The Western news. [volume] (Libby, Mont.) 1933-current, 1934-03-15
Then Came Change

Then Came Change
No further details of this converse
tion were reported but other senator's
noticed an immediate change In the
firmness of the Florida senator that
the margin requirements of his meas
ure should not be tempered with.
From another source 1t Is learned
that the forward lockers on the Fed
eral Trade commission, ardently back
of the bill, will not oppose the change.
Ii was stated that they are entirely
satisfied with requirement for 90
per cent margin, and will accept the
40 per cent restriction without too
much objection.
Brokers and investment bankers are
generally very much relieved at the
reported modification. which this writer
can assert Is virtually certain. for the
reason that they have very little doubt
that the bill will be passed. The only
question was how drastic 1t would be
In Its final form.
Sentiment for the measure has been
piled up, mail to senators and men,
bers of the house indicates, BY dis
closure by the Federal Trade commits
sion of the salaries and bonuses paid
to officers of the big corporations
whose shares are traded In on the
stock exchange and curb.
Not only are those naturally radical
and critical OF the vested interests
stirred up by these figures Letters
from stockholders In those companies,
1t is learned here. have been pouring
In on the corporations denouncing such
.sQuandering" of the funds instead OF
paying better dividends
New Deal Detectives
President Roosevelt has proceeded
far enough on the pathway OF the New
Deal to indicate rather clearly what
was more or less conjecture some
months back as to its detectives. They
may be stated as his IA points.
Briefly they are:
l. Continuation OF private operation
OF business. except certain public
utilities, where government opera
ton is favored.
2. Very tight control of all business
by the federal government.
3. Drastic limitation OF profits.
4. Drastic Limitation OF salaries paid
executives, directors, etc.
g. No 'plled up surpluses."
G. No interlocking directorates.
7. No holding companies In the
sense OF control, as distinguished
from investment trusts.
8. No duplication of existing pro-
ductive capacity where present
capacity is sufficient to supply the
probable demand, except where
new and better processes are pro-
posed.
8. Drastic control Of minimum
wages and hours of employment In
all industries.
10. Constant government supervi-
sion OF the spread" between pro-
Queer and consumer.
Ii. Severe scrutiny OF all Invest
ments, the object being not only to
protect investors, but to hold down
capitalization of corporations.
II. Continuance of government ex-
pendItures to "remake the facts of
nature" In developing waterways,
water utilization. flood control. and
irrigation, and adjusting popula-
ton to areas that can support It.
ID. Long term planning for better
homes, and slum elimination and
guiding individuals to most ap-
proved methods, standards of liv-
Ing, etc.
Ia. Old age and unemployment In
surance, rounding out scheme
for no poverty, no wealth (event-
| ually) and general happiness.
Questions Arise
What lis stated In these IA points In
| beyond controversy. Nearly every
word of every point has the authority
| In one way or another Of the Presi-
| dents spoken or written word--not In
/ idle conversation. but In carefully
measured discussion.
There is question as to the Con-
stitutlona authority In some Instances,
for example In the regulation OF GER
tain lines OF intrastate business. This
may be decided by the courts. II any