Show l TUE E DAILY O WASHINGTON Merry Go Round Trade Trado Marie MarieDy Dy By DREW PEARSON and ROBERT RORERT ALLEN V The WASHINGTON Prodigal Son for at least one important has battle come back to the fold Aroused b by ball Wall all street mutilations of oC the stock market bill Professor Moley head of the original brain trust has assumed the role of crusader against the lavishly financed fl- fl opposition which Big Money has launched against the new deal His Wall anti street strategy was recently at a secret conference with Ferdinand Pecora senate banking committee prosecutor and Max Lowenthal an author of the bill As Asa AsI a result Moley has urged Roosevelt to go on the air in one of his famous talks to the peo- peo pIe The president is expected to follow his advice Moley's argument is that the thc stock market bill biU symbolizes all that Roosevelt has stood for If we are to go back to an era of oC Coolidge bull markets and Hoover depressions in which the stock market made millions of dollars and unmade millions of people then the new deal might as well quit Moley Moey also argues that if Roosevelt takes it on the chin in this fight congress congress already already on the will loose go wild and hell he'll b be taking tak- tak S ing it itron Ion the d chin n from now on Unique Coalition In this Moley Molcy is about right The stock market bill biH is going to present one of oC the greatest greatest great great- est floor loor fights one of the most spectacular senate debates in recent congressional history Already mutilated in committee by Republican lican ican Tories and Wall Vall street members of Roosevelt's Roosevelt's Roose- Roose velt's own party the real fight will be made on the floor loor There a coalition of Democrats and Republican Progressives will be out to restore the original plan of drastic market regulation Allied with these Progressives are two men whose backgrounds are as alien as their political cal creeds Sam Rayburn man chairman of the interstate commerce committee is a small town Texas law r who fr twenty years in the tho house ot of representatives belonged to th little Garner clique Never was he known to show a streak of radicalism Now with an iron hand he has fought f the bill which according to Wall Vall street will doom the country to Florida Crusader Across the capitol Duncan U. U Fletcher has fought the same battle During his 26 years years' in inthe inthe the senate Fletcher was an industrious plodding plodding plod plod- ding gentleman who never hit the front pages never distinguished himself for anything bril- bril But with the reorganization of the senate last year Fletcher had the right to be chairman of the senate banking and currency commit commit- tee Carter Glass wanted the job felt feU he was entitled to it raised his voice in hurt protest But Fletcher had served longer stuck by his hisgun guns gun kept the job Some people expected the bank already tion-already started under Hoover to fl flop p after Fletcher took the helm He was supposed to be too conservative But the opposite was the case Through exposes of J J. J P. P Morgan Kuhn Loeb Dillon Read and Chase National bank he pushed relentlessly forward Nothing Nothing Noth- Noth ing could stop him And the other day faced with secret committee corn com rebellIon by his own party he pleaded Gentlemen we have spent months and of the peoples people's money to demonstrate the need of drastic legislation Millions of men and women have been impoverished that a few ruthless and rapacious speculators might grow wealthy You cannot destroy this bill The president wants the country demands it Deadheads The soviet embassy was a little nervous be- be lore fore it pulled the reception which had all Washington Wash Wash- ington angling for invitations Friends at the Turkish embassy one of the first countries to recognize the soviet government government govern govern- ment were called upon for advice Mrs Jack Tate able secretary of the Turkish ambassador was asked If we invite one thousand people how many do you you think will come Eleven hundred she replied Note Note-At the embassy door however stood a checker with a list of all invited guests The eleven cleven hundred did not come No one not on the list was admitted V VS S S S SAt A At the con conclusion of the big receptIOn reception recep- recep tIOn It was noticeable that the Russians did not sing The American guests led b Heywood Brouns Broun's basso sang it just before before be- be fore they left lett at 4 a. a m. m Hitherto the British British Brit Brit- ish embassy has been ranked the most exclusive exclusive sive in Washington its invitations the most sought ought after For the time being at least the Russians have taken this reputation away What really went over big at the soviet party was champagne and on every floor The embassy is four stories high ht 1934 by br United Inc |