Show This Week In Washington D. D C. C Regardless of oC who is elected e President President President Pre Pre- on Nov NOY 3 3 and whether the Hou House e of Representatives in fn the new Congress hns a Republican or a 3 a Democratic majority some highly Import ant wll wll hl have to to- to tob b tiB bD made by the new Administration nf and aad Congress at the very beginning of things thing Several of the most dis widely cussed laws lawns exacted by he lie and IntI 1 th Congresses will expire by limitation liml- liml tation early in 1937 The new Congress will ivill take Lake office at noon on January 3rd President Roosevelt's term whether he is elected re-elected or not will not expire until noon on J January There will be a period o of 17 days in which even if iC Mr 11 Landon should shoud be elected President dent with a Republican House of R Representatives sent tives Congress will be bl In session ses ses- slon sion but Mr l Roosevelt will till still be J. J r O Must Act Either fa id l' l that per period od or In the theten t. t ten tea t days following the tho inauguration the will thaw o to decide dedde w whether or not it will withdraw the authority which the C Congress granted d to the President in May l 1933 1 to devalue the dollar for that authority j expires by on January next Under this authority authority au QU- the President by proclamation tion on reduces the gold ce content of VIe tio dollar by a shade over ovel 40 percent percent percent per per- cent und und-r the liw he hc could have re reduced jit it it as much as one me i Since early 1933 therefore all nIl of i the Federal financial lin I operations and naturally all banking banking bank bank- ing and ad business transaction n and calculation have ha born been bo n in terms of a lower value dollar Whatever Congress might do 1 in fh extending or withdrawing the authority of of the President to fl lower wor the the- the gold value of the th-e. dollar still farther or to increase it would in It elf It-elf have effect Tho doll dollars dol l lars rs themselves issued Issued under Pra-i- Pra d would till still be he dollars and obligations Incurred in terms of such dollars would woul call for payment In whatever values might be called dollars There Thre is 0 tt likelihood if U the Republicans Republicans should be victorious In November November No No- vember omber tiN that t the rhea new Congress we would uld vote vate to promptly to withdraw th this s and other powers which Its Us predecessor predecessor- to the Executive Executive Executive tive as ns a matter of party principle without necessarily e in any way nullifying Tying y Q of the acts which the President T hl has performed under Rhein Silver CI er and ami Paper Money In nima m Act which au authorized the 1110 devaluation n a of the tile gold dollar the 1 the r-the the Thomas T mas Amendment to the Agricultural ral Adjustment the Act Act the was also authorized to re le resume reume sume ume the free and unlimited d coinage coin coln- n ng age e of Silver dollars and to fix the felat v value of such silver coinage thoi tho g- g gild ld dollar in hi his sole Continued on page pasc four tour l o. o this Week In Washington 0 D. C. C 0 Continued from page one discretion The President was also authorized million milon million mil mil- to Issue up to three thousand lion on doll dollars rs of paper money based on government credit without any metallic reserve behind It He Ho has not nOl etl that power of curI currency currency cur cur- I rency inflation n and has not done nearly as 39 much to rehabilitate silver I as the ardent wished These monetary matters matt are arc inmany in inmany inmany controversial many aspects aspect 1 highly stuff and the new Congress might easily get into a jam over the question question question ques ques- tion of whether it should proceed to fix the value of the coinage coin or continue to leave it to the President President it it-In it in dent or do nothing about which case the prese present nt Pre Presidential authority over o th these se things would expire by br time limitation and Congress Congress Con Con- situation situation situation situa situa- gress gres could leave the mon money tion as is for later consideration and turn to other matters Tux Tit Revision Due There are several al excise taxes now on 01 the they statute books yielding about a year veal in revenue revenue revenue reve reve- nue which run only to June 30 30 i 1937 What will the new Congress do about renewing them or replacing ing Dg them with some other kind of taxes to produce new revenue of the tax question might ope to a general overhauling of the whole sy system em o of t Fed r l' l taxation And here lies an opportunity y for leadership leader leader- leadership ship to the on one one- willing and able tol to I seize it it in the necessity ity for planning planning planning plan plan- ning and putting into effect a logical logical logi logi- cal stEm of Federal taxation Another important law which will vill expire b by limitation early I next Administration is the Trade Agreements Agreements Agree Agree- e- e ments Act giving authority to 10 the President to enter into reciprocal r trade agreements with wilh nations nations nations na na- na- na and to raise or lower lower tariff duties b by as much as os 50 percent This power automatically ends on J June ne 12 12 1937 Whether the alternative alt will be beto beto beto to throw the whole tariff question open for long drawn out debates and logrolling in jp Congress remains to be seen |