The Waterbury Democrat., 1934-01-26

Washington, Jan 26.-Despite official announcements, the CWA is not going to be wound up by May 1.
 In the first place, congress is not going to let 1t be wound up. In the second place, the presi- dent is waiting for congress to push him. He knows that with elections coming, political careers hinging on jobs at homes the CWA is going to continue. But also he feels that it will be good political strategy to have con- gress take the initiative.
 There is another problem, however, perhaps more import ant, The clean-up jobs done bv the CWA will not last forever. The story of the CWA director in Georgia who telegraphed Wash ington for more leaves to rake, is outworn fiction, but 1t is a fact that odd improvement jobs can't continue indefinitely.
 WORK FOR CWA
 On the other hand, really sig nificant work awaits the CWA if a transfer of projetcs can be arranged. This is slum housing and the building of railroad grade crossings.
 At present these are under Honest Harold Ickes and his Public Works Administration. Ickes has done a swell job, but has been handicapped by legal- ists under him who think points of law are more important than putting men to work.
 The present move is to trans- fer housing and grade-crossings from Public Works and put them under dynamic Harry Hopkins, whose lightning organization of CWA carried the country through the winter.
 Congressional momentum is piling up for this. The coming summer may see not only more CWA, but also permanent build ings going up instead of parks cleaned and leaves raked. AND US TOO
 Alaska Slim" Williams, ad- venturer and gold miner, mushed his team of huskies all the way from Fairbanks to Washington to attend the opening of congress. His old friend, Senator Lynn Frazier, gave him a ticket to the reserved galleries.
 What about my dawgs?" Will Hams asked.
 "Well, what about them" de- manded Frazier. DO they bite?"
 "Bitew replied Slim. "Say, those dawgs are so Ornery they would rip your arm off if you tried to pet 'em".
 "Fine," retorted Frazier brisk ly. "In that event you bring them right into the senate itself. There are couple of men around there I'd like to see try and pet them."
 DIPLOMATIC LETHARGY
 Behind the state departments move to prevent German slashing of interest rates for American bondholders is a story which the Career Boys are trying hard to forget.
 When Germany first served nO- tice that interest rates to Ameri- can bOndholders would be scaled thirty per cent, the state department did nothing. It con- tinued complacently its round of teas and protocol.
 But the Federal Trade Com mission howled. Under the Securities Act, that body is now entrusted with the study of foreign bonds and it urged the state department to act. The Career Boys, however, didn't like the idea. They said there was nothing they could do about it. TOUGH CUSTOMERS
 But Trade Commission mem- bers were stubborn. They point out that the German action was discriminatory, that Ger many was reducing interest rates to American bondholders while giving Swiss and Duth investors a higher rate.
 The commission also un- earthed the fact that while plead- ing inabilitieS to raise foreign exchange, Germany was using her exchange for buying up de- pressed German bonds in the American market, had pur- chased 25O million dollars worth of bonds for only 60 million dol- lars. Thus by cutting interest rates, Germany was depressing