Washington, Sept. 17.
One of President Roosevelt's. chief troubles at the moment is that the business community is hostile and apprehensive. Politically the disaffection of business men may not be important for their votes could do nothing to turn back the Roosevelt tide. But in the long run their position is of great importance for without business ce-operation and support the New Deal will still lag behind the hopes of its sponsors.
It is easy to say that the gloomy! view of the future taken by business is directly related to the elections in November; to point to the trumpetings of the Republican elephant recovering at last from the knock-out kick, delivered by the Democratic Donkey at the 1932 elections as the cause. But in the first place this is highly complimentary to the power of the perty's propaganda and in the second place business would not be influenced by pessimistic political propaganda unless there existed, for some other cause, a predisposition to believe it.
Professor Moley recently suggested that there were four reasons for the "soured" condition of the business world. First, they feared that some members of' the administration are definitely opposed to profits, intend to wipe out entirely and reconstruct America on the basis of a pro-filles society. Secondly, they did not know what would happen to URA. Thirdly, the mounting cost of relief raised the spectre of increased taxes and, fourthly, they could get no money from the banks. Business fears, Professor Moley insisted, were exagerated, for the Administration is 8 far from socialism or communism 3 any group ever assembled in national government.
Text read from the printed page and cleaned; old type leaves the occasional error.