22 JUNE 1962, Page 7

All Over Again A week later I was in the

White House when a motorcade wailed up with the President and some of the damned Jeffersonians who had accom- panied him that day to and from New Haven. There, through the medium of a speech at Yale, he had invited business to snap out of its cliché- ridden ways of thought and explained to it that there happened to be no divinely ordained inevit- ability of enmity between business and govern- ment. I had heard bits of the speech in a taxi on the way down from the station and they sounded good to me. But scarcely were the exhortations and reassurances out of the President's vigorous mouth when the market began to take another tumble. How's this? I wondered. Next day in New York I was talking with a wise old man.• `Boy,' he said, 'whatever that poor guy says at the moment, it's certain to be wrong. Look, if he came to businessmen right now with incontro- vertible proof that he was empowered to inaugu- rate the earthly paradise tomorrow, they'd start digging. That's how they feel about him. It's FDR all over again. The poor fools don't know what's good for them.'