| Show t Inside 1St Stuff B By PAUL MALLON 1 l WASHINGTON April The 18 Vary jory ory is g going all aU around the world by fiord word werd of r mouth that Switzerland by I go o off gold next then Holland R lastly France These developments development supposed to be more or less of or a at t rea Ir Ire certainty certainly during the next w VI months mouth t if i The point generally ma made e Is that the c these tese developments will upset differential which our currency has since devaluation and that President Roosevelt will have to der devalue de- de r 0 value again The Thena na of story seems to be beG G Geld ld 14 Bloc generally sound except the final conclusion It may surprise financial 3 authorities author ties tiei to learn that the new dealers ire tre not primarily thinking in terms V devaluation now They believe that after alter the gold bloc is d Absolved the president will try to toe e tall call ll an art international monetary con conferenCe ference prior to any further devaluation tion or stabilization moves To devalue independently would Injure chances of eventual tion lion Our curren currency C is undervalued sow now Ow anyway We are a creditor nation nation nation na na- na- na tion with a favorable fa trade balance and md this will hold the dollar up rc- rc s of our monetary moves w I. I S The new deal crowd is thoroughly up on the inside about aboul the grow growing vocal volume of oC its tion Mr Roosevelt is actively organizing or or- to match voice for voice and andvord vord rd for lor word This is why the cabinet is being pushed out outon on the stump again Inside In In- lide side of a few days last week half hall of them were out defending the new deal Interior Secretary Ickes was lent gent to Philadelphia to answer the Dou Douglas las attack Agriculture Secretary Secre t tary ry Wallace used N New w Deal his trip to Atlanta Defense Defence to help quiet reIs reIs re- re Is TC Active to the cot cot- ton program Treasury Secretary Secretory took to the air Professor Tugwell explained ex cx to a New York teachers' teachers group that the new real was the third economy somewhere between Ind Individualism and socialism He also termed it delicate social surgery But the best example of the technique tech que now now being employed in resistIng resisting resisting resist resist- ing attacks is the stor story of how the White Ho House se organized to handle the New England governors S The Th governors led by Governor Curley came here with blood in their eyes eye prepared to put on a good campaign campaign cam cam- aga against agat t the cotton program They wanted elimination of or the pro processing tax protection against Japanese competition and some other things Their pockets bulged with rl They even had an exhibit of cheap Japanese goods at their hotel But Mr Roosevelt organized as extensively ex ex- to meet them as they did to bring pressure on him State Secretary Secretary Secretary Secre Secre- tary Hull was loaded with counter statistics These were used by Mr Roosevelt to show that Japanese competition amounted to only 1 per percent percent cent of domestic Diplomacy production Com Com- Squelches merce Secretary Revolt levoU Roper a 8 among rn m a 0 n g w was a s pressed into service Ropers Roper's contribution was a little Continued on Page Pue Three Inside Stuff Continued from Page Pace One speech in fn which he hc suggested the appointment appointment ap ap- ap p of a fact finding inding commis commis- sion You can imagine what a deep impression this made on Curley and his associates who came down here hereto to demand action There was one little thing which ma may have prevented Governor Curley Curley Cur Cur- ley from telling Roosevelt Roper et al aL at what he really thought He had an appointment the followIng following follow follow- ing day with Mr Ickes to ask for of P W A money for his state stale The energy and scope of the new deal defense defens campaign indicates the general program is not going to be curtailed led much without a struggle The Wallace crowd decided to stand standby standby standby by the cotton program and will fight In all the cabinet speeches there was not a word to hint at a possible retreat retreat re reo re- re treat in any important particular a 1 e I e eThe The purpose of the radio speech was wt not apparent unless you read between bet the lines The main hidden reason he made it was to point out officially all for the first time that expenditures are arc running running run run- ning behind the esti esti- mates His secondary purpose was to show there was no reason for the administration to come forward with witha a new nt tax plan this session This should lay a couple of business ghosts The new dealers are grieving privately privately pd- pd about the lo loss los s of the Eccles plan in the bank b bill ll They concede Senator Glass wilt will probably win his fight light for lor the elimination of that controversial controversial con con- section title 2 and that the other sections will wiIl be adopted This advance grief seems to be a little lit lit- little tle premature In fact it has some Q of the appearances o of being p mn Q The argument Is not over yet by a along along along long shot Copyright 1935 for The Telegram |
