The Western news. [volume] (Libby, Mont.) 1933-current, 1934-12-20

is most interesting fHPiew or the TACT
that In this fight, which so angered
. them, Moffett expressed precisely the
Roosevelt view on the most important
of economic questions at the moment.
Ickes May Not Win
For In the opinion of nearly all dis
ersonally-observers the
Ickes method would defeat Roosevelts
hope to preserve the capitalistic sys-
tenn. Certainly 1t would be long step
In that direction, tending to force all
returns on investment from whatever
they may be at present down to around
3 per cent. Roosevelt has made 1t clear
that personally he fayors per cent.
And very few economists, including the
radicals, believe that private capital
would take any risk at all merely TO
get per cent investment And, OBJ
viously, there Is q certain amount OF
risk In building house to be rented,
or In placing a mortgage on that house.
The fact that Mr.. Moffett's political
life seems in grave danger does not
mean that the Ickes Ideas Will prevail.
Roosevelt Is very stubborn man about
his own ideas, and 1t may be taken for
granted that the Moffett plan, having
| been approved by him after mature de-
| liberation, and along lines previously
indicated by his per cent statement,
| the President will stand firm on the
| issue.
But this will not be enough to save
Moffett. The radicals will never for.
give him, will never fail to pin the
STANDARD Oil" tag on him, and will
wear him down on every issue present
ed from now on.
All of which Is complicated by the
| fact that, although In this particular
| battle Roosevelt agrees with Moffett
and not Ickes, actually the Pubic
Works administrators Is much closer
| to the throne than Moffett. There Il
more personal affection. There is
much closer tie on general political ant
economic lines. Moffett, with his busi
ness background. Is only partial con
vert even to the idea of modifying tht
capitalistic system as much as Roose
Welt desires. Whereas, Ickes was wa.
out In front Of Roosevelt, and still Is.
Actually, there Is only one membe
OF the cabinet whose economic view
would lead him naturally to side will
Moffett. This Is Secretary of Com
merce Daniel G. Roper.
Cheap Grain and Flour
| The loud screams of those objectinl
to the deuge of cheap grain and tiou
that has been pouring into this countr.
despite the tariff wall--since tn
dreuth situation became acute, weir
based on, the fact that much OF thl
grain and flour was subsidized by tn
governments Of the countries in which
1t was produced. In some instance
the bounty for wheat ran as high q
so cents a bushel American money
So the producer did not have to &c
very high price In America for hi
grain to net him q very satisfactor.
profit, even after paying the norma
duty.
1t appears from what has been hap
H pening that this business of sendini
bounty-paid grain to America has BEEF
increasing very rapidly, to the grea
distress Of American millers and farm
ers. Not always has the charge tina
the grain is bounty-paid been accu
rate, but 1t has been true In enougl
instances to justify the campaign tina
has been brought to Washington.
Strangely enough, congress foresav
this situation, and provided against ii
but so far the law has not been en-
forced. The power to enforce 1t ha
lain with the customs division of thu
treasury, but its teeth were not brough
into action. In fact, up to date 1t hal
been a dead letter.
The law provided that If any foreign
government subsidized the production
of grain, the precise amount of tn.
subsidy should be added to the ordi
nary tariff when grain from that coun
try was brought into American ports
But none of these excess tariff duties
have been levied, despite the fact tina
grain, which In some instances wa,
subsidized by the producing countr,
up to so cents bushel, has been pour
Ing In.
Sought Feed Abroad
When the drouth picture began Ii
loom up In true proportions last year
there was quite movement to acquir,
cattle feed from abroad to prevent tn,
sacrifice of American cattle for which
there was> no domestic feed. Thou
sands of head Of cattle were moved
of course, by the government from
parched areas to places where feed wa,
available. But this was not enough.
Also, the government itself, In Its re
lief activities, went into the marke
to buy large amounts of grain and floui
for human beings. Due to these tw,