The Washington times., 1929-10-30

The most spectacular Crash tHdI
has been witnessed since the days
of Jim Fiske ami Jay Gould, per-
haps, came in the great money
mart of New York; stocks that have
been steadily climbing upward for
more than a year made a dizzy
nose.dive to the earth; the specu-
lative boom that has made the
stock exchange a focus OF fantastic
financial adventure, mad Mis-
sissippi Bubble" show ever since
the Great Bull Movement started
in 1926, came to a dreary and
ingloriOus end.
Through 1t all the legitimate busi-
ness interests of the country re-
mained unaffected: there was no
suggestion of a commercial panic.
The major nerve centers of the
Nations business life were not hurt.
While this was Wall Streets
contribution to world history dur
ing the week, in the Senate
another rather dismal chapter Of
lobbying was being written. AS
the story seeps out, 1t seems more
certain than ever that the Hawley-
Smoot tariff bill is doomed.
The leading actors in this week 8
lobby sensations were Senator
Bingham of Connecticut and Joseph
p. Grundy, of Pennsylvania, the
"granddaddy" of all the tariff
lobbying, who believes that a high
protective tariff should be written
into the constitution.
Here are some typical Grundy-
isms.
The Western States should not
have two Senators. They are un-
important commonwealths, with
small populations. 1t is shame
that a great and powerful State
| like Pennsylvania, which pays
more money into the Federal Treas
ury than all the mountain States
put together, should not have
greater representation in the Sen
ate than they have"
"The Eastern industrial States
ought to dominate in Washington,
because they are the States in
which the wealth and the popula.
tion of the nation chiefly lie"
IF l had my way. l would not
let any Western Senator block the
enacting of a high protective tariff" :"
Sentiments of this type helped
to fray the nerves Of Congress this
week, and helped to place the pro-
gressive block more hopelessly off
the Administration reserve than
ever before.
Joe Grundy was sufficiently
hard boiled to face such men as
Senators Borah and Caraway--both
Of the West-and tell them what
he thought Of their political con-
duct. This was done In the give
and-take Of committee hearing
On the floor OF the Senate,
another high-tension dram took
place when Senator Bingham OF
Connecticut, accused OF indefen-
sible lobbying practices, made a
bitter speech in defiance Of his
enemies and forced Senator George
w. Norris, chairman of the Senate
Judiciary Committe, to introduce
resolution of censure aimed a
him.
II the Norris resolution is
adopted. it will be the first time
the Senate has censured one of
its members in 27 years.
So deeply interested is President
Hoover in the cause OF naval
armament limitation that he
markedly curtailed the celebration
OF Navy Day yesterday.
AS a matter Of fact, his proclama.
tion did not mention Navy Day at
all--it merely called attention to
the fact that October q liz the birth
day of former President Theodore
Roosevelt and lauded his achieve
| ments in the White House.
The Presidents act indicated un-
mistakenly that he looks forward
to the coming conference in London
aA an epochal event in the evolu-
tion of the world peace movement.
Premier Ramsay Macdonald Of
Great Britain sailed for home"
this week. ending his three week
trip across the Atlantic. In Canada
he received a welcome fully as
heart.warming as that given him
in the United States.
One of the featu~es OF his Ca
madam trip was his speech to the
American Federation of Labor con.
vention in Toronto. For long time
he declined to address this con-
claVe, because the A. +. OF l.. and
the British Labor Party have been
strongly at odds on matters OF
policy; but he finally relented, and
| delivered a peace speech which was
one Of the oratorical highlights of
his Sotourn here.
The death of Senator Theodore E.
Burton on Monday removes a dis
tinguished figure from American
public life. Two generations of
Senators have known him-there
was an interregum of nearly Is
years between his two terms of
service in that body. He was n
years of age and first came to Con
gress in 1888. His ability and wide
knowledge in the realm Of foreign
affairs and finance won him q pos
| ition in Washington of wide influ'
ence, despite the fact that he rarely
appeared in the limelight, and was
never grasping of political power.
Eduard Daladier, radical Socialist
| has succeeded Aristide BRAND as
prime minister of France, and the
French cabinet crisis has been
solved, temporarily at least.
From an American point Of view
French politics present a more OF
less of a puzzle picture. BRAND. fol
instance, the deposed premier. will
continue as foreign minister in the
new cabinet.
There was an unsuccessful at
! tannnt to assasSinate the ItaliaT