Evening star., 1933-10-20
MOVE TO CUT HIGH
SALARIES PRESSED
Some Senators Think Con.
gress Can Regulate Pay of
Heads of All Businesses.
BY the Associated Press.

BY the Associated Press.
Further legislation to slash salaries Of
big business executives was advocated
by a group Of Senators today as the
Federal t. de Commission awaited re-
sponses to its request for salary data
from 1000 corporations.
Motivated largely by disclosures IN
the Senate Wall Street inquiry that as
high as half million dollars have gone
to one financier in salaries and bonuses
for one year-and that period during
the Representatives, Senators now in
Washington are almost unit for do
ing something to keep salaries down.
Some feel Congress can go all the
way and regulate the pay Of heads OF
all business, public and private. Most
however. agree the restrictions could
be applied only indirectly and then only
to those corporations doing business
with the Government.
Publicity on Pay Advocated.
Senator Couzens, Republican, OF
Michigan, one of the Senate's wealth.
lest members and member OF the
Stock Market Investigating Committee,
said he believed continuous publication
Of salaries would tend to keep them at
level more commensurate with serv-
ices rendered.
IT believe salaries Of corporation Of
ficers should be a matter of public rec
ord because Of the inability Of millions
of stockholders to secure detailed IN
formation as to the conduct Of the cor
porations," he told newspaper men.
"As long as they 60 to the public for
money, the public is entitled to know
what is done with It,"
Senator Fletcher, Democrat, OF Flor
ida. chairman of the Senate Banking
Committee and its investigating sub
committee. said "too much money Is
being paid for doing nothing"
Its terrible the way these corpora
tions rob the people" he asserted. I'VE
can perfect existing legislation to apply
It the same way to all persons getting
relief from the Government. I don't
know how we can regulate State cor
porations by direct legislation"
White Silent on Plan.
Senator White. Republican, OF Maine
declined to commit himself on wnal
legislation he would favor, If any. but
said he doubted the power OF Congress
to "legislate directly affecting the sal
aries of officers OF private corpora
tions."
However" he added. "it Is probable
that Congress indirectly has the righ,
to put limitations upon salaries In
concerns borrowing from the Govern
ment."
Senator Black, Democrat, OF Ala
bama, chairman Of committee IN
vestigating salaries OF steamship COM
panies in connection with an inquiry
into ocean mail contracts. said con-
Germs that borrow from the Govern
ment should be required not tt
squander the funds in large salaries
to officers.
Legal Difficulty Seen.
"It is my own belief" Black said
"that Congress has the right com.
pletely to regulate interstate commerce
and to pass legislation against any
practice that might impede the fret
flow Of interstate commerce"
Senator Adams. Democrat. Of Colo.
RADIO, said any effort to limit stipend!
in the five and six digit class through
direct legislation most likely would rur
into legal difficulty
Senator McCarran. Democrat, o.
Nevada, favored restriction of ex.
orbitant salaries of all corporation
heads where such corporations per
formed public or quasi-public servic,
or where such corporations are tn,
recipients Of public funds or aid"
Senator Clark. Democrat, Of Missouri
said he would vote for further restric
tions. but he believed they could b.
imposed only indirectly, unless the Con.
stitution were amended.