| OCR Text |
Show s HEARD HED HEARDl1r HEDar6iundthe JB . JB.Hftip JBHftip . . * fc -Ba.ja.yw Baja.yw Ba.ja.yw Bajayw fcBa.ja.yw - , . . . , > - l1r ar6iundthe anmnd nd the theN the theNATIONAL.CAPITAL N NATION.PJ NATIONPJ ar6iundtheNATION.PJ NATIONAL.CAPITAL NATIONALCAPITAL NATION.PJCAPI TIONM TIONMCAPI . CAPI T Al ] , TAI CAPITAI . . , , By Carter Field Fie1d Fie1dWashingtonIt * \ WashingtonIt Washington-It Washington It Washington -It It - -It It - seems probable probableat at the moment that title htle of the fed fed- federal federal federal - eral hou housing < ; mg act-the act the act - - the section sechon whIch whIchprovIdes whichprovides whichprovides provIdes for government guarantee guaranteeof of loans for tor repaIrs-will repaIrs will repairs - will be allowed allowedto allowedto 10 to die when it expires by llmitahon limitation limitationon llmitahonon on Apr April 1 . There may be a sharp fight over overIt overit overit It , . and undoubtedly there will be a alot alot alot lot of outcry if l ! this should come to topass topass topass pass , but the cold tact fact is the fed fed- federal federal federal - eral housing commission does not notwant notwant notwant want it Jt , though professing to be beneutral beneutral beneutral neutral The further cold fact tact IS ISthat isthat isthat that the house banking bankmg and curren curren- currency currency currency - - cy committee , . which V.hICh VhICh ' will 'WIll handle the thecglslation thelegislation thelegislation ] cglslation legislation , does not . want v.ant vant it it . . In the house it Jt is very difficult tor for tormembers formembers formembers members to work up enough steam steamllnd steamand steamand llnd and enough votes to override a com com- committee committee committee - mittee It is very different in 10 the thesenate thesenate thesenate senate where a few outraged solons solonsean solonscan solonscan ean can force torce a aote t \ \ote ote ote on almost any any- anythmg anythuig anything - thing thmg thuig , no matter what the commit commit- committce committee committee - tee tce may have reportedBut reportedBut reported reportedBut But in m the house a committee can cansmother cansmother cansmother smother a bill with comparative comparativesafety comparativesafety comparativesafety safety , unless there is very strong strongscnhment strongsentiment strongsentiment scnhment sentiment for it and a clear ma- ma major.1ty majorjty ma-jorjty ma jorjty - jor.1ty jor1ty jorjty . of the house members want wantthe wantthe wantthe the measure passed Which Wluch is a arather arather arather rather difficult situation to bring bringabout bringabout bringabout about , especially when the govern govern- government government government - ment bureau or agency involved mvolved IS ISagamst isagainst isagainst agamst against that particular thing thmg , as in in1hls inthis inAhis 1hls this case Even E\en E en \ when a committee reports reportsa a bill bdl . , it is very difficult for mem memo memobers mem- mem members members - bersIshmg bers \ wishing \\Ishmg Ishmg \ to amend it to brmg bring brmgabout bringabout bringabout about a test . . A senator can pro pro- propose propose propose - pose any amendment heIsbes he \ wishes \\Isbes Isbes \ to toany toany toany any pending pendmg legislation leglslahon , and force forcea a vote He may not be able to force forcea a roll call calI vote , but at least he can canforce canforce canforce force a voice vote , and , if there IS ISdoubt isdoubt isdoubt doubt about the rejoinders reJomders , and he hecan hecan hecan can muster a fair number to raIse raIsetheIr raisetheir raisetheir theIr bands , he can force a roll- roll rollcan rollcall roll-call roll call rollcallBut - can call canBut callBut But in m the house the committee 10 in 10charge incharge incharge charge , acting actmg with the rules com com- committee committee committee - mittee . , car pick and choose among amongthe amongthe amongthe the amendments on which they wIll wIllpermIt willpermit willpermit permIt votesThe votes votesThe The Logic of It ItThe The logic of the federal hous1Og housing hous1OgadmlmstratIon housingadministration housingadministration admlmstratIon administration , in desiring deslrJng to aUow allow aUowthIS allowthis allowthis thIS function of insuring msurmg repair loans loansto loansto loansto to die , is rather interesting lOterestlOg , , espe espe- espeClaUy espe- espe especially especially - - cially ClaUy as it is slightly shghtly contradictory , . jOne One reason is JS that ihe the housing housmg admmlst1atlon administration ad- ad administration - ] ministration mmlst1atlon believes there has been beensuch beensuch beensuch such an improvement in bUlldmg building bUlldmgconstruction buildingconstruction buildingconstruction construction that there is an actual actualshorbge actualshortage actualshortage shorbge shortage o of ( skilled skl1led workers in m many manyplaces manyplaces manyplaces places To put undue emphasis on onrepaIrs onrepairs onrepairs repaIrs therefore , it holds , would wouldendanger wouldendanger wouldendanger endanger the supply of skilled work work- 'work- 'work workers 'workers ' workers - ers ior for or more important construc construc- construe- construe constructIOn construetion construction - tion , and actually retard business businessreco businessrecovery businessrecovery reco recovery . ery . . The other reason is that the banks bankshave bankshave bankshave have learned by experience e\.penence e.penence e .penence penence ' \ . now nowtha nowthat nowthat tha that t these repair loans are safe and andsound andsound andsound sound , and that therefore it is no nolonger nolonger nolonger longer necessary for the govern government government government ment to guarantee themIn themIn them themIn In short , it contends on one hand handthat handthat handthat that the insuring lOsurmg of these repaIr repaIrloans repairloans repairloans loans is not necessary-that necessary that necessary - - that just as asmany asmany asmany many will be made by the banks banksif banksif if they are not insured by the gov- gov governmentand gov government - . ernment-and ernment and ernment - and on the other hand handthat handthat handthat that these loans loam : , ] if l ! f encouraged by bythe bythe bythe the government , will WIII viiI lead to so somuch somuch somuch much repair work that thereV111 there \V111 V111 will willnot \ willnot V111not not be skilled workers enough for forthe forthe forthe the big blg construction jobs ' You p pay lY < your money and take takeyour takeyour takeyour your choice cholce , but attaches of the thehousmg thehousing thehousing housmg housing admmlstra administration on argue val val- val1antly val- val valiantly valiantly - - iantly 1antly for both pomtsMeanwhIle pointsMeanwhile points pomts pointsMeanwhile Meanwhile many concerns inter inter- interested interested interested - ested in m providing provldmg repair matenals materials materialsand , and there are lots of them , are very verymuch verymuch verymuch much interested mterested in m havn havll have g the thepoer thepoirer thepower po\/er po er poirer \ / extended They seem to thmk think thmkthat thinkthat thinkthat that this government insurance msurance , 11 if 11contmued ifcontinued ifcontinued contmued continued , would result in m more re repaIr repair repair paIr jobs than would the idea that thatbanks thatbanks thatbanks banks would make just as many manyrepaIr manyrepair manyrepair repaIr loans it if government insur insurance insurance insurance ance were withdrawn withdrawnAll All of which would result in m con conslderably considerably conEiderably slderably siderably more conversation on Cap CapJ10l Capitol Capitol J10l itol HIIllf Hill if President Roosevelt's Roosevelts ' Su Supreme Supreme Suprcme preme court proposal proposalere proposallere \ \/ere ere \lere lere were \ / not over over- overshadowmg overshadowing overshadowing - shadowing shadowmg everything everythmg elseGet else elseGet Get Weird QueriesSome Queries QueriesSome Some of ot the weirdest queries querles that thatWashington thatWashmgton Washmgton Washington nev/spaper nev spaper newspaper / correspond correspondcnts correspondents correspondents resultfrom cnts ents get from their papers result from Wall Street tips New York's Yorks ' downtown York'sdowntown Yorksdowntown fin financial 1ncml < district cer cere ccr- ccr - . t tainly lmly certainly ceret ccrtainly < is tops in 10 a lot of thmgs things . thingsShrewd thmgsShrewd Shrewd Washington Washmgton observers know know1t knowit knowit 1t it is seldom indeed that a real news development newsdevelopment is not known in 10 some somesectIons somesections somesections sectIons of Wall street before it IS knov know.i knowi isknowj ISknov isknow.i . . ) . to hall half hail the officials otf1clals concerned concernedhere here There is money to be made madein madein 10 in Wall Street with , the proper in- in in m . - formation information , if 11 it can be obtained obtainedJust obtainedjust obtainedjust Just a little l1ttle in 10 advance of the other otherfellow fellow SslWhen . And very frequently it is Ssl ! When a lot of money can be made madeout madeout madeout hotto hoto out of a thing . , i 1 + becomes too hot ho t to handle as rule a , as was evi eVl- eVl cvi - denced dented evidenced eVldenced cvidented by the tbe attempts to enforce enforc enforceprohIbItIon enforcprohibition enforceprohibition e prohIbItIon , and as is evidenced by bythe the difficulty of poolrooms suppressing suppressmg pool . rooms , and is as evidenced by rac . , WallStreet WaStreet ing lug racing generally Racing and Wall Wa U Street add to the ' 'hot hot ' hot " money nn- nn nngle an angle - gle the love of most humans tor torgambhng fo fogambling torgambling torgamblingAll r gambhng gambling gambhngAll gamblingAll All of at which results in Wall Street Streetso Streetco StreetEO EO so frequently being in 10 the position of o f having ofhaving ohaving advanceinside advancinside bought and paid for tor advance advanc e insIde information , . , But it also inevitably in inevitably . evitably evltably leads to something aomethll.g aomethllg . else There are plenty of people in Wan Wall WanStreet WallStreet WallStreet Street who wbo are not declared in on onthese onthese onthese these news sources-but sources but sources - but who like hke topretend to topretend topretend pretend to be . Also there are arc gen gen- gentry gen- gen gentry gentry - - try who have very poor or very veryprejudIced veryprejudiced veryprejudiced prejudIced sources of Wa'lington Walington Wa'iingtan Waiingtan Wa'lingtoninformation Wa'iingtaninformation Washingtoninformation WashingtoninformationIt " ' ' ' information informationIt that thatproduce thatproduce thatproduce It is these last two classes produce so much misinformation misinformaUon- misinformaUon misinformatfon- misinformatfon misinformatfonwhose misinformaUonhose misinformationwhose - flat Qat predictions and allegedquotations alleged allegedquotatIons allegedquotations " , whose hose quotatIons of whatlithe what "the the lithe " the President Presidentsaid Presidentsaid Presidentead said ! to Mr . . , Blank " cause so much muchgrle muchgrief muchgrief the Washington Wachmgton ; cor cor- correspondent cor- cor correspondent correspondent - - grle grief ! when poor respondent gels gets a telegramge telegram toeStreet relayed relayedfrom relayedfrom toe from Streetfrom his hlS paper's papers ' Wall ge getoe Street cor cor- correspondent correspondent - respondent paper'sthrough through the telegraph telegraphnews telegraphnews telegraphnews news deskCauses desk deskCauses Causes Big LaughAll Laugh LaughAll All of which is apropos of the the"lOslde the"inside the"inside theinside "lOslde lOslde "inside inside " " information mtormatlon in Wall Street Streeta a few days back that the real renl reason reasonthe reasonthe reasonthe the steel industry came to terms termsWIth termswith termswith WIth John L Lewis LewJs Lewis- Lewisthat ' - that certam certain certambIg certainbig certainbig bIg interests were said now to be becertain becertain becertain certain that Lewis had been "suf suf "suf- "sufficiently "sufficiently " . - ficiently ficlently deflatedl defiated deflated ! " This suggestion was receh received ed in inWnshmgton inWashington inWashington Wnshmgton Washington with Wltll whoops of merrimeat merri merri- merriment merriment - ment meat Even labor news e experts perts who whohave whohave whohave have a personal affection afIeehon for Wil W1I- W1I Wil- WilIlam W1IIIam William - liam IIam Ilam Green and who personally dis- dis dislike dis dislike . - like bke John L Lewis-and Lewis and Lewis - - and others whobelieve who whobeheve whobelieve beheve believe strongly in 10 the craft umon union umonand unionand unionand and hate the C . . I 0 idea-all idea all idea - all agree agreethat agreethat agreethat that Lewis won an amazing vIctory victoryin vIctorym m in his conflict confuct with General Motors Motorsand , and has made amazing amazmg progress progresssmce progresssince progresssmce progresssmceThere smce since smceThere sinceThere There is scarcely a dlsmterested disinterested dlsmterestedobserver disinterestedobserver disinterestedobserver observer here bere who does not beheve believe behevethat believethat believethat that the C I 0 now has its Jts head headwell headwell headwell well under two big tents , entrance entranceto entranceto to which was highly rughly dubious just a afew afew afew few months ago-steel ago steel ago - - steel and motorsGeneral motors motorsGeneral motorsGeneral General Electric was not much at of ata ofa ofa a surprise It has bas been printed pr10ted 10 m 10these mthese mthese these dispatches several times 10 in 10th inthe mth-s mth s th the - last few years that GeneralElectric General GeneralElectric GeneralElectric Electric was very much in 10 favor favorof favorof favorof of what has since smce become the C . I Io I0 o 0 plan-that plan that plan - that what it feared was . . jurisdictional disputes between va- va varIOUS various va various - rious craft unions unlons , which would tIe tIeup tieup tieup up its plants regardless of its own ownlabor ownlabor ownlabor labor policy pohcy . And there tbere are few m 10 in Washmgton Washington Washmgtonho Washingtonwho Washingtonwho \\ho ho who \ do not believe beheve that it Jt is only onlya a question queshon of time until both those thoselOdustnes thoseindustries thoseindustries lOdustnes industries are closed shops It may maytake maytake maytake take two years-It years It years - it may take five fiveyearsHenry fiveyearsHenry fiveyears years-Henry years Henry - Henry Ford may never comeinbut come comeinbut comein in-but in but - but few here doubt that such suchmovement suchmovement suchmovement movement as there is from now onwill on onwill onwill will be m in that directionAnd direction dlrecl10n directionAnd And the answer to it all is JS very verysImple verysimple verysimple sImple Most of the business busmess executives execu execu- executives executives - tives want to make money-now money now money - - now.Few nowFew . Few of them are interested lOterested in m fight fight- fight109 fighting fighting - ing 109 for a principle prmclple if l ! such fightmg fighting fightmgwIIl fightingwill fightingwill wIIl will cost them a lot of money , and andprovIde andprovide andprovide provIde a motive for both govern govern- government government government - ment and labor sharpshooting sharpshootmg at atevery atevery atevery every detail detall of their business busmess and andprIvate andprivate andprivate prIvate affairs : Especially CspeclaIly if l ! they theycan theycan theycan can be sure of passing passmg any addi addl- addl addi- addltlonal additional additional - tional tlonal cost |
