DEMOCRATS: Economy Week

Much as Republicans like to talk about the Relief billions that finance the “New Deal Party,” the actual Democratic Party may well have to nickel along this year. Last week, as Campaign Chieftain Ed Flynn busied himself lining up Midwest Democratic leaders and drafting Speaker William Brockman Bankhead to run the Southern sector of the campaign (headquarters in Birmingham), Democrats learned that their party’s war chest is down to a minuscule $70,000. Candidate Henry Wallace planned to save money by touring rural districts in an Oldsmobile borrowed from his secretary, Jim Le Cron. Meantime Candidate Franklin Roosevelt took the opportunity to do some campaigning that was both economical and effective.

Signing the Investment Company Act and Investment Advisers Act which will put investment trusts and counselors under SEC supervision, Candidate Roosevelt called the bill to witness “this Administration’s vigorous program . . . to protect the investor.” Sure that “we have come a long way from the bleak days of 1929.” the President voiced a pious hope: “It is a source of satisfaction that businessmen have at last come to recognize that it is this Administration’s purpose to aid the honest businessman. . . .”

Another free platform for Campaigner Roosevelt was provided by The Federationist, house organ of A. F. of L. It published a signed article by Candidate Willkie saying that: “Every man and woman in America must be protected in his or her constitutional right of free choice in joining or not joining a union,” and what seemed like a reply by Franklin Roosevelt: “. . . We shall hold steadfastly to every advance gained and not permit present safeguards to be whittled away by yielding to the specious arguments of those whose lip service to labor is loud and eloquent before election, but whose ears are deaf to all appeals to justice the rest of the time.”