’’ Mr Smith then charge President Roosevelt with having sold the Ameri can birthright for a mess of Communistic pottage. Around Washington the gossip is that President Roosevelt wishes the London Conference to go into recess for two or three months to give him time to consolidate better commodity prices and business recovery. Tn October the leading nations could reconvene the conference and stabilise currency, which finally is the only method obviating tariff wars. The expectation is then that sterling would be pegged around four dollars. Chicago and Winnipeg markets absorbed heavy profit-taking, then later dealings turned upward, closing at new high levels.

. Wall Street closed with share averages fractionally below yesterday’s. *Dun and Bradstreets’ Agency reports that United States industry continues to operate at the highest level in two years, adding: “There is no discernible trace of re-actionary tendencies, even after fifteen weeks of uninterrupted expansion.”