Evening star., 1934-01-11
RESIGNATION of William H. woodin as

Resignation Of william H. Woodin as
Secretary of the Treasury, and appoint
nent of Henry Morgenthau, jr., as his
successor, turn public attention largely
to the two personalities represented.
Estimates Of the retiring Secretary place
him among the leaders of finance and
a man to whom the country looked with
confidence in the days Of the bank
holiday. The new official is expected
to be an executive of action who will
meet the requirements of present policies
of the Government. Both are credited
with efficiency in cooperation with
President Roosevelt.
"Mr. Woodin came into a difficult
condition and met it well" says the
Hartford Times, adding that "Mr. Nor
genthau has enterprise and an execu-
tive gift and may make an excellent
record" The Cleveland News recalls
that Mr. Woodin's voice was one OF
the first, along with that of the Presi-
dent, bespeaking confidence in the dark
DAYS that accompanied the banking
holiday" and advises that appointment
of his successor serves notice to Con-
gress that the administration considers
its Treasury policy good and will stand
pat on it for a time at least"
There Is hardly doubt" thinks the
Jersey City journal, that the presence
in the Treasury of Woodin reassured
the country at time when reinsurance
was in demand. When all the banks
we're closed, when Congress had au--
thorized printing press money, and
rumors galore were afloat about what
substitutes for money (and even for
banks were TO be foisted upon the
country, the smile and even tempo OF
the musical Mr.. Woodin were in har-
personified by the President himself.
For big business, which had lost faith
in nearly everything-and had also lost
the faith of nearly every one-knew,
respected and liked Woodin. And. be-
cause Franklin D. Roosevelt picked MT.
Woodin, the general public held him In
the same esteem. He disappointed no
one" That paper voices the opinion
that the new Secretary Of the Treasury
will play ball the Presidents way, and
If there Is value in team work the
country should be in a position to
realize upon it."
Secretary woodin." according to the
Fort Worth Star-Telegram, proved to
be a useful cooperative OF President
Roosevelt. Secretary Morgenthau VIII
be no less one. The heavy propagandists
of various phases Of the money situation
have pictured discord between Secre-
tary Woodin and his chief. Those fear
ful Of fiat money or imitation claimed
they saw Secretary Of the Treasury
in disagreement with an administra-
tion policy. All Of which has been dis
proven by subsequent events and by the
concern expressed by the President for
Mr.. Woodin's recovery and a concern in
which the Nation joins. The important
fact, however, Is the change made
scarcely q ripple over the face Of the
political waters. The Treasury Is as
solvent as it proved to be in March.
when there seemed grave doubts as to
the solvency of anything. There Is no
question as to the capabinty Of the
new Secretary-and there will be no
schedules Of alarm from any group be-
cause Of his appointment to the ONCE
he has been filling the past few months.
It's good start on the new year."
Belief that the President will con-
tinue to be strongly influential in the
affairs of the department is expressed
by the Rockford Register Republic, the
Philadelphia Evening Bulletin, and the
Philadelphia Inquirer, while conclusion
that Secretary Morgenthau will oppose
radical policies is drawn by the Rock
Island Argus and the Lowell Evening
Leader. The Roanoke Times holds that
the new official, who has been acting
chief, will continue to direct the de-
velopment Of the gold-buying plan and
will have charge of the monetary pro-
gram on which the administration de-
pends very largely for the success Of
the recovery plans" The Scranton
Times thinks that there s mo doubt