Evening star., 1932-07-27
The Pomerene Appointment.


The appointment of Atlee Pomerene
to be a member of the Reconstruction
Finance Corporation, announced by
President Hoover last night, will be
well received throughout the country.
Mr. Pomerene a Democrat, is not only
well qualified for the post, but he also
has given the country valuable service
in the past. For o dozen years, from
1912 to 1924, he was a Senator Of the
United States from Ohio. In 1924 he
was appointed to an important post by
another Republican President, Calvin
Coolidge. He became at that time
special counsel for the Government in
the prosecution of the oil fraud cases
growing out of the Tea Pot Dome ex-
poSure. AS a lawyer and as a Senator
Mr.. Pomerene has an enviable reputa-
ton. He is the type of man that will
inspire confidence in the corporation,
which he is to head.
President Hoover's appointment of
Mr.. Pomerene to head the Reconstruc-
ton Finance Corporation places four
Democrats on the board of directors, q
majority. 1t was reported that the
President was seeking a Democrat for
this position, rather than Republican.
1t IS apparent that the President wants
no charge leveled against the corpora
ton that it is a political adjunct Of
the Hoover campaign for reelection,
making loans where it Is believed they
will do the most good for the Repub-
lican ticket. The accusation that the
corporation was being set up for po-
litical purposes has been made in the
past by some leading Democrats. The
President has cut the ground from un-
der their feet. It would be ridiculous
for opponents Of the administration to
charge now that corporation with a
board Of directors controlled by a Dem
ocratic majority was acting to bring
about the reelection Of President Hoo
yer.
As matter Of fact, the ReconStruc-
tion Finance Corporation was set up to
aid the country in its journey back
from depression. The President is ear
nestly and heartily desirous of having
the corporation play a big part In the
reconstruction Of industry and agricul-
ture. Wishing to get away from the pos
sible charge that the corporation after
all was only political weapon in the
hands Of the administration, Mr.. Hoo
yer recommended to the Congress when
it was considering the relief bill in re-
cent weeks that the law be amended so
that there would be eight members of
the board of the Reconstruction Finance
Corporation. with four from each of the
political parties, instead of seven with
no more than four from one political
party. At the same time he pointed out
that the chairman of the Federal Re
serve Board and the Federal farm loan
commissioner should be relieved of serv-
Ice as members of the board because of
their other duties. The Presidents
recommendation was not carried out by
Congress. but it did amend the law SO
that he would have an opportunity to
appoint new members of the board In
place of the head Of the Federal Re
serve Board and the Federal farm loan
commissioner
The President, in order to remove
the Reconstruction Finance Corpora
ton from the charge Of playing poll
tics, has appointed a fourth Democrat,
Mr.. Pomerene, to head the corporation.
Some of the Democratic politicians are
already saying that his purpose in CIV
ing the Democrats a majority on the
board is to make 1t possible to charge
that the failure of the Reconstruction
Finance Corporation and the relief act
are due to Democratic ineflciency, II
there should be failure. But that is
not the fact. These politicians fail
utterly 10 see that the main stake is
return of q measure Of prosperity to
the American people. It is for such q
return that President Hoover is striv-
ing. Mr.. Pomerene has patriotically
accepted an important post in the
service OF the country during an enner-
gency.