The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1933-12-01

sen'ndu' 'r' and Henry Morgen-
THAI, Jr., was appointed to succeed
him, thus becoming actual head of the
department during Mr.. WOodin's alb
sence. The inference drawn, and it is
inescapable, Is that now the treasury
will be dominated by inflationary pol
icies designed to raise prices for the
benefit of the farmer.
Mr.. Morgenthau, long close friend
and adviser Of Mr.. Roosevelt, is one of
the Cornell university group that in
cludes Prof. George F. Warren, Co
author of the gold buying plan.
So far as known Mr.. Morgenthau
has never advocated currency infia-
ton via the printing press. AS gov
ernor of the farm credit administra-
ton he has been more conservative
than many farm leaders would have
however, is for agriculture and his as
sociations are with men who have de-
veloped radical and inflationary ideas
for meeting present conditions.
The new undersecretary is farmer
and farm publisher. He owns a
large fruit and dairy farm in Duchess
county, New York, where he special
ICES in raising pure bred Holstein cat
tie and Red Macintosh apples. He
became interested in agriculture as
boy when he spent considerable time
on ranches in the West. On gradua-
ton from high school. he attended the
agricultural college of Cornell univer-
sity. to equip himself for scientific
farming. During the World war he
served as lieutenant, junior grade,
in the navy. His father was chairman
of the finance committee of the Demo-
cratic national committee during Will
sons first term and held numerous
diplomatic posts, including ambassa-
dor to Turkey.
Mr.. Acheson's retirement, according
to observers in the National Capital,
is likely to be followed before long by
the designations of others not in ac-
cord with the gold purchase scheme,
these including Prof. o. M. w. Sprague,
financial adviser of the treasury: Di-
rector of the Budget Lewis Douglas
and Gov. Eugene Black of the federal
reserve board.
Mr.. Woodin announced that he
would go to Arizona in search of re-
newed health and that, he would ac-
cept no salary from the government
during his leave Of absence The be-
lief is general that he never will re-
turn to his post.
ON DECEMBER the fascist grand
~ council will be convoked to dis
cuss the question of Italy's member
ship in the League of Nations. and in
formed opinion in Rome is that Italy
will withdraw from the League unless
France consents to the holding of
disarmament conference in Rome I'M
der the four-power pact that was en-
gineered by Mussolini. So far the
French have refused to participate
in any such conference outside of
Geneva and the auspices of the
League. Three italian newspapers al
ready have limited at the possibility
of the withdrawal of Italy. One of
them is the premier's Popolo d'Italia.
The others are the Corriere della
Sierra of Milan and the Gazetta del
Popolo of Turin.
In the effort to keep the disarma-
ment conference alive Hugh r. Will
son, American minister to Switzerland
suggested that the slate be cleaned Of
all previous proposals and the situa-
ton be examined afresh. The British
and some Of the Italians liked this
plan. but the French were aloof. Ar
thur Henderson presided at the meet
ing of the conference. but he has
threatened to resign II something def
mite is not soon accomplished.