The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-01-07
TARIFF BILL IS
DENOUNCED At
HOUSE HEARING
Measure Strongly Opposed
by Treasury, Mills
Tells Committee.
CALLS IT INCONSISTENT
Five Year-0Id Warning by
Kellogg Revealed at
Foreign Loan Quiz.

By United Press
WASHINGTON, Jan. ATTACK
on the Democratic tariff revision
bill was launched before the house
ways and means committee today
with Ogden Mills, undersecretary
of the treasury, voicing the admin
istration opposition to the projected
measure.
Mills admitted he represented the
White House ':in general way"
Committee Chairman Collier had
called for other officials to attend
the hearing, but neither Secretary
of State Stimson nor Secretary Of
Commerce Lamont appeared.
"The treasury department. does
not approve of this bill and sees
no occasion for it," Mills told the
committee. ct is inconsistent be-
cause it takes away from the Presi-
dent the power to adjust rates and
then gives him power to negotiate
with foreign countries for rate ad-
justments."
Strips Authority
Mills referred to the section Of
the bill which would strip the Presi-
dent of his authority to raise or
lower rates so per cent on recon-
mendation of the tariff commission.
This, he said, would freeze the tar
iff rates between general reviSionS
by congress and make the tariff
commission an ineffective body"
Mills said in reference to the
proposed permanent international
conference, that the League of Ma
tons already has had such con-
ference and that other nations
would not desire to participate in
another.
IF it is the intention TO change
rates, it is the function of con-
gress to do it." Mills asserted. He
also objected to the provision au-
thorizing the President to negotiate
reciprocal tariff agreements with
other nations, a section which
Democratic leaders have decided to
eliminate.
Makes Gandhi Wisecrack
IF the United States went into
an international tariff conference,
it would come out of it with less
clothes than Mahatma Gandhi
wears" commented Representative
Crowther Rep., N. ". ST think
even the safety pin would be miss
ing"
Meanwhile, the senate finance
committee investigation of foreign
loans gathered impetus with a
statement from the state depart
ment that it never had passed on
the security Or merit" of foreign
loans and revelation of warning
made in 1926 by former Secretary
of State Kellogg to American bank
ers.
Kellogg's warning was in a let
ter which was read to the commit
tee and which urged American
bankers to exercise the greatest
care in making loans to Germany"
Points Out Burden
The letter pointed out the heavy
burden of debt Germany assumed
in paying PREPARATIONS and suggested
that bankers would do we'll to in
quire into priority of claims before
making loans.
Considerable money was loaned
Germany after the date of the let
ter, which contained the statement
that the department has been ad-
vised that the German federal au-
thoritieS themselves do not view
with favor the indiscriminate
placing of German loans in the
American market, particularly where
the borrowers are German munich
palities and the purposes are not
productive
Secretary of Navy Adams, the
target Wednesday in the house for a
demand that he resign because of
diSloyalty to the President in eSpou-
sal of the Vinson warship building
bill, today said he could not indorse
the Hale bill for building the navy
up to the London treaty limits.
Hale Questions Him
Il have submitted this bill to the
department" Chairman T-ale of the
senate naval affairs committee told
Adams, land I suppose you forward
ed it to the budget bureau. Have
you had a report from the budget
Officer"
I've had no report" Adams re-
piled, adding under direct queS-
tioning that lie could not indorSe
the measure.
Hale inserted in the record today
a comparative table which, he said,
showed the United States has many
more ships "over age" than other
treaty. powers.