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January 5, 1939 Personal Marriner I have read the book "An Economic Program for American Democracy", and slept over the proposal that was suggested to you. Unless you are committed, it seems to me that it would be better to arrange for its distribution in some way other than under your sponsorship. Here are some of the dangers, as I see theins No matter what your accompanying letter says, unsympathetic members of Congress will represent you as endorsing, by implication, some highly controversial conclusions of the authors which are not directly included in the idea of compensatory government spending. For example, the impotence of the democratic party, with its factions "bigoted and selfseeking in the extreme" (Foreword, P. VIII); full return to undistributed earnings tax with more drastic^rates (P. 54); implied threat that government will take over the banks if they shy &way from purchase of government bonds (P. 73); that government regulate prices of "industries where free competition.does not prevail" (P. 75^76-78); that the government take over the railroads (P. 62, P. 77)J that "any modification * * * * bf either the National Labor Relation* Act or the national Labor Relations Board would be * * * ~* a serious setback for the orderly processes of democratic government" (P. 81); that minimum wages and maximum hours be established for farm labor (P. 87). < 8 You may favor every one of these, but.you are taking in too much territory when you attempt to instruct Congress on them* U This study will not convince government spending• Their minds opportunity to say that all these and that what you have in mind is far beyond the point to which the its declared policy. any of the opponents of compensatory are set. It will simply give them the things are involved in your program, an extension of government controls administration has heretofore gone in Draft letter to be sent to Senators and Congressmen enclosing "An Economic Program for American Democracy." Dear __ : I hope you will not think me presumptious in taking the liberty of sending to you herewith a little book entitled "An Economic Program for American Democracy" written by seven Harvard and Tufts economists. I realize that there are many thoughtful books which deal with our current economic problems. And I do not by any means agree with everything which these Harvard and Tufts economists say in their book; with something they say I definitely disagree. But I do think that it is difficult to find in such a succinct form a more penetrating and stimulating analysis of the nation1 s «w»«B*e problems. I am sure you will find some of the lines of argument on pp. 15-74 worthy of serious consideration. Yours sincerely,