Salt Lake Telegram | 1935-05-11 | Page 4 | Merry-Go-Round

T THE E D DAILY ILY WASHINGTON Round Merry nd Trade Mars Marl MarkBy By DREW PEARSON and ROBERT flOBERT ALLEN WASHINGTON Next to the precarious reign of King Cotton probably nothing is worrying worrying worrying wor wor- I the administration right now as much as the ever weakening pulse of that interdependent dent industry industry textiles The two industries industries chief chief economic backbone of New England and the south south south-go go hand in hand Textiles are suffering in part from the uncertainty uncertainty uncertainty of cotton This is one ill which White House advisers may attempt to remedy immediately For weeks mill after mill has been closing in New England The epidemic is now spreading spreading spreading spread spread- ing through the south One factor is the fear that raw cotton will slump in price That fear causes textile wholesalers to hold back their orders This in turn causes causes textile mills to toi close their doors All AU are waiting for a stabilized price of oC cot cot- ton That in turn depends on whether Secretary Secretary Sec See Henry Wallace Vallace will once again set a loan price of 12 cents a pound on all cotton Due to setting price last year the United States government is the biggest holder of cotton cotton cotton cot cot- ton in the world today The chances are that if iC Wallace succumbs to the tremendous pressure pressure pres pres- sure now hammering at him and fixes the same loan price Uncle Sam will increase his holdings holdings hold hold- ings further This in turn depresses the market Textile wholesalers and manufacturers in turn get Uneasy un uneasy uneasy un- un easy wanting to know what is going to happen It is a vicious circle not dissimilar to Hoovers Hoover's purchase of wheat which drove the thc price of wheat lower and lower This is only part of what is is worrying administration administration ad administration ad- ad ministration minds master-minds regarding textiles Another thing is the high price of textiles Manufacturers lay this entirely to the processing processing processing process process- ing tax Administration experts say this ac accounts accounts accounts ac- ac counts for only part They claim there is also an increase for which the manufacturer is re re- re At any rate prices of textiles have now zoomed out of all proportion to the income of oC labor Three Y Young Qung Men Only time will win tell teU whether the recent conference conference conference con con- ference here of wingers left-wingers carried the germ of a serious third party threat No one was more uncertain about the future political significance of their movement than the aggregation of Wisconsin progressives Laborites Farmer-Laborites Farm Technocrats Technocrats Techno Techno- Utopians and so forth who made up the gathering On two matters however the they were agreed 1 That there is a sound economic and po political political po- po basis for a wing left pary 2 That another meeting should be held to explore further the possibilities of organizing such a movement The date and place for this second conference was fixed tentatively in the latter part of June in Chicago While in itself the meeting was of nebulous importance there was one fact about it that was significant That was that none of the recognized recognized liberal leaders had a hand in its call caU or attended the deliberations Senators La Follette Norris Nye Frazier Wheeler were asked to join the movement but all shied off It was three young men little known outside of their own circles who were the brains behind the gathering The They are Representative Tom Amlie the real organizer er of oC the Wisconsin progressive party After last years year's smashing victory at the polls the two La Follette brothers were widely acclaimed for political daring But it was the tall taIl blond Unspectacular un unspectacular unspectacular un- un spectacular former hand farm-hand who conceived and forced through their bolt from the Republican Republican Republican lican party Alfred Bingham tall taIl radical son of erudite Hiram Bingham time one-time ultraconservative senator from Connecticut As editor of Common Common Cornmon Com Corn mon Sense Alfred for more than a year has been vigorously agitating the coalescing of lef left left- t wing elements into an independent political party Representative Vito Marcantonio short dynamic dynamic dy dy- dy- dy inheritor of the seat once held by Mayor LaGuardia Although nominally a Republican Marcantonio has advanced economic and social views that place him far to the left of even the liberals I Copyright ht 1935 by br United Features Syndicate Inc