Evening star., 1933-09-25
WASHINGTON OBSERVATIONS
BY FREDERIC WILLIAM VILE

To initiate or rot to inflate-that Is
the question, and one which will have
the right of way in Washington until
further notice. Even N. r. A.. for more
than three months sole occupant Of the
center Of the Federal stage. will relin-
quiah the limelight until the admins
tration's monetary policy is finally de-
termined. In a very definite way N. r.
A. and imitation are correlated 1t Is
tacitly agreed that if the recovery pro-
gram had already made the giant
strides overconfidently expected in
many quarters, President Roosevelt
would not now be perturbed by de-
mands for price raising through the
doubtful expedient of deluging the
country with printing press money.
Every one at all qualified to reflect
the Presidents state OF mind depicts
him AS still an uncompromisingly sound
hard money man. He was elected on
a Democratic national platform declar-
ing explicitly for "a sound currency to
be preserved at all hazards" Few
Presidents have evinced a more rigor-
Gus adherence to platform pledges than
Franklin Roosevelt. On his record, the
prediction is justified that he will sane
ton currency imitation only as a last
desperate resort. and when every other
recourse has failed. At the moment.
widest possible expansion Of banking
credit Is the weapon by which the
President lays the greatest store.
X *
All the extraordinary relief measures
announced by the President during the
past few days manifest his anxiety to
steer clear of the initiation shoals. The
inf lot oil 10 CT
week found F. D. r. adamant His
answer to its pleas was to trot out three
seperate new plans to set dollars rolling.
They are all inflationary in effect, but
none of them entails any debasement OF
the currency. Before President Roose-
welt consents to that, the best-infOrmed
authorities are convinced, an executive
of his demonstrated courage and ver-
satility may be depended upon not to
haul down sound money colors while
there is the slenderest chance Of keep
ing them flying Many monetary schools
of thought have access to the Executive
ear at the moment-open, as 1t always
is, to counsel from any responsible quar-
ter. But there is ground for believing
that the anti-inflation element to date
is the prevailing influence at the White
House.
Even If imitation is averted during the
next three months, the real test OF
Roosevelt leadership will be just around
the corner, for the President in January
will have Congress on his hands. As
Senator Thomas count of noses shows
both House and Senate reek with inf1a-
tionary sentiment. Unless times are
vastly mproved-especially il higher
ho
farmers in better humor-mandatory
imitation today ranks as almost a fore
gone conclusion. Once 1t Is actually
threatened, F. D. r. will have need for
all the political skill and strategy he
possesses. Eventually his problem might
be to prevent the overriding OF a veto.
Meantime, N. r. A. Is his stanchest
ally If recovery Is marching with
seven League boots by Christmas. the
situation will be far less favorable from
the infiationists' standpoint than 1t Is
now
On November 13. the seventy seventh
birthday of Supreme Court Justice
Louis D. Brandets, the Princeton Uni
versity Press Is to publish "BrandelS:
Lawyer and Judge in the Modern State, !"
by A. r. Mason, professor of politics at
Princeton. The book considers chiefly
the public welfare activities, the ideol-
ogy and constitutional principles OF
Justice Brandeis, and shows how the
views he has long expressed in dissent
have now won approval in law-making
bodies, in the press and in the decisions
of the Supreme Court itself.
X
Representative Hamilton Fish, Repub-
lican, of New York, archfoe of Com
munism and all its works, views with
undisguised alarm the prospect Of
American recognition of Soviet Russia.
He links it up with present-hour con-
ditions in Cuba. In statement just
issued, Representative Fish says: IT
President Roosevelt recognizes Soviet
Russia, as indicated in the public press
all hell won't stop the Communists in
Cuba from sovietizing that country at
our very doorstep" Col. Frederick
Palmer, writing from Havana. states
that it is the Cuban Communists am
bition to sovietize the island as . model