Mr. Roosevelt Takes Over
Never perhaps since Lincoln's inauguration in 1861, never certainly since Wilson's second inauguration in 1917, 'has-a President of the-United States begun a term- of office in circumstances so momentous as confront Mr. Franklin Roosevelt to-day. In this country we are naturally concerned most with the effect of the transition from- Republican to Democrat on America's. foreign policydisarmament, debts, the Far Eastern Crisis, the League of Nations generally—but America itself is thinking far less of those problems, even of debts, than of its own troubles.., They are grave enough in all conscience, and growing graver every day. 'he. bank panic, for which there is no sufficient reason, may be allayed by the legislation which various States are 'rushing through, but panic is in the air throughout the whole Union, and unless it can be quickly allayed complete demoralization may result. It is not to be allayed by a- Presidential appeal, however impressive, ei en thOugh psychology has a good deal, to do with the whole affair. The farmers' revolt, in particular, calls for swift and effective action, and it is action which a Government facing a record budget deficit will find it far from easy to take. The new Government itself, Moreover,"is completely untried, for Mr. Roosevelt, in selecting 'his Cabinet, has passed over all the recognized Democratic leaders. But he may well have picked a capable team. What is certain is that every man of them will be facing the most exacting test of their ives.
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