Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1922-08-04
VIRGINIA l 4 NEWS
AT CAPITAL
BY George H. Manning
Especial correspondence

ht f---. t..rt
Washington, D. c., Aug :S-If
President Harding reappoints Cover
nor w. P. C. Harding Oh the Fede-,
raj Reserve Board, which be, mas ln-
dicated as his inteptiotis it promises
to bring on one of the most spirited
fights in the United States ,this
session. Governor Harding's term
expires August 9Th, after term OF
eight wears, during the latter two OF
which he has been Governor 81 the
Board.
The Federal Reserve Board heads
policv of deflation invoked in an ef-
fort to counteract the financial in
flation during the war, has created
for him q number of bitter enemies
who. led by Senator Thomas HELM,
of Alabama.-also the native state
Of Governor Hardingy-ares deter
mined to defeat his reappointment
if his M animation is sent to the Sen
ate by the President. .gl.i
incidentally, quite a few changes
in the heads of various government
departments in Washington are IN
volved in the fight over the Federal
Reserve Board place. Friends OF
Eugene Meyer, Jr., head of the, War
Finance Corporation, are making no
secret of their, efforts to, have him
appointed On the Federal Reserve
Board in place Of Governor Herd,
ing. ~ &C. 80, + :"
Appointment to the Federal Re-
serve Board is made byi the Presi:
dent. who also designates each year
who shall be Governor of the Board.
The friends of MR. Meyer want shfm
first appointed on the board, land
then named as Governor to take the
place of Governor Harding, "a
Mr.. Meyer has secured a strong
endorsement from middle western
states through the numerous ad-
vances and loans which ,.he I has
made as head of the corporation to
assist in the marketing of agricul-
tural products, and if any hitch oc
ours in the reappointment of Gov
ernor Harding it is believed he will
make a strong candidate for the po-
Sition.
Coincident with Meyers plans
comes word from, a high official of
the Administration that Senator
Porter j.. MeChmber, chairman OF
the finance committee, and recent
ly defeated. iu the primary of North
Dakota, is being groomed to take
Meyers place as head of the War
Finance Corporation. The, North
Dakota Senator has been In Wash
ington since 1899, when he was first
elected to the upper house of Con-
gress, and. has expressed a desire to
remain at the capital instead of re=
turning to North Dakota.
Congress only recently extended
the life Of the War Finance Cofpo-
ration for another year. The, hair
manship pays $4,000 per anHum,
and is one not without influence.
In addition to this, the affairs OF
the office are so complicated,i SO
numerous have been the advances
made, that it. is practically certain.
that at least three years more will
be needed to complete the business
on hand, including the eollec tionSQs
loans. and such matters IS, z & lysss
Whether McCumheE IS saaIne ed y for
the place-dependsnt Of course upon
Meyers elevation StoTtEe Federal
Reserve Board%7itS is generally CON
ceded in WASHINGTON that the North
Dakota senator will be giver. sseme
equally important opposition at Sthe
capital. $ NJ -
Senator Harry New, recently de
feated in the republican primary in
Indiana by James X ;Beveridge, 81 is
also scheduled for one of the high,
Offices. 1T was reported
shortly after VIII HAYS resigned as
postmaster general Tthat his success
Sor would be named only temporar-
lily and that the Indiana senator
would be given the cabinet placesSimL
mediately following the expiration
on his term in March DR.. Wark.
present holder of the office, is eX-
pected to tender his resignation
about that time to make room for
There may be others who viii
share in the general redistribution
of offices after March, as the Piesi-
dent has a reputation for taking
care of 'the boys" raj. NJ
W llSn kAS NOAlk ACSS. pdSStU early
in the summer the Federal. Reserve
act amendment , President Harding
during one of his conferences with
newspaper men stated that he,
would probably reappoint Governor
Harding to continue his position.
Before that the matter was looked
upon as somewhat in doubt, due TO
the wholesale opposition manifested
in certain circles. Since then, how
ever, things have been warming up,
and it is now generally conceded
hat his nomination wi precipitate
one of the bitterest fights yet
waged in the senate.
Thus far no poll of the senate has
been taken with any degree of GER
tainty. Members of that body, with
few exceptions, have not been. prone
to discuss the subject with frank
hess. This is thought to be due in
part TO the cIiticism of Governor
bardint: III agricultural circles,
which group has taken a particular
dislike to the deflation policy, claim
ing it has depressed prices of farm
products. ,
A great effort is being made to
enlist the opposition of the agricul-.
tural bloc sohdly in the fight. and
while the position of all membefs
has not been divulged as yet there
is strong evidence that there will be