The Washington times., 1921-06-26
HOOVER GTESSH|P
BOARD ASLESSON
INSTATEC0NTR0L
Commerce. Head, Qulxzsd IN
Senate, Opposes Norris
Farm Exports Plan.
~ I.t~y..tisnaI News Service.

"terrtble example OF the fAiivre oi
attempted Government operation,"
Secretary of commercs Hsrbsrt
Hoover ysstsrday dsplorsd any fur
thsr sfYort TO engage tho Govern
ment In business"
Appsaring before the Senate Asri-
culture COMMITTEES. Hoover opposed
tho Norris bill for the creation Of .
500. 100000 Federal corporation for
the export Of surplus American agrt-
cultural products as certain to In
voivs the Government in another
undertaking which he said ha be-
lieved should primarily be left 20
private business"
Senator Norris opened discussion
with Hoover on the Penross bill 10
carry out Secretary Of the Treasury
Meilon's plan for rsfunding foreign
loans.
HADN'T HEARD or PLAN.
II have not heard that there II
any plan afoot to take German snd
Austrian securities In exchange for
allied bonds" said Hoover. II don't
think such an idea is In Secretary
MELONS mind. II probably would be
an advantage to exchange some OF
the bonds Of the minor. unstable gov
srnments, which we hold. for better
securities. and the bill gives the sec-
retary of the Treasury authority to
do this.
You may be sure that no one in
the Cabinet would use the bill against
the Interests of the United States"
Hoover said that the United States
Grain Corporation has taken Polish
bonds to the extent of $40 ZOO 600 for
flour shipped to that country. but
he insisted that as peace conditions
are restored exports should largely
be left In the hands OF private en-
terprise.
Interrogatsd ty Senator Ransdeii,
Democrat. of Louisiana. Hoover ex-
pressed doubt that debentures issued
by the corporation proposed by the
Norris biil would oe saiabie In the
American Government"
tit wuoid. All depend ON the
strength and stability of the govern
ment behind them.~ he said. .Tho
only certain way to insure their sale
Ia TO have the United States Gov
eminent guarantee them. II you are
going to do that Il would be better
70 do IL directly. ana do away with
the cumbersome machinery provided
for credits. 1t would amount to the
same thing. In the end"
II hesitate like anything to sugxes.
or approve any plan that would In
voive the Government further In any
Undertaking which might result In
failure and which, In my judgment.
should be left 20 private business,-
Hoover continued.
The difficulty in securing the sery-
Ices OF capable. experienced, high
priced business man 10 direct suca
an undertaking AZ the Norris bfii pro-
poses II one of the chief obstacles in
the way of It's success. Hoover added.
NORRIS Is CoMPLIMENTARY.
..It 10 30 hard to induce a man ca
psble Of earning a salary OF 500, 900
a year In q private business TO max,
the personal sacrifice necessary for
him to direct the activities Of a Gov
ernment enterprises such as is pro-
posed here" he continued. '.It IL easy
to secure the services OF q s5,00o-a-
year man. so hard to set q man who
Is worth 100000 a year"
But certainly there are 500. 900 a.
year men In the Presidents Cabinet, 4
Senator Norris. Republican.
of Nebraska, author of the bill.
And there are Senator's receiving |
$1,000 year who certainly are ca
pabie OF earning more and who can
not begin TO live on their saiariea,y
remarked Senator Gooding, Repub-
lican. of Idaho. "They are making
personal sscrifices"
Hoover pulled a thick. black cigar
from his pocket and lighted ,it. He
made no response.
NRrDs MEN LIKE BARNES.
Senator ooodins urged that -some-
thing must be done to push the farm
ers over the dangerous crisis facing
them" and suggested that the Norris |
bill offered q "much-needsd solution |
Of the country's grave agricultural
Hoover said a sloo.ooo-a-year man
like Julius Barnes, former head of the |
United States Drain Corporation, |
would be required to insure the sue
cess OF the Norris plan, and he ex-
pressed doubt IL such a man would
be found available"
He referred to the serious diff |
Guilty President Harding had in Sc
curing the services OF the fright kind |
Of a business man" for the chairman
ship OF the Shipping Board.
The Edge law. intended to create
export corporations Hoover described
as ''same kin dof a proposition" as
tho Norris plan. and expressed the
hope that nothing would be done TO |
prevent the country from getting
a