Red Lodge daily news combined with Carbon County news., 1931-12-24
WASHINGTON
SNAPSHOTS
Taken by the Helms News Service

Prospects of final action on
United States entry into the World
Court this winter faded rapidly
when the Senate Foreign Relations
Committee unanimously voted to
lay aside the resolution of rat
ification until the disposition of
pressing domestic questions. 1t
marked President Hoovers first
distinct defeat in matter of for
eign policy in this Congress.
100000
Congressional opposition to re-
vision of the war debts has head
ed the Hoover Administration to-
ward the alternative of allowing
the Allied countries to request the
postponement of payments as pro-
vided for in the debt-funding agree
ments. This was indicated by the
Under Secretary of State, when
questioned as to what the Admins,
u dtiOu WOulQ uo W pItNeIG IuI-
ther economic collapse in Germany
and Europe. He stated emphatically
that the Administration was not
considering the extension of the
Hoover Moratorium, as was report
ed from Basel, where the commit
tee of reparations experts is meet
ing.
representative McFadden, Repub-
lican of Pennsylvania, who de-
nounced President Hoover in bitter
terms for his part in the war-debt
moratorium negotiations has en-
larged the scope of his attack on
the debt suspension program to in
clude harsh censure of the State
and Treasury departments. APP
pearing before the House Ways
and Means Committee, which is
holding public hearings on the
moratorium measure, the former
chairman of the House Banking
and Currency Committee charged
that these two Government depart
ments deliberately withheld from
Congress information of foreign
commitments which have been
made and which, under the Con-
stitution, required the consent of
the Senate or of both houses"
100000
International financiers and the
part they may have played in the
present turbulent moratorium sit
uation in Congress will be placed
under the microscope of the Sen
ate Finance Committee. Charles E.
Mitchell, president of the National
City Bank of New York City, and
Thomas w. Lamont, of the J. P.
Morgan Company, international
bankers, have been summoned to
testify by Chairman Smoot. Sen
ator Smoot has promised fullest in
vestigation of charges made on the
floor of the Senate by Senator
Reed, of Pennsylvania; McKellar,
of Tennessee and others that the
so-called international bankers
were responsible for a "subtle and
dangerous propaganda for can
collation. of the war debts, will be
thoroly inquired into.
oooOooo
Three remedies for the economic
depression suggested by Senator
Wheeler of Montana in a recent
speech were: "First-An initiation
sufficient to enable the farmers
and other debtors to return their
loans on the commodity value ba-
sis on which these debts were con-
tracted. This may be brought about
by the reconciliation of silver or
by increasing the paper money or
possibly by initiation of credit.
'Second-Changes in our bank
ing laws that will give protection
to bank deposits and stabilize the
purchasing value of money.
''Third-By lowering our tariffs
so that the farmer and other un-
organized producers may be upon
an equal footing with the manu-
facturer and promote commerce,
goodwill and peace thruout the
world"