Show Washington f- f J f r I h f Washington As the political campaign waxes warmer it becomes becomes becomes be be- comes painfully Mud Slinging evident that t the thel h c Ahead fight in 1936 for tor forthe forthe l' l the suffrage of the people is going to be very dirty It is going to be bitter and there Ise is no as way now apparent that such a af e s f characteristic cha can be avoided I do not believe that either Governor Governor Gov Gov- Land Landon n the Republican candidate candidate candidate can can- or President Roosevelt seeking election re-election as as a Democrat can prevent the hurling of invectives invectives tives lives that are arc going to be very close to mudslinging mud Naturally the President of the Unit United Unite States seldom seldom seldom sel sel- sel- sel dom makes a slinging mud speech and Governor Landon personally is isa isa a mild mannered man who believes 1 In discussing issues s rather raCIer than individuals individuals individuals in in- but the intentions or the tile desires of these two candidates cani cannot canin can can- in i not control the bitterness that is to tomy my mind certain to be found in inthis this campaign in a large measure As typical of the sort of thing to which I have referred is the recent speech of S Secretary cre ry Ic Ickes es who in ina a national radio broadcast became r quite tempered ill-tempered in his attack on Governor Landon Mr Ickes is not known for his composure any way and when he gets gels heated up on any f subject he is likely to be guilty of t r r remarks marks that are not becoming to toan toan an official of our government or jj any other I have not the slightest doubt that i before the campaign has proceeded much further there will be similar speeches attacking Mr Roosevelt personally and that while Governor I Landon may not approve there willbe will willbe i be unworthy charges hurled at the President Mr Ickes skated pretty close to J 1 the line in his attack on Governor Landon by various adroit phrases which were designed to create the impre impression sion that the Rep Republican candidate candidate candidate can can- was either ignorant or dis dis- J honest I I Ido do not know Governor Landon personally but I can offer this thought No mau mai is going to toI tobe I be nominated by any political party in fn a national convention nominated by acclamation unless his record is pretty clear For Mr Ickes to say therefore in effect that Governor Governor Governor Gov Gov- Landon had sold out to Wall WallStreet WallStreet Street was not the sort of campaign campaign campaign cam cam- discussion likely to produce confidence among all the people in their government It is comparable campara- campara ble in my opinion to to toa a charge that the President of the United States j who advertises himself continually as a friend of the common man was guilty of increasing his own personal per per- personal personal per per- fortune through presidential acts and acts and every everyone one knows this is not true But to get back to the theme song of the Ickes' Ickes speech it seems tr tf me that the tragedy of his radio pronouncement lies in the Uie fact 7 1 throughout his discussion he was preaching class hatred Every on one knows of course attacks on Wall WallStreet WallStreet WallStreet Street are very common commo in any political campaign The demagogues demagogues demagogues dema dema- use it every hour of ev every everyday ry day everywhere they can find any anyone anyone one to listen to them It is ridiculous ridiculous lous Ious but it has happened for or a good many years So when Mr Ickes made the charge that Governor Landon was either unwittingly or k knowingly leading a rich mans man's fight against President Roosevelt he was descending to a rather low level of campaigning t I 1 have seen indications indications' ox of a reaction reaction reaction re re- action against the Ickes' Ickes speech in another way John May Cause Hamilton the Re- Re Showdown publican national chairman on his recent organization tour of the western western west- west ern states propounded the inquiry that seeks to identify the economic econom rS ic is royalists about which President Roosevelt Roosevell spoke several weeks ago If Tt the Roosevelt campaigners continue continue con con- this class hatred propaganda I rather suspect from rom what Mr Hamilton said in his speeches there will be a perfect barrage rage of demands demands de- de I mands wands to know the names of these r economic royalists It may not I. I seem eem important indeed it seems I f like it probably is inconsequential but if the Republicans let down a ai at t- t ba barrage age on the President of the United States he is likely to be put in a bad corner Without attempting to forecast what the Republican opposition is likely to say I can recall as an observer close to the wheels of government government government gov gov- during the Roosevelt Roosevell regime regime re- re gime that Mr Roosevelt frequently was a guest on the Astor yacht and that one of his chief advisors for L' L many months was the Bernard M M. Baruch It seems also that a very rich man l lenry enry L L. Doherty was in charge of I the wide nation-wide dance program held on the Presidents President's birthday and Mr Doherty be it said is head of one of ot the great utility chains These are just samples It may be good politics for the President to encourage these attacks without approving them but those of us who knew the late Louis McHenry Howe are arc convinced that he never would have ve agreed to that sort of attack had he been alive and serving as the Presidents President's closest political advisor advisor advisor ad ad- visor as he did for a quarter of a century There is a situation In the federal federal federal fed fed- eral government that threatens to tobe tobe tobe be quite nasty misty I Probe refer to the row Men G that has nas developed developed developed devel devel- between the Department of Justice bureau of investigation the men G-men and the Treasury's secret service corps Itis It Itis Itis is all very much under cover quite I secret but the row has come to I Ithe the surface sufficiently to result in ina a demotion of two time long-time members members members mem mem- bers of the secret service J J. Edgar Hoover has been well press press as chief of the G Joseph E. E Murphy has had almost no advertising as assistant chief of the Treasury secret service in which he has served for tor more than thana a quarter of a century Mr Murphy Murphy Murphy Mur Mur- phy and one of his subordinates have been reduced in rank their record stained for tor life The two departments have kept the facts well covered up It seems that something was going on among the men G-men that the Treasury secret service thought the they ought to know about They conducted their own inquiry their own investigation into the other staff staIT of ot investigators That Thatis is as much as has been made public except Secretary announcement announcement announcement an an- of the demotion order I have known each of these men equally twenty years Each is entitled entitled en en- titled to the utmost respect But each operates along an entirely different different dif di- dif dif- ferent line line Hoover Hoover r with some willingness willingness willingness will will- for tor publicity Murphy with an absolute policy of never letting his name get into the papers Itis It Itis Itis is unfortunate th that t Joe 1 Murphy urphy was the goat The The board board of governors of the Federal Reserve system took an action action action ac ac- tion recently that Action probably is quite Mystifies mystifying ying to the average person They ordered all of the banks of the country which are members of the Federal Reserve system to keep a deposit reserve with the Federal Reserve banks 15 per cent ent greater reater than ever has been required before With the technical phases of reserve reserve reserve re re- re- re serve requirements and the mechanical mechanical mechanical me me- operation of this particular order I think we need not be very much concerned But with the principle principle principle prin prin- ciple upon which this action is taken taken taken tak tak- en I 1 think every everyone one with a bank account however small ought to be vitally interested They ought ough to tobe tobe tobe be interested for the very vey simple reason that hat this action illustrates better than any words I can write how far tar the centralization of control of the banking structure has bas gone This action was taken under the National Banking act of 1935 a statute that has been frequently criticised as a political cal banking act In the instance I have just reported reported reported re re- re- re ported the change in the reserve requirements probably will have no serious reaction on us as als It probably will not hurt the banks because few tew banks in the country have had calls for loans in any quantity since business is is' at such a low level But the point is that under this law the Federal Reserve board of ot governors can alter banking conditions condition over night It can issue new nev rules and regulations regulations regulations regula regula- that are wholly impossible of understanding by the average individual individual individual indi indi- vidual but which are almost riotous riotous riotous riot riot- ous in their effect upon the management management management manage manage- ment of ot individual banks throughout through through- out the country To sta state te this proposition in another er way may I describe it in the terms cf a private business enter enter- prise If It a storekeeper in a small smalltown smalltown smalltown town were subjected to regulation from Washington and the regulatory power in the federal government had such discretionary authority as I the Fed Federal ral Reserve board of governors governors gov gov- could that storekeeper ever gOV 1 feel teel that he was managing his hs own business I think n not t. t Then in the j case of the Federal Reserve board of governors it must be added that the president of the board is Marriner Marri- Marri ner S. S Eccles who is known far tar and wide for tor his radical about banking It can be further said that Mr has the ear car of President Roosevelt This has been criticised many times of course where opponents opponents opponents of the Roosevelt banking policies policies poli poli- I cies des have contended that the banks can be utilized in any way the administration administration administration ad ad- I ministration desires to use them As Asan Asan Asan an illustration of this the federal government has been borrowing bil bli- lions Most banks are chock full of government securities While I Ido Ido Ido do not say it has happened yet because because be be- be 1 I cause I do not believe it has happened happened happened hap hap- yet nevertheless there is isa isa isa a possibility that government borrowings borrowings borrowings bor bor- can be forced on the banks under such mch conditions That is the course of ac action ion that has ruined the currency in half a dozen European nations e Western Newspaper l Union |