Evening star., 1932-01-26

Announcement of the transfer OF
Gen. Charles G. Dawes from the post OF
Ambassador TO England to that of direc-
| tor of the Reconstruction Finance Cor
poration is followed by earnest express
sions of confidence. The selection Is
declared to have been the best that
could be made, while definite results are
expected from the work of giving aid
to business. The selection of Eugene
Meyer as chairman of the board also is
approved.
"The Reconstruction Corporation
plan" according to the Philadelphia
Evening Bulletin, already has made a
strong appeal to the Nation. Imple-
mented by such directing personnel
as the designation of Ambassador Dawes
and Gov. Meyer indicates 1t acquires
new effectiveness" The Chicago Daily
News holds that financial and business
interests will applaud the selection OF
Ambassador Dawes as logical and emf
nently fitting" and that his record
and international prestige should in
spire confidence in the institution whose
functions and activities he will deter
mine in large degree"
Mr.. Dawes" in the opinion OF the
New York Herald-Tribune, presents
the, fortunate combination Of profess
sional banker who also has had long
career In public life, while the color
and magnetism of that energetic per-
sonality are admirably calculated to
launch the new corporation upon the
wave of public confidence which it de-
mands for its success. That confidence
will be fortified by the fact that Mr..
Eugene Meyer is to serve as chairman
Of the board"
X X X X
GAS head of this corporation he is
one of those rays shining through a
cloud" declares the Ann Arbor Daily
News, observing that "he Is entrusted
with the task OF bringing back pros
perity" The Providence Journal be-
lieves that "if the President holds to
this high standard of selection in desig-
mating the other appointees, one may
feel confident that all that the cor
poration can reasonably be expected to
do in relieving the depression will be
done with q minimum of delay" The
Scranton Times concludes: Wherever
it is possible we may be sure that Gen.
Dawes will take short cut to reach an
objective. He will. we feel, set the
wheels in motion with very little delay,
and If the measure is as workable as
friends and supporters maintain then
Gen. Dawes will get the best out OF It,"
Gen. Dawes is an old hand" AYERS
the Akron Beacon journal. ''in this
business of lifting the national finan-
cial OK out Of the pit, Back in the
late nineties, when the country was still
suffering from the backwash of five
years of panic, he was chosen by Presi-
dent william Mckinley to be the Fed
eral Controller Of the Currency. AL
the measures then taken had for their
object the restoration Of public conf
dence. Runs ON the Federal Treasury
and the banks came TO halt with the
knowledge that the American Nation
would not abandon the gold standard.
Funds came out of boarding and back to
the banks. Pretty soon the mills be-
gan to reopen and the country was re-
stored to a prosperity that without
notable interruption continued until the
market crash of two years ago"
II X X x
Dawes and Stimson both have big
Jobs ahead of them, both will do their
best. and on their su"cess will depend
the highest hopes OF all America" says
the Houston Chronicle, referring Incl
Gentally to the sending Of the Secre-
tary Of State to Geneva for the dis
armament meeting. The Chronicle also
comments ON the selection for the
Finance Corporation: AS head of one
of Chicago's largest banking institu-
tions Gen. Dawes holds the respect and
confidence Of the banking world. Be
cause he is a Middle WeSterner and has