Red Lodge daily news combined with Carbon County news., 1933-03-29


were subsequently firmly estab-
lished in Republican policy as
well as by Chief Justice Hughes
when secretary of state. There is,
of course, every reason why, with
the passage of so many years, this
policy should be re-explored from
time to time to determine wheth-
er its foundations are still good
and valid as they were sixteen
years ago, or whether changes in
Soviet policy or American opinion
warrant revision.
Scarcely a day passes without
record of some post of the Amer
lean Legion voting to stand by the
president, in revising the pensions
and allowances of veterans. In
many cases this represents a re-
versal of previous action, SEEM
ingly official. As has been re-
peatedly pointed out, many mem
bers of the American Legion new
er approved of the demand for
immediate payment Of the sold
iers' bonus, or of resistance to
every plan for eliminating pay
ments for disabilities in no way
connected with war service. But
they We're outvoted in the various
posts. Now, however, this ap-
pearance of a united front is dis
solving. The immense support
given by the country to President
Roosevelt as he set about saving
millions from the budget allow
ances for the veterans has made
many Legionaires weary of SEEM
ing to antagonize, in a selfish
spirit, the great majority of their
fellow countrymen. Hence the
change of attitude on the part of
one post after another.
After spending the day in dis
cussing all aspects of the banking
situation, the senate passed, with
only slight change, the Steagall
bill providing for direct loans by
Federal Reserve banks to State
banks not affiliated with the re-
serve system under certain con-
ditions. The bill, as it passed the
senate, also contained the So
called Buckley amendment which
authorized the Reconstruction FL
nance corporation to lend money
to State banks being reorganized
on their capital notes or deben-
lures where the state law attaches
a double liability to preferred
stock.
Frances Perkins, Roosevelt Sec
rotary of labor, upheld before a
battery of congressional critics
the plan of her chief for putting
thousands of unemployed to work,
at nominal wages, on conserving
forest lands. She emphasized that
this was a relief rather than an
unemployment measure. "These
are not jobs, in the true sense of
the word" she told the members
of senate and house labor commit
tees, meeting in joint session. But
the plan, she maintained, would
preserve the self respect and
morale of thousands who now are
Giving by their wits" in large
cities.
Although organized labor is as
sailing the bill on the theory that
it would lower wage levels, and in
spite of efforts Of several mem
bers of the two houses to find de-
fects in the measure, Miss Perk-
ms materially strengthened the
support for it among the senators
and representatives who heard
her. Some of them said later the
passage of the bill was virtually
assured and that the argument of
the secretary of labor had been an
important factor in removing con-
gressional doubts.
The groundwork for a great
$1,000, 900, 900 plan to refinance
farm and small home mortgages,
in an effort to relieve debt bur-
dens, was laid at a White house
conference in which President
Roosevelt conferred with farm and
finance leaders of the senate and
house and farm board experts. AL
though the details of the legisla-
ton are yet to be finally agreed
upon and drafted, the farm mort
gage bill is expected to be ready
in a few days. 1t will be sup
ported by the president in a spec
ial message to congress as the
next item in his emergency legis-
lative program.
Vice President Garner received
his 10th gavel and the 26th since