Show l' l fI INSIDE STUFF Politics J 0 lit i c s t id idI I Finance i It WASHINGTON By Paul Mallon f Copy Copyright ight 1934 by Paul Mallon fc The congressional rush to get right ith the president is virtually a stam- stam pede now t J t Take the he house appropriations com com- for example Most o of the 35 that committee want want- congressmen men on fed to restore g government wages wages Apparently Ap p the only strong dissenter was Boylan o of New York The rest were f eager ager to abolish the 15 per cent wage 1 J cut cue It was the politic thing to do It meant more purchasing power for I themselves as w well as their friends I In public service v z M SIr jr Roosevelt was informed of the 1 sentiment in the committee committee and asked members to to drop in m to see sec him They did and immediately became converted con con- cent instead of 15 v r ed to a 3 5 per o a p per er cent restoration i PRESENT f f The converts even went so far as ast t vito to make their report appear to b be Ix unanimous Some who could not noti Bring themselves around to supportIng support support- Ing ng the president cho to vote pres i- i 1 eat ht instead of voting na nay That Th That t kind of voting Ung is becoming popular for the first time at this ses- ses pion sion The practice is frequently resorted re reo re- re sorted to when items of administration ton don legislation come up in committee It permits congressmen to avoid deli deli- l jute ite approval o of presidential policies I without being ing placed in the position I IC lof C cf actually trying to block those p poll poll- li es feIn Tn fact you might say congress Is Just voting present now for Mr Roosevelt l on nearly everything e LANGUOR LANGUOR J L The me stampede has gone so far that ithe he house ways and means committee r also has let the White House know it does Ces not want to be misunderstood on taxes Some o of its members have informed the president pr ident that they will drop their own tax plans and take the treasury recommendations if Mr Roosevelt re really lly wants them j t Such underlying sentiment makes this session congress different from irom any recent sessions There appears to be an amazing absence of ot individual ual assertion It cannot be suppressed forever for ever but for pr the present at least tb c congressmen appear to be quite willing illing t to 1 t M Mr Roosevelt run the country Individual bills have been introduced introduced introduced intro intro- by carload lots as usual The They suggest everything from a twenty billion dollar public works program to payment of cent 50 claims against the toe government But no one pays much attention to these bills not bills not ev even n the congressmen who introduce them They seem to take It for granted grant grant- ed d that they will not get an anywhere with their individual schemes and andare andare andare are content to rest resl on the publicity they get back home for introducing the h ideas WORK The puppet unrecognized state of has opened up an unofficial unofficial unofficial embassy here From a hotel suite the unofficial ambassador hands out ideas for those who care to accept accept ac ac- ac- ac cep them The purpose apparently is to dispel the popular impression that the Japanese Japanese Jap Jap- anese rule That is a difficult dif di- di task Even more dif difficult is the secondary hope that the United States might recognize l The state department can hardly be dissuaded from its Impression that the the are really Japan Japan- in clothing RULES Some people teach things that they cannot learn themselves Apparently that is the explanation for the mishap to a a Georgia ex congressman who visited the house the other day When he was in congress he conducted conducted conducted con con- ducted a school for beginners in poli tIc tics He held classes and taught congressmen congressmen congressmen con con- gressmen how to get reelected His fundamental rules were vere a Never run against an old man b never run against a young man c never run Continued on Pa Page Two INSIDE STUFF Politics and Finance Continued from Pare One against a cripple Cd d never commit yourself His Ills rules have not been held In high esteem since he failed ailed to get reelected reelect- reelect ed last time NEW YORK TORK By James Mcl lulUn Copyright McClure Newspaper Syndicate I The big drive on the federal reserve reserve re re- re serve system as at present constituted constituted is scheduled to start in a 8 week or ten days A New Yorker strongly hostile to the federal reserve plans to JQ visit Washington before then to try iry to start something The federal reserve suggestion that It I would gladly allow the treasury to take the profit on on revaluation of Its gold jold holdings J if only it Jt can keep the metal itself is likely to fall faU on ond deaf a af congressional ears Opponents Opponent stress the fact Act that the federal reserve banks are privately owned and resent the power Inherent in their gold holdings a- a as awell well as the profit made from front the note issue privilege Theres There's stormy weather ahead and even conservatives see see fundamental changes chang in prospect The idea of 01 a government controlled controlled con con- trolled central banking system m warries wor war worries ries Wall street from many angles Even the Stock exchange community normally nominally unsympathetic to banking wo woes woes fears fears s-fears fears the curtailment of loans for use we in inthe the speculative marke markets BLACK Local bankers hankers believe that Governor Gover Cover nor Eugene R. R Black will stick around for a while after alter all He has declined de de- de- de dined a speaking Invitation In Ill New NewYork NewYork NewYork York which h he probably would have accepted if It ithe he hadn't expected to be busy You will probably find him battling alongside Carter Glass In deSense defense de de- de Sense of 01 the federal reserve as U hostilities lies hos develop PRESSURE New Yorkers interested in stripping skipping the federal l' l reserve of ot It its iii powers will wit also try to stir up congressional al pressure pres pre I sure on oa th the tho president to use we his Thomas amendment inflation powers i imore more freely I BUDGET i Local Insiders are arc convinced that tha that the president president had had d one motive in painting paint paint- ing lag the budget picture as u black black or or as red red u as possible which has bas been generally gen gun overlooked That Is the inflationarY infix infix- psychological effect of such a deficit especially abroad The figures dont don't exactly encourage encourage courage cour- cour age foreign purchases purchases' of at dollars With this demand factor actor out of the market easier to slip down to tho the cent 50 iO ent devaluation leveL devaluation level S C If he had wanted to be real Pollyannaish Polly Polly- he could have cut it further to by figuring in 11 for foreign debts and then reduced the residue to by estimating payment in cent 50 dol dol- dol lars jars Of course that would not have been a true picture But experts agree greG that the diagram as drawn look looks much worse than it actually I Is Ls even counting in full government gua guarantees antocs of home loan and farm loan bonds With federal obligations taken at our total public debt including state and municipal will run run un to more than This amounts to around per capita of which three fifths Is 13 federal federa Our debt burden will viii be higher than ever before but it still doesn't look ISO so terrible In comparison with several several sev sev- eral European countries Frances France's debt amounts to per capita Great Britain's to over and md Belgium's to almost 1400 On the other side of the fence are Finland with 20 per capita Japan with 3 and happy Spain with 1 a ahead head |