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I shall undertake to review something of the background,—something of the idealism, conceptions, and compromises—of some of the national legislation of the depression. I shall examine this background primarily for its significance as a possible and in judging the social, economic and legal validity of the more important of these legislative measures. For the most part, I shall have in view the so-called Inflation Bill, the National Industrial Recovery Act, and the Agricultural Adjustment Act.
I hope that my remarks shall not sound as of the utterances of political campaign speeches. I shall, therefore, do little more than raise questions respecting this legislation and leave the questions with you to answer as you will. For the most part, I shall refrain from imposing upon you any of my own views of this legislation.
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