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Terming the New Deal an artificial stimulation to business which had failed to restore prosperity, Bruce Bliven critically dissected it before the Liberal Club last night. He also stated that Roosevelt's re-election in 1936 was nearly inevitable.
Bliven denounced the NRA as "the most painful and conspicuous failure of the administration," enabling manufacturers to boom prices out of properties to wages, thus weakening the nation's buying power and necessitating a drop in prices.
He accused the PWA of lowering the purchasing power of the nation and being too slow for effective relief. Nor was he more optimistic concerning the new public works program. "At best" he said. "It is a dubious experiment. Many cities cannot and are not willing to carry the entire burden of the new program, and the $12.50 weekly alloted to each family is little better than a dole."
Roosevelt has neither socialistic or fascist tendencies, he contributed but is trying to establish a planned economic system to prevent future disaster. This is the only hope left to capitalism.
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