Evening star., 1933-08-07
The Political Mill
By G.. Could Lincoln.

| StandStill in the face of the demand of
the country that the Roosevelt recovery
program be given chance to make
good. Democratic politics in several OF
the States Is quite brisk Take, for eX-
ample, the case of West Virginia. There
a senatorial election is to be held in
| November, 1884, for the seat now occu-
pied by Senator Hatfield, stanch Re-
publican. In the last senatorial contest
Senator Nicely, Democrat, won handily.
With the prestige of the Roosevelt ad-
ministration to help them win next year,
several of West Virginias other Demo-
cratic sons are aspiring to the nomina-
ton against Hatfield. There is former
Senator Chiffon, who represented his
State in the Upper House during the
| Wilson administration. Mr.. Chiffon al
ready has accepted with every aspect
of gratitude the suggestion made by his
admirers that he run again. And from
the appearances today, Chiffon and
Nicely will form an alliance for the pur-
pose Of nominating and electing Chiffon
to the Senate in 1884 and of renominat-
ing and re-electing Nicely to his present
seat in 1886.
Such an alliance would make 1t very
difficult for other wouldbe candidates
for the Senate on the Democratic side.
| There Is the Governor, Kump by name,
who is said to have had designs on Sem
ator Neely's Senate seat in 1896. The
Governor might find it tough job to
go up against a combination of the
Chiffon and Nicely forces In the Demo-
cratic primary, particularly should Chill
ton be successful next year and win over
Senator Hatfield. There are still other
/ &c to1
nomination next year. among them for
mer Gov John J. Cornwell, Representa-
tive Joe L. Smith and Gray Silver. Mr..
Silver, the farmers friend in season and
! out, has told friends that he intends to
get into the senatorial race next year.
But q year ago he was talking about
being a candidate for Governor, but
gave up the plan. While Smith would
! like to have the nomination, it is ex-
pected that he will not bacome can
didate If Chiffon throws his hat def
nitely in the ring but will seek to have
| himself renominated for the House.
Chiffon is newspaper publisher in his
home State. His newspaper Is the
! Charleston Gazette.
! x X 4
What Senator Nicely had to say about
Chiffon in a statement issued several
days ago to the West Virginia press is
up to the Nicely style, a style which has
held the Senate in a state OF amaze
ment. Here is what the Senator said
about his prospective colleague:
Thomas Grey required seven years
to write his elegy, In a Country
Churchyard and it would require me
seven weeks to express my opinion OF
my beloved friend, Senator Chiffon.
u, he fn
my admiration and appreciation Of the
Senator.
William Chiffon is one Of the great
est statesmen West Virginia has ever
produced. His knowledge of the phi
losophy Of government is astonishing
His mastery of the science of money
rivals that Of John Stewart Mill. His
record as a United States Senator is
surprisingly brilliant. His life has been
symphony of service to his State and
sacrifice for his innumerable throng
of friends, who love him as truly as
Damon loved Pythias. Will Chiffon has
been the morning star Of West Vir-
ginia's democracy for 40 years. The star
is still ascendant 1t grows brighter and
brighter every hour. The people of this
State will elect Franklin D. Roosevelt
Democrat to the United States Senate
in 1884. If Senator Chiffon is nomi-
mated in the primary his majority in
the general election will be $4,000 or
more"
It will be noticed that Senator Nicely
put in word for President Roose-
Mr.. Nicely bucked the administration
during the special session of Congress
particularly when it came to cutting
down the compensation of the veterans
In the drive for economy. Bucking
Franklin D. Roosevelt hasn't proved a
very good way to popularity out in the
States Senator Nicely and other recall
citrant Democrats have found So
some Of them are clinging now to the
Roosevelt standard.
There was one West Virginian. or for
mer West Virginian, who had the bet
ter of the President in the special ses-
sion last Spring Lincoln L. McCand-
less, Delegate in the House from Ha-
Waii. who claims Parkersburg as his home
on the mainland. although he has long
been resident of the islands. President
Roosevelt sent down to Congress a spe-
cial message and bill granting him
authority to appoint as Governor OF
Hawaii nonresident of the islands
The people of Hawaii were up in arms
over the thing. and SO was McCandless
And in the end the President failed to
have his way, and the bill was not
passed. The only request of the Presi-
dent, by the way, to be turned down by
the overwhelming Democratic Congress
So when McCandless returned after the
close of the session to Hawaii he was
received with bands and a great crowd
of appreciative islanders.
The governors of the New York Stock
Exchange apparently have seen the
handwriting on the wall. They have
issued new regulations providing that
there shall be no trading on margins
where the margin is less than 80 per
cent of the value of the securities when
the investment is for upwards of SIS 900
and not less than so per cent where
the value is less than $4,000. They
have heard the growls against the gam
bling that sent the stock market into
another tail spin a week or two ago
and the threat to legislate all marginal
trading out of existence. It seems SO
clear that the purchase Of stocks on
margin Is merely for gambling pur-
poses that the stock market would not
have a leg to stand on if the issue
was brought up in the Congress. But
it has been urged in the past that
| 10 CllC lllc VI lIdue dIlU
that without Speculation" the market
could not exist. This has been the
chief defense of trading on margins
The curtailment Of margin privileges
and the demand for such extensive
margins may make the turnover on
the market much smaller, but certainly
it is likely to prevent such terrible
fluctuations, either up or down, as have
happened recently
X Il
The country is pretty well fed up
with the antics of the stock and grain
markets in this country. If they don't
reform themselves there Is going to
be new deal for the exchanges The
President has promised as much. II
would appear that the efforts of the
governors Of the exchanges, both the
New York stock market and the Chi
cago wheat pit, to bring about reforms