Show TilE THE DAILY DAlLY VAS WASHINGTON Round Merry Trade Mark MarkBy MarkBy By DREW PEARSON and ami ROBERT ALLEN WASHINGTON WASHINGTON WASHINGTON-Marriner Marriner S. S Eccles special assistant to Secretary is a good bet as next governor of the federal reserve board The slender haired dark-haired Utahn dominant banker in his state at the age of 39 is No 1 man man on on the presidents president's list of possible successors successors successors sors to recently resigned Governor Eugene R. R Black Eccles is a New Deal Republican Until 1030 1930 he was a typical orthodox business man managing and extending with much skill extensive extensive ex ex- interests inherited from a pioneer father But with the depression spreading its ls blighting blighting blight blight- ing lag hand in 1930 Eccles heard a liberal economist economist mist speak The latter's warning struck d deep ep Eccles began reading extensively in economics and history He came to the conclusion that th the government t had to engage in a great spend great spending spend spend- ing program m to revive industry and batter down unemployment He also came to th the view vie that an extensive system of social insurance was was vital These views unique unique for a banker first lanker first came to public attention early in 1932 when Senator LaFollette invited business men to tell teIl tella teIla a senate committee what they thought should be done to overcome the depression Eccles' Eccles plans stood out like a sore thumb It was on this trip east cast that the young Utahn met Professor Ray Moley Professor Rex Tugwell and other potent New Deal figures For a time Eccles was under consideration as undersecretary of of the treasury but his unfamiliarity with government finance weighed against him It now appears he is destined for a more important post Nearer the League The United States has hast come a long way from the isolationist days when the revolt against Woodrow Wilson slammed the door shut in the face of the league feague of nations Latest gesture toward Geneva is the state departments department's secret decision to appoint Hugh R. R Wilson as high commissioner to the league of or nations This is a move engineered in part by the career men in part by league supporters in inthe inthe inthe the state department They have felt for sometime sometime some sometime time that the United States needed semiofficial semiofficial cial representation at Geneva To date this representation has been partly by br Wilson Vilson who was American minister to Switzerland but lived at Berne partly by Prentiss Gilbert general consul-general in Geneva Between these two however there was open bitter rivalry Wilson Tilson is suave punctilious punctilious tillous able a son of or Chicago's famous shirt- shirt maker has been in diplomacy cy almost ever since he went to school in Paris Gilbert is genial rought ready son of an army officer once managed the Rochester N. N Y fair is not a career diplomat Wilson has now won the battle Gilbert will leave Geneva Housing Worries The housing a administration ministration now slowly swinging into action is eyed anxiously in inner innet administration circles x More than one of the presidents president's counselors has serious private doubts whether the project will be an appreciable factor in stimulating in industry industry industry in- in e eliminating unemployment These fears they base on two grounds 1 Home Hom owners owners most most of them in none too favorable economic condition after four years of depression will depression will be extremely skittish about going further into debt for renovations and mod P 2 Banks still sUIl suffering from rom depression shock shell probably will continue to keep a tight grip on their money bags despite the government governments gov gay s 20 per cent guarantee on all housing housing housing hous hous- ing loans James A A. Moffett dapper housing administrator adminis adminis- administrator administrator and his large staff of publicity shock troops ebulliently proclaim their confidence in being able to break down the sales sates resistance of both bankers and home owners B But t privately they admit it is a a. a big gamble This is exactly what the inper inner circle doubters doubt doubt- ers and the openly critical progressives in congress congress congress con con- gress complain about They hold the time is long past when such risky chances can be safely taken with the country's recovery requirements that the underlying un un- un- un economic structure is desperately in need of solid substance substance and and not the uncertain flurries of shots in the arm Instead of trying to inveigle economically insecure property owners to borrow they contend contend contend con con- tend that the government itself itsel should have launched a vast building and housing pro program ram This would have been specific and meas incas Industry then wo ld be able to gauge Jauge business expectations proceed accordingly Copyright 1831 bj hi United Unite feature Syndicate eradicate te lie nc |