Next week, when the ballots are counted on election evening, the political campaign of 1938 will be embalmed in history. This week it is on its way to the undertaker's. Shrewd politicians have already sized up its career, and are drawing lessons from it for the future.

The big political debate of 1938, like the debates of 1934 and 1936, has consisted 90% of talking at cross purposes: the Ins defying anyone to find fault with the New Deal's broad objective, to improve the lot of mankind. The Outs denouncing the New Deal's...

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