The Washington times., 1921-03-03
RESERVE BODY
STAYS INTACT
Harding to Keep Group Out OF
PoIitics-Berths Won't
Be Spoils.
By NORMAN HAPGOOD.

fro6l0ent-elect Harding 10 snow
ing In numerous ways his desire to
get broader basis than merely his
political friends for administration.
He evidently feels that to get by the
difficult days ahead he will need
| great deal of expert help.
Y RESERVE BOARD STAND.
He has taken a stand about the
federal Reserve Board that Illus
trates this desire for efficiency. That
board Is charged with the administra-
tion OF the most important measure
passed during Mr.. Wilson's Presi-
dency.
During the campaign last summer
an attempt was made to bring politi-
cal influence to bear on II, and when
board has such enormous power
over credit the danger OF attempted
influence must be ever present.
There has been a meeting between
the President-elcct and delegation
from the Federal Reserve Board. The
President-clect made II entirely clear
that he had no desire TO use the
vacancies as spoils.
The chairman of the board, w, p.
Q. Harding, had, according to ne VS.
paper reports, been contemplating re-
firing to accept the presidency of a
corporation. The incoming President
has seen these reports He told the
chairman that he hoped he would not
resign; at least. not with any idea that
President Harding would like to hll
his place.
That place becomes vacant in 1929.
There are five members appointed by
the President. One place becomes va
cant every two years. At present,
however, there is an irregularity,
place becoming vacant on Friday, be-
cause 1t is an interim appointment. If
President-elect Harding has made UP
his mind whom to appoint to that
place his decision is not known.
CERTAIN CHANGES PLANNED.
Certain changes are likely in the
makeup OF the board, but they are
changes depending on legislation.
One project is to do away with all
the ex officio members Of the board.
leaving only those who are appointed.
A less extreme measure, and one
likely to become law, calls for the
elimination from the board of the
Secretary of the Treasury, who under
the present arrangement presides
over the meeting when he is present.
Some Congressman want no member
OF the Treasury on the board. Others,
who seem likely to prevail, feel the
need of close touch between the
Treasury and the board, but do not
want the Secretary to be member,
fearing too much influence. They
favor the appointment of an Under
Secretary OF the Treasury to sit on the
board.
"A change that is practically certain
to be made is in ending the present
plan of having the chairman Of tile
- 81 k~x 70 ~
the. Treasury from among those al
ready members of the board.
MEMRERS TO CHOOSE HEAD.
1t is pretty clear that the chairman
hereafter win be chosen by the men,
bers themselves, possibly with some
such rotation plan as prevails on the
Federal Trade Commission. This
change IL due to a belief that this
designation has put unnecessary per-
s0nAl power in the Secretary's hands.
;, In the conference between the Pres
ddant-elect and the delegation from
tho board, two things stood out. One
was that President-elect Harding is
At present entirely unfamiliar with
tho workings of tho board. even its
most elementary aspects. The other
10 that he wishes the members to un-
derstand that he now plans to keep
yond the reach OF political influence.
have just received q letter regard
ing James J. Davis and his fitness for
Secretary of Labor. 1t Is from Fred
KeiEhtly. international secretary
treasurer Of the Amalgamated Associ-
ation Of Iron, Steel and Tin Workers
, of North America, who believes that
T. have not given Mr.. Davis credit
for as much actual manual labor as
he has done. &C.,.
DAvIss LABOR RECORD.
am therefore glad to print Mr..
KeiEhtly's statement of Mr.. Davis's
record as a laboring man:
''Mr. Davis first became a member
Of our organization at Sharon. Pa,
about the year 1889 as a puddler, one
Of the most skilful trades in the
iron business. He later worked at
that trade in Birmingham, Ala,
which he left during the year 1892.
transferring his membership to Nc
KinIey Lodge, No. 21, Indiana, at
tin mills and worked himself up to
the highly skilled job of tin mill
heater. which position he held when
he left the position to become city
clerk at. Elwood.
"when the tin mills OF Elwood
were lost to the ranks of our or
ganigAtton in the strike of 1900 ard
that local became defunct, Mr.. Davis,
with some others. transferred his
membership to Granite City Lodge.
NO. II, Illinois, Of which local he Is
an active member to this date"