Jimmy's Own View

Last week Jimmy Carter gave his own explanation of his troubles with U.S. businessmen. The occasion: a meeting with a group of European businessmen and TIME editors, correspondents and executives in the Rooseyelt Room of the White House. Carter was asked, "Why do you think the American business community doesn 't have more confidence in you and your policies ?'' Excerpts of his reply:

I think we have addressed some controversial issues, for one thing, that create uncertainty about the future--to evolve a new energy policy without knowing what the outcome will be. We also are addressing some of the basic questions concerning employment with our welfare-reform proposal. We are now coming up with a tax measure...

Some other matters are disturbing to the business community. I think one of the major reasons for perhaps a lowering in the stock market values has been the increase of fluidity of the money supply and the increase in interest rates put on by the Federal Reserve Board. But I think that once we get through this session with an energy package that is adequate and once the tax-reform proposals are revealed, there will be restoration of some business confidence in myself.

I think it is accurate to say that between me and President Ford, only about 5% of the business leaders of the nation supported me. So it is not a derogation of support that previously existed. It is a struggle on my part to increase my support within the business community. But I am their President, and they want me to succeed. I feel very close to them.

As a businessman myself--that is my profession--I understand the special problems of the business community. And in the tax-reform package we hope to stimulate our economy to some degree, provide easier accumulation of capital for increased investment. And I think that these two basic premises of the tax-reform package, combined with success in the energy field, will be a great step toward restoring, or at least establishing, increased confidence.

I also will begin a series of meetings with the business leaders so they can get to know me better and understand what our long-range objectives might be. We have a problem with the steel industry in our country. I had a very productive meeting in this room last week with labor, management, economists and Congressmen who are interested in the steel industry in our nation. The first statement that was made was by the steel executives: "We do not want quotas; we do not want trade barriers to prevent imports of steel. What we want is an enforcement of the American antidumping laws. What we want is predictability within the economy, within Government programs, in environmental protection measures and so forth. We just can't deal with an uncertainty."

I think there will be a repairing of the present problems among the business leaders as relates to my Administration.

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