Show I ill ill- SEEN SEEN and HEARD around tho the National Capital al alBy By Dy CARTER FIELD FIELD sa Washington Washington ton Passing of or J r 10 1 o 0 Connor out of or the of or comp comp- comptroller comptroller comptroller of or the currency Is actually offar or of offar far greater significance than m miry illY other changes chan e which tense hue e store For or It means more than the lie mere desire of or Secretary or of the Treasury Tre to glom dom mate completely every ery official In II the department deportment and lC If lf that word ord cm cm n be used without out offense me of or course such dl as were formerly formerly-es formerly en under Independent McAdoo Independent biron b tron les Such as the bureau of or Inter nab revenue and the office of or comp comptroller comptroller of or the currency And for that matter even esen e en the supposedly Independent In Independent Independent dependent federal reserve reser board bO ld It Is with respect to the latter t O that the change I Is significant Under the tumA th plan of or President noose Roose Roosevelt velt and Secretary the resen e board exercising such ex control over banks and the comptrollers comptroller office which ss ha has q the function of or keeping the bani s examined and being sure that they are sound are arc Integral pacts ts of or the die treasury and must be controlled oh ab absolutely according to treasury pol polIcy polIcy polIcy Icy Not that there has been In the any very vcr ver wide r Ide dh divergence but when there was seas unity of policy polley It was as brought about either cither by thinking thinking-at at the White bite House the tre sury the th resen reserve c board and th the comptroller a 11 or nines office or b moral suasion There was as ne never neer er any In of or coercion As for example when President Hoover earl In his administration Induced the reserve board to bear down hard on speculation but notto not notto notto to raise the rediscount rates And liter on after atter the secondary ph phase SEe of or the depression how v VCr ver a 8 policy polley of or encouraging struggling gling banks by not being too drastic about the national bank examiners discoveries tint that many banks were not re-illy re sound And just before that with regard to boosting of or for foreign foreign eI eign government bonds to domestic banks Which last was as one of or the sons reasons of or course that 10 so many banks were very sery hard hit bit while the after trouble began was the thereal thereal thereal real reason for the debacle ending In the tir banking holiday of or March larch 1933 Go Easy on Banks 0 The new policy of or direct control or of both reserve board and antl comptrollers comptroller's comp comptroller's comptroller's office from the WhiteHouse White II louse ou ce vl via Th the secretary of or this treasury Is the more interesting because of or the recent speech or of Jesse II H Jones of or the Reconstruction tion Finance corporation to the bankers convention lie first urged the bankers to bemore be bemore bemore more liberal with loans and then hinted that e examinations of ot sound banks once a 3 ear would be bo I In short If the banks do bat ha t the administration wants ants the ad administration will see to It that they are treated liberally It Is i 1 i sm point In comparison with the broad Idea but the ides he of or less frequent C examinations appeals strongly to the bankers on a side which might not at nt first occur to the erae a outsider I by the na n bank banh examiners are pretty for the Individual bank banI The banks pay payout out of or their own the salaries of or the ex ee e miners during the period they spend at their banks And expert accountants are not poorly paid l men by any means So a bank banI which Is not doln doing right by the t bew Deal In the opinIon open Ion of the higher ups Is not only to tobe tobe tobe be scrutinized severely It may be Inferred but subjected to heavier ler fees fecs for tor e examination than it if It ere putting Its shoulder to the heel of oC reeo recover er as seen by the admin administration adminIstration Which Is one of or the r reasons why when hen the bankers arrived etI back home after the convention some of oC them lIat hadt I that worried look What Japan Fears Japan Japans s demand for naval parity Ith the United States and antl Great Grent BrItain at the London naval con conference conference ference Is really aimed according to some very astute a tute diplomats here not not at parity at all but at naval weapon Japan fears most most most- the airplane carrier It requires very little study of the map of the world to figure out Jal Japan an Is thinking about She SheI certainly Is I not worried about hav havIng having bayIng Ing a few more battleships to brine brin the Japanese quota up to SS asking ashington I ton treat treaty standards or equality Britain and America Actually she Is la not worried very much about the new type of or cruisers or nines She has always nl Insisted that th the submarine Is a defensive not an ot of e naval nasal weapon The I ho point Is open to argument of course 1 the he average erae British royal expert be becomes be- be becomes comes comee enraged enra etI at the suggestion ro re recalling calling caJUn the fact that Germany used iI the submarine not to defend her ber i which coasts which the Japanese e and french have always ays Insisted Is Ie the type of ot for tor which 0 the un boat Is designed designed hut but In an attempt to starve stan e Britain Into sub sub- submission submission mission Certainly the British naval ex experts experts experts admit the battleships fillet and cruisers are offensive In type trite BritA Brit A sins ains attempt to starve starre Germany antI and to cut oft off suit supplies sine sery cry much of an offensive e The use or of German submarines to smuggle supplies In Inas was as defensive they admit nd ad admit mit but the attempt to blockade de was vas offensive e But nut Japan s argument ar about submarines sub submarines submarines marines Is just so man many word word- bo boone r t-o t i one at an nn any time has expected to restrict rE rE- rEstrIct restrict strIct Japan In this direction AntI And AntIe Andes es e een en the tho British gave gas a ae e up lip tho the attempt at attempt tempt to outlaw w the submarine durIng slur dur durIng Ing the Washington arms confer conference conference conference ence But Dut Japan would like very much to prevent present the other nasal nl po e passers from building so many man airplane car carriers This type of ship able to come up lip within striking distance of any coast and launch a swarm arm or of bombers and fighting planes to pro protect them Is the menace that wor worries I ties rles her most For the present school of ot thought about airplanes airplane Is that the art of defense against airplane air airplane airplane plane attack Is far behind the artof art artof or of aerial attack attick Expects Compromise So Japan has demanded some some- something something something thing at nt the I ondon conference which no one Is willing to give gh e herand her and ss which she really does docs not c poet to get in the hope that she may actually get what she really r an ts as a compromise would save cv es cry ery ones one s face faco and remove at least part of or a great fear from the minds of or the J ad murals It Is characteristic Japanese dl old hands at nt the game Jame here point out It was as recalled 11 b bone one ambassador who was as a junior In his embassy y at the time of or the theSS SS ashington arms conference how Japan maneuvered the United States at that time Th There r had been tremendous protests by pen pon at the California land law In s the school restrictions and other outrages out outrages rages Japan had bad the tho United States In an Indefensible diplomatic position This government could not say to Japin that these things stop because this govern government government ment had no right to force a s hand band On the other hand bantI the United States could not tell Japan that that for Japan would then presumably presumably presumably ably have the right to negotiate ill dl with ith California Eventually 1 everything was as forgot forgotten forgotten forgotten ten But nut most people do not know v and nothing was as ever publIshed about what shat bat our State department officially of forgot That was wa the American protest against Japanese nese occupation of the tho upper halt half or of Island Japan thought there were sere tremendous oil reserves there so she regarded that tion as vItal Our protest worried her considerably And so she put our State department through Call fornin on the spot And she had her ber own way with Case of Sinclair President Roosevelt seems to have done a right about face with re respect to Upton Sinclair At any rate there are strong trong Indications that the administration was as private privately ate ate- ly hoping that the radical so over overwhelmingly nominated on the Dem Democratic Democratic ticket for governor of or Call fornia would be defeated The lines on which this state state- statement state state-ment meat ment Is made are arc admittedly rather thin But one of or the more conservative workers porkers In the national corn com said In the presence of oC o the writer that It would be necessary necessary- necessary after after the election to election to entirely re rebuild rebuild rebuild build the Democratic organization In California After Sinclair s defeat de defeat defeat feat he meant SS Which resulted In the tho question being put to him flatly as to what he heard about Sinclair s chances Although he obviously became a greet deal den I more cautious at once he admitted that so 0 many Demo leaders had deserted Sinclair that he did not see how ho could ss In in boss Isow that would really ha have base 0 been enough to show how the wind Ind was binning For no one working for tor Jim I arley ever admits there Is a chance of or their candidates losing not anywhere not even een In Vermont Yermont But this Is not all the e Other high figures In the Demo Demo- Democratic Democratic cratic erotic party have complained In the thelast thelast thelast last few days that Sinclair In speeches made subsequent to the California state convention has not stood on the platform framed by that convention Turn Big Bit Guns Loo Loose e As a result certain bigwigs bl Inthe In Inthe inthe the Democratic national oratorical art were not found specking In California before election even election some who oho would have bave liked to goI go goI o oI I or Instance Relief nellet Administrator Harry Hopkins Hopkins threw his hat In the air just after Sinclair was nominated But nut o e harshly to him about that just recently Anyway An way be did not go did Public Works Admin AdminIstrator AdminIstrator Ickes though he can find plenty of or time to denounce David DavidA A Reed need and antI boost Joe In Pennsylvania And that Is I not jut Ju because Penns Pennsylvania I anla Is closer either All of which Is rather perplexIng Here we wo have hase the administration going out of ot Its way ay to smooth the pith of or Hiram Johnson In Califor let 1 et the administration does not seem to have the same gratitude gratitude tude for tor Bronson Cutting In New Ne Mexico It protons prefers young Bob nob LaFollette La In Wisconsin W to the Democratic Demo trade candidate But nut that Is not Dot Dotso so strange e for this candidate one of or the Stop Mop Roosevelt men into at Chicago w 0 ht W SU lU Sn S Ice |