Evening star., 1934-12-24
POLITICAL Mill
By G. Could Lincoln.

The caustic criticism Of Senator
Glass. turned upon the brain trust. IS
II not new. However, the merry attack
Of the Virginia Senator upon the Fed
eral Reserve Board, now headed BY
Mariner Q. Eccles, and the Federal
Deposit Insurance Corporation, eharg-
ing that the recent fixing Of interest
rates which may be paid on deposits
by banks not members Of the system
was not warranted by law has aroused
new interest in the conflict. Mr..
Eccles mas been regarded In some
circles as entirely 100 progressive. Mr..
Glass has always been . stickler for
the law. He knows . great deal about
banking. In his letter to c. 8. Ham
lin, Q member of the Federal Reserve
Board, the Virginia Senator charges
that the brain trusters, with their
"sneers ut banking righteousness," are
intent upon bringing about practices
Of loaning money which win parallel
the practices resulting In financial
chaos Of Q few years ago. One para
graph from Mr.. Glass letter to Mr..
Hamlin indicates what he thinks Of
the professors" He said:
we seem, my dear sir, to have
reached . stage in public Affairs
where every little sub professor
l,r,,,~ht 81 VIZ ,hiorton hou.v>r d>~-
titute Of practical business acumen, is
supposed to know more In q fort
night about banking and financial
problems than the President Of the
United States, the seasoned ofhcials Of
the Federal Reserve system and mem
bers Of Congress who for many years
have been keen observers Of banking
practices and intimately identified
with financial measures.
The recent elections, giving the
Democrats great victories throughout
the country, have been interpreted as
an indorsement Of the New Deal and
the brain trust, as well - an indorse-
ment Of the President by the brain
trusters. OF that there seems no
doubt. What Congress win do about
1t all when 1t arrives January ; re-
mains to be seen. If the brain trust
ers are able to persuade the President
to adopt their ideas and their legisla-
tive proposals, undoubtedly their ideas
and proposals will get q hearing that
otherwise could not be had for them.
What the Presidents course will be
in this connection Is also to be re-
vealed. At times 1t looks as though
the influence Of some of the brain
truSters had waned. But at other
times the White House appears to be
taking as much stock in the professors
as ever before.
The reception at the White House
accorded the recommendations for
recovery submitted by the repre-
sentatives Of American industry was
not exactly cordial. Yet the Pred-
dent has 10 far refrained from train
ing his guns on the proposals. The
caustic criticism Of the plans has
come, instead, from Harry l. Hop
hns, Federal relief administrator
and others In the administration. No
administration relishes recommends
tions which may seem to be at
variance with the plans which it has
been advocating. The Roosevelt ad-
miniStration Is no exception to this
rather human rule. However, the
President has repeatedly said that he
was trying out various measures In
an experimental way and that II they
did not make for improvement, real
and permanent, he gave the impress
sion that they would be abandoned.
The proof Of the pudding, after all,
is in the eating. In Just SO much as
the New Deal laws bring about re-
covesy will the people finally approve
them. The recent elections, with mil
lions Of voters on relief rolls and be-
ing cared for by the Federal Govern
ment, were scarcely o test Of laws.
They were the answer Of people who
believed that If they opposed the ad-
ministration their relief funds would
be cut on.
The representatives Of industry are
looking to the Presidents annual
message to Congress, which will be
delivered to that body probably in
person by the President on January
4, for some real clue as to what the
Chief Executive has In mind. It had
been understood that the President
would deliver another Of his fire
side" talks to the people Of the coun-
try over the radio in advance Of the
meeting Of Congress. But this plan
seems to have been given up. What
they are hoping is that the President
will give . clear indication that he
and the administration are not going
further to the left" that there Is to
be a real attempt at slowing down ex-
penditures by the Government and
that there will be . distinctly deaf
ear turned toward currency imitation
plans.
win the ear Of the White House and
the brain trusters, are intent on carry
ing their recommendations to labor
and to the farmer. They are plan
ming conferences with representatives
of both. Whether they can get far
with either the representatives of
labor or the farmer is q question.
Organized labor has been enthusi-
astically in favor of the New Dealers
up to date. The question which labor
eventually may have to decide for it
self, however, is whether it prefers to
work for the Government or for pri-
vate employers. If the Government Is
going into industrial enterprises, into
the manufacture Of many things tn
addition to electric power, private in
dustry will have little chance to COM
pete.
4 i
One group Of members Of the
old Congress, now about to pass out
Of the picture, may view the future
darkly. They ale the lame ducks"-
lame ducks who will not remain on
the Governmen. pay roll as lame duck
Congressman have in the past. Their
pay is cut Oh when their terms ex-
pire in January. When they were
elected in 1892 it was for two-year
terms. But the ratification Of the
Norris amendment to the Constitu-
ton, doing away with the old short
cocciorc nf he~