The Western news. [volume] (Libby, Mont.) 1933-current, 1934-06-14

farmer of this country, and the silver |
mining interests, the real trouble be- |
tween President Roosevelt and Secre- |
try of the Treasury Morgenthau on |
the one hand and the silver advocates |
on Capitol Hill on the other, WAS the
proposed tar on silver profits
Not q peep about this came out dur
Ing the long drawn-out negotiations.
In fact, the issue that was making all
the trouble did not become public
property until the President sent his
message to congress stating what leg
islation was desired. Even that Day
no emphasis was put on the proposed
so per cent tax by the silver senators
and members of the house. But the
underlying idea became just a little
bit obvious when amendments we're
introduced to strike this section from
the bill.
All of which Is highly Interesting
when 1t Is realized that Mr.. Morgen-
THAI has been cunning for the alleged
silver proiteers for these many
months. 1t will be recalled that a list
of those holding silver was demanded
of all brokers, and finally furnished
to congress with fanfare of trum-
| pets. Then 1t became apparent that
no real names of consequence-so FAR
| as the outstanding advocates OF doing
something for silver were concerned
| were on the list.
The answer has puzzled many. 1t
Is really quite simple. The fact is that
| the warning went out at least month
prior to the demand for the list OF
holders of silver. There was quite
| scurrying about, as matter OF TACT,
on the part OF certain gentlemen VINO
held silver and had been rather loud
In demanding that something be done
by the government to boost Its price
They Smiled
Now far be 1t from anyone to
charge that some of the senators ana
members of the house proceeded to
buy back the silver they had sold, or
possibly more, In the names OF friends
names which meant nothing when
they appeared on the now famous list.
But 1t Is at least interesting that
there was so much discussion between
the national legislators desiring silver
legislation and the President and hr.
M0rgenthau about this tax, but that
on emerging from the conferences no
one thought to mention to the report
ers that this was one OF the chiel
stumbling blocks.
Another interesting point Is that
when the group OF silverites came OUT
OF the White House on the day OF tho
final agreement, they seemed In hlkn
good humor about the results. lei
when they explained what had been
agreed upon to the waiting newspaper
men. the latter were puzzled as to
why the slverites had been so pleased
The whole thing was permissive, the
reporters pointed out, whereas every
one knew that neither the President
nor Mr.. Morgenthau was really In =
vor OF doing anything.
, The silver men were asked why the.
/ were so pleased. Somewhat take
! back, they Insisted that In honor th
, administration would have to buy Sill
yer.
But again nothing was said abou
{ the proposed tax
i 1t now develops that at the parnc
: ular conference which concluded tn
> discussion nothing was said about tn
/ tar, from which the silver men con
5 cluded that the administration ma
D dropped this Idea so Objectionable {
: them, and would be content for IN
I treasury to profit from the regular II
k come taxes. When the messag
a reached the Capitol, with Its provisio
for a so per cent tax on all silve
Y profits, the faces of the silver nae
4 grew longer perceptibly. And In da
or two came the proposals to eliminas
e this provision.
e One is at least permitted to VOL
a der