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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,