Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-12-24
CHADBOURNE SUGAR.
CAMP AIGN MAY WIN
Finartier Still Has Hope of
Bringing About Agreement
on Conservation.
BY JOHN F. SINCLAIR.

BY JOHN F. SINCLAIR.
Special Dispatch to The Star.
NEW YORK, December 24.-Thomas
L. Chadbourne has the reputation OF
being an able fighter Not long ago
he left New York with the determi-
nation of bringing about world agree
ment on the reduction OF sugar acre
age. He almost succeeded-almost'
but
Germany spilled the beans. She
refused to sign the terms laid down
at the Brussels conference. The meet
ing broke up. All the delegates nave
gone home-all except Mr.. Chao-
bourne. He will stay in Europe TO see
what he can do during the next 81
days. This week he goes to Berlin
for the purpose Of trying to work out
compromise with the German beet sugar
interests.
Here is the dificulty-Germany in
sists on exporting, during the five-year
contract period, a maximum OF 42O'0Oo
tons, for the first year, and 35O,OOO
tons for the following four years, Tne
Brussels conference thought a maxi
mum Of 100000 tons a year enough
for Germany. There was dltterence
of $4,000 tons for the r1ve-year period
between the German delegates and the
others, and Germany turned thumbs
down on the deal.
Even if the New York lawyer succeeds
in getting the federated German sugar
industry to accept some sort of COM
promise, he still has another big hurdle
left in Russia. But no one has ever said
Mr.. Chadbourne lacks the courage to
tackle anything.
Bratianu Family.
The death of Vintila Bratianu, former
prime minister of Rumania, brings to
a close the last of the famous Bratianu
family, which ruled RumanIa with an
iron hand for so years.
M Bratianu was minister of finance
in the cabinet of his brother Jon. And
before these two came TO power their
father ruled as premier for a genera
ton. These three practically ruled
Rumania from 1870.
Jon was much more successful than
his brother, Vintila, because he was
more industrious and more democratic.
Vintila was inclined to take things
easier.
When I first met Vintila in his Office
in Belgrade, he spoke broken English,
but had no difficulty in making his
meaning clear. In New York he would
have passed for prosperous Wall street
broker. He mentioned several times the
enormous prosperity of the American
people and was particularly intrigued
by the tall skyscrapers Of New York
City.
Il hope may have time, after leav-
ing public life, to visit America" he
said "I've always wanted to see it, es-
pecially since it. has become the leader
in world finance and business. But,
alas, that hope seems far away now.
There's too much to be done in build
ing up Rumania-too much for any Of
us to leave for some time"
But another Bratianu is on his way
up to political heights. That is George,
Carolist Liberals and formerly a COL
lege professor.
Wheat Prices.
Not during the lifetime of any basi-
ness man now living has the price of
wheat been so low. Think of Decem-
Der wheat at Winnipeg touching 81
cents last week.
In 1895 the low wheat average price
was around SO cents, and, with the ex-
ception of short time in 1894 and
1895, the figures today are the lowest
since 1855.
Last week the Department of Agri-
culture told the American people that
the total world wheat crop for 1880 will
be about 5000, 100000 bushels, includ-
ing the wheat from China and Russia.
With these two countries excepted, the
wheat crop is nearly 300,000,00 BUSH
els larger than in 1929. The Govern
ment figures are 1874, 100000 bushels
this years, as against 3,495, 100000 for
1929
The world depression, tied up with
the big increase in wheat production
land a big Russian increase cannot be
ignored, is responsible for the disas-
trouS drop in the price of wheat. This
sledgehammer blow has dropped many
farmers for the count of nine" and
some have been knocked out entirely.
Federal Reserve Policy.
Chairman McFadden of the Banking
and Currency Committee of the House
of Representatives is at it againl Not
only did he, in his recent speech in
the House of Representatives, attack
Eugene Meyer nominee for governor
ship of the Federal Reserve Board,
but he blamed the whole present de-
preston largely on the stalemate which
has resulted from the Versailles treaty.
According to Chairman McFadden,
''the policy of the Reserve Bank should
be governed by the Federal Reserve
Board in Washington and not by one
of the IL coordinate banks" And he
would have Americas foreign affairs
handled, not by reserve banks, but by
the State Departmental dig at the
New York Federal Reserve Bank
The whole problem of just how far
the Federal Reserve Board in Wash
ington should have the power to ap-
prove or reject policies inaugurated by
any one of the IL Federal Reserve
banks is still a live issue, and Repre-
sentative McFadden is forcing the issue
upon public attention.
There is a question now as to whether
Mr. McFadden will be reappointed as
chairman of the Banking and Currency
Committee in the new Congress. He
was reelected to the House, and he
likes the job. Yet his political enemies
are legion-extending from President
Hoover, j. P. Morgan and owen D.
Young to many members of his own
committee.
I'D like to know just what the chair
man wants the United States to do; I
confess I don't know" said one mem
Der of the House Banking Committee
to this writer recently.
Perhaps Chairman McFadden will
make his position plain when Congress
reassembles after the holidays.
Copyright. 1880. by North American News
paper Alliance