Evening star., 1933-05-08
The Political Mill
By C. Could Lincoln.


been revealed almost in toto. One or
two important measures still remain to
be laid before the Congress. including
the public works bill apd q measure
dealing With industry, particularly as
regards cut-throat and unfair competi-
ton, wages and hours of labor. It Is
q far-re6ching program. But the Presi-
dent may defend 1t on the ground that
the conditions in the country demanded
far-reaching cures. There still persists
reports that the Congress will be per-
mitted to adjourn before 1t has acted
upon q bank reform bill; that such q
measure would lead to long debate and
make an early adjournment of the Con-
gress impossible. If there is one thing
the Congress can afford to do in the
interest Of the people, 1t is to stay In
Washington now and put through leg
islation to strengthen the banking sys-
tenn. The need has been pointed to,
not only by President Roosevelt, but
also by former President Hoover. Yet
ish, this legislation has been blocked
time and agaiA. A bank reform bill
was put through the Senate at the last
Congress, but was allowed to die in the
House, pigeon holed In the committee.
1t does not seem likely that President
Roosevelt will abandon this proposal
for bank reform legislation, or that he
will agree to have it postponed for an
ether year.
Senator Carter Glass Of Virginia has
sponsored bank reform legislation for
years. He was the author Of the bill
which the Senate passed last session
and which was subjected to f1libuster
which delayed 1t greatly in the Upper
House. The bill has been opposed
because 1t sought to prevent the use ol
Federal Reserve resources and credits
in stock speculation; because it sought
to cut of the so-called "affiliates" of
that no banks of deposit have any right
to be doing, because it sought to e;te:S
branch banking. The ..taeA Oh INT
branch banking feature of the bill wa:
made to camouflage the opposition te
the other purposes Of the measure. pur.
poses which could not be attacked
openly. The subcommittee of the Sen.
ate Banking Committee, headed BY
Senator Glass, is to report the bill te
the full committee tomorrow. There
| Is plenty of time to get behind the
bank reform bill and to push it through
the Congress. unless there is really 9
desire to avoid such remedial legislation
r
The administration is looking to the
House today for support in its opposi-
ton to Senate amendment to the farm
relief bill, an amendment which woulc
endeavor to guarantee to the farm the
cost OF production" Secretary Wallace
of the nRna rfmont nf Auric,,lt,,ra ha.
strongly opposed this proposal. Oh.
viouSly the difficulties of seeing that al
the farmers Of the country obtain fol
their produce the cost of production
plus reasonable return for their labor
would be huge task to bite into. The
cost Of production contains many ele.
ments. Furthermore. 1t may cost one
farmer appreciably more to produce
crops than another, because of soil con-
dltlons or just because Of natural ability
to farm economically or expensively
Mr.. Wallace has no desire to be stacked
up against this proposal. which on the
face OF 1t seems entirely unworkable
Tor more reasons than one So the ad-
ministration leaders in the House are
aligned against this amendment and /,
Is slated to 60 out. The Senate adopted
the amendment over the protest of the
administration. Members of the Senate
have felt it necessary to assert their in
dependence now and then during the
present special session. However, if ths
House defeats this cost Of production
amendment by substantial vote, it Il
expected that the Senate will permit the
OIL to % through finally without it.
X 4 X
Before the Congress closes it is ex.
pected that the administration will get
Dehind bill for comprehensive plar
TO regulate or to assist industry K
regulate itself. Senator Robert F. Wag
ner'S Office has become a kind of clear.
ing house for ideas and suggestions fol
such a measure. It is still in tn,
formative stage, but it ccmtemplates q
central industries board, somethin,
like the War Industries Board Of tn,
World War days, with co-ordinators fo
various groups of industries Each
group Of industries would suggest plan
lor stabilizing production, employment
and wage scales. and for the elimina
| tion OF unfair competition by minori
ties In the industry. President Roose
velt, in his address to the American
people over the radio last night, clearl,
indicated the need for such Legislation
and described it as a plan for Gov
ernment cooperation in planning witt
industry, rather than Government
control"
Industry Is in a measure to fix it.
| own rules, and the Government step
in to see that these plans are carried
out. In order TO get at the unfair and cut.
throat competition Of industrial units
the present antitrust laws will have t,
be modified, the President pointed out
He said in this connection: Govern
raent ought to have the right and viii
have the right, after surveying anl
planning for an industry, to prevent
with the assistance of the Overwhelming
majority Of that industry, unfair prac
tice and to enforce this agreement By
the authority of government.
The So-called antitrust laws wert
intended to prevent the creation o.
monopolies and to forbid unreasonable
profits to those monopolies. That pur.
pose of the antitrust laws must b;
continued. But these laws were nevel
intended to encourage the kind of un.
fair competition that results in Ions
hours, starvation wages and overproduc.
ton"
These radio addresses of the President
W tklC PCOPlC dIC CcI CuCCIltc. Ado'
| nights address was the second tn,
| President has made since he entered
the White House little more than two
months ago. The first had to do with
his order closing the banks and tn,
emergency banking act passed by Con
gress. The President in both his ad
dresses to the people has been able tt
speak in clearly understood terms, max
ing the picture concrete enough for thu
people to understand. By this plan O
speaking over the air the Presiden
reaches many millions of people direct
| ly, in all parts of the country. tn.
radio, in effect, becomes a tremendou
weapon in the hands Of the Chief Ex
ecutive, If he wishes to use it as {
weapon. Imagine the effect of a speech
to the people, made in this way, II
which the President took to task mem
bers Of Congress who sought to ham.
string or delay important legislation
The effect on public opinion probabl,
would be enormous.