The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1933-03-24


Carries Out eminent as though
His Promises he intended to &C
complish something.
Heads are falling everywhere; new
faces are appearing with suddenness
that is quite unusual even after a
change in administration, and plans
are being formulated that are an
nounced as definitely in the direction
of money saving in the cost OF govern
ment.
1t must be stated, however, that the
appointments thus far, for the most
part, have been generally recognized
as ''plums." They are the higher-ups.
Some animosity is being aroused, and
it is possible that it will spread to con-
gress where politicians want, and are
counting upon, their share of the pie.
Riffs may result. At any rate, the
President has moved boldly on his APP
pointments, thus far, just as he moved
with holiness in dealing with the bank
ing crisis.
Attention should be called, in pass
ing, however, that in the banking
crisis, Secretary Woodin relied to an
amazing extent upon the advice and
cooperation of the men who had pre-
coded him In charge of the treasury.
Ogden L. Mills, former secretary, has
participated in all Of the many confer
ences; Arthur A. Ballantine, former un-
der secretary, has been at Mr.. Woodin's
| elbow throughout the crisis, and John
| Douglas, the fiscal assistant secretary.
has been on the job night and day.
Respecting this sharing of the labor,
( there is gossip around Washington that
| Mr.. Mills and his associates mao
| worked out the program for closing the
| banks and for their reopening on a
| new basis, Just as has been done, but
| that President Roosevelt, while still
| President-elect, declined to sanction
| the plan. None knows, OF course
whether this is true 1t can be dis.
missed, therefore, as being among the
things that are most interesting, If true
The new administration, apparently,
is going to have nothing to do with crop
l
No Crop Price Henry Morgenthau
Stabili zation Jr., who Is the new
chairman Of the Fed.
eral Farm board, is dead set against it
He wants to get the government out
of the field as quickly as he can. And
with the power he is understood to
have from the hands of the President
there remains little chance that Mr.
Morgenthau contemplates indulging In
any operations such as the previous
Farm board employed to keep prices
up.
It might be said in connection with
Mr.. Morgenthau's appointment, that
eventually he will blossom out as the
agricultural spokesman for the Presi.
dent. He may even overshadow the
secretary of agriculture, Henry A. Wal
lace. That, of course, is guess. but
! President Roosevelt wants to amalga'
mate all of the various agencies having
to do with farm credit and make them
function as one unit. Supervision OF
this work is slated to be placed in Mr..
Morgenthau's hands, and it takes nc
stretch of the imagination to foresee
the trend of events.
There ought to be some benefits OBJ.
tainable by the merger which Presi'
dent Roosevelt has planned. One good
result is readily discernible: under the
plan. the farmer having dealings with
the government over federal farm
loan, a loan to cooperative, seed OF
feed loans or any of the other numer
ous types of business concerning cred
II, would be able to go to one regional
Office and take care of one proposition
or several, If need be. 1t would have
the effect of concentrating that phase
of the farmers relationship with the
government.
OF course, one of the reasons why
). the Encouragement was planned, it was
stated, is to effect savings of govern
!. ment money. The President thinks
such an organization will not be 81
expensive to operate. But it remains
to be seen whether this will be true
The experienced observers In Wash
ington take the position that 1t is cas-.
To see where savings can be made IL
eliminating useless or surplus agencies
of the government. Yet, it is not 81
easy to attain those savings. Payroll
, In government Offices, once established
nearly always have a tendency to grow
and the politicians proceed to FL
/ places as fast as they can and t
create new jobs where possible. Thu
. result is, and it applies to the proposed
{ unifcation of farm credit agencies a
: well as others, those now on the pay
: roll are more than likely to stay. How
. they will be squeezed off is something
/ that none here have been able to an
J swer to my satisfaction.
] The use Of clearing house certif
J Gates scrip, in so many of tn
! larger cities in providing medium o
: exchange during the worst of the bank
: ing crisis recalls that 1t has been 2
years since that sort Of money" ha
been employed anywhere in the Unite'
States under the sanction of the fed
: eral government. 1t was in the PAM
of 1907 that clearing house certificate
] made their appearance, but they wer
! even then not in wide use. New Yorl
2 city used many of them, but they wer
] employed to effect transfers betwee
|. banks and large users of money NOR
2 than for ordinary transactions. In
deed I have met many persons VIII
: were in the thick of that panic In Ney
D York city and who never have see
, piece of scrip.
Many persons, it seems, do not know