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====Conservative Manifesto====

====Conservative Manifesto====

Being a fiscal conservative and supporter of [[free market economics]] in opposition to President Roosevelt's expansion of federal government powers, Bailey co-authored the [[Conservative Manifesto]], which consisted of the following ten points:<ref>[https://northcarolinahistory.org/encyclopedia/the-conservative-manifesto/ The Conservative Manifesto]. ''North Carolina History Project''. Retrieved February 16, 2021.</ref>

Being a fiscal conservative and supporter of [[free market economics]] in opposition to President Roosevelt's expansion of federal government powers, Bailey and Republican Arthur H. Vandenberg co-authored the [[Conservative Manifesto]], which consisted of the following ten points:<ref>[https://northcarolinahistory.org/encyclopedia/the-conservative-manifesto/ The Conservative Manifesto]. ''North Carolina History Project''. Retrieved February 16, 2021.</ref>

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# Immediate revision of taxes on capital gains and undistributed profits in order to free investment funds.

# Immediate revision of taxes on capital gains and undistributed profits in order to free investment funds.