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In 1934 the New Deal's economic opponents, including Morgan; R. R. M. Carpenter, vice president of Du Pont; Alfred Sloan and William Knudsen of General Motors; J. Howard Pew of Sun Oil; and Sewell Avery of Montgomery Ward combined to form and finance the American Liberty League. Its onehundred- man executive committee comprised seventy presidents or directors of leading corporations or investment firms. Many of Roosevelt's political enemies in the Democratic Party, including John J. Raskob, Jouett Shouse, and Al Smith, also joined. The Liberty League was one of the New Deal's most vitriolic opponents, challenging each economic innovation from the standpoint of the orthodox. To the Liberty League, the NRA smacked of Italian corporatism, and they predicted the New Deal would turn fascistic. They argued equally adamantly that the public works programs and Social Security were communistic. Most important, however, they objected to...
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This section contains 202 words (approx. 1 page at 300 words per page) |
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