* ' * * * THE BUSINESS PosrrioN.
President Hoover's position has not been made easier by the fact that the business recovery has not developed to vindi- cate the official predictions. Last week's sharp fall in stock prices came as an unfortunate commentary on the most recent of his characteristically optimistic utterances. That the speech and the stock decline came together may have been purely a coincidence. None the less additional ammunition was provided for critics of the Administration. Democratic leaders, and notably Senator Robinson of Arkansas, who is re-entering the political arena after his sojourn in London, hastened to the attack. The statistics, and reports issued from time to time since last November by the Administration have proved so remote from the facts that, according to Senator Robinson, the country has lost faith in official utter- ances, and this lack 'of confidence has itself aggravated the business depression and unemployment. It is true, of course, that the Administration's optimism has proved at least premature, but it is equally true that the gloom now being disseminated, by Democratic leaders is in danger of being overdone. Nevertheless, unless there is a marked improvement visible to all in the meantime, the events of the last six months certainly will not help President Hoover and his supporters in the autumn elections. It is noteworthy that the President is considering the advisability of testing his strength in the country by making a speaking tour during which he would reply to adverse criticisms of his Administration.
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