The Hardin tribune-herald. [volume] (Hardin, Mont.) 1925-1973, 1934-09-07


British governments failure to sta
oillze Or to return to the gold stand
ard.
Want Cheaper Pound
The reason the American officials
mink that the British did not really
want the offer accepted Is something
else again. There has been . theory
mere for several years that the Brit
ish did not want to stabilize the pound
Id gold at anything Ike a. high q dg.
ore as anyone was thinking about at
the time. This reason. which n i'm
portant In figuring out the probability
Of a return to the gold standard BY
Great Britain, il that the British sim
ply cannot continue to carry the bur
den Of Interest on their public debt
with the pound at anything like its
present value. Great Britain was
the only one Of the allies which went
pack to the gold standard after the
war at anything like the prewar value
OF Its currency. The Italians marked
down the value Of the Ira from about
70 cents to under 8 cents when they
returned to the gold standard. The
French marked down their franc from
about 20 cents to about 4 cents gold,
the Belgians from 20 cents to 8, while
the Austrians almost wiped out their
currency and the Germans completely
wiped out theirs.
When the pound reached its approx
Innate low water mark Tin dollars) Of
1925 prior to our going of gold, this
writer pointed out that best opinion
here was it would have to 60 consid-
erably lower before Great Britain
could stand her debt burdens. The
pound has not advanced, In terms Of
gold. The dollar has simply made q
slightly greater decline. But, accord
Ing to best financial judgment here,
the only thing that a prevent ulti-
mate fixing Of the gold value Of the
pound much lower than It is today IL
tremendous advance in world prices.
Maryland Politics
Always inexpllcable to outsiders
and for that matter most residents
Maryland politics is approaching q
new high water mark for b~izarreness
this year.
To begin with, we have a United
States senator, Philips Lee Colds
borough, making the race for governor
instead of running for reelection Is
senator, despite the fact that the OBJ
vious Democratic nominee against
him, George L. Radcliffe, has never
run for Office before, and is therefore
a totally unknown quantity as a vote
getter.
Then we have a sitting governor,
who has had four terms, although no
n else ever succeeded in getting
more than one, insisting on standing
for a fifth term as governor. instead
of stepping into the senate, as his
party leaders implored him to do and
every one comedies he could have done.
His insistence almost wrecked the
party organization. This is Albert
Cabell Richie, known to Washington
correspondents as the more or Less
Permanent Governor of Maryland"
Senator Goldsborough himself has
been governor of the state. In fact,
he and Lloyd Lowndes, who was elect
ed back In 1895 during a revolt against
the old Gorman-Rasin machine, r
the only two Republican governors the
maryland Free State" has ever had.
Each was succeeded at the end Of his
first term by a Democrat.
Now he Is anxious to be governor
again. There are a number Of reasons
for his choice. Most important is the
strange situation in which Governor
Richie finds himself. The, absolute
boss Of the state for more than fifteen
years, the governor encountered op-
position to his wishes this year. Sen
ator Willard F. Tydings, known in
Washington as "Glad Tfdings," decid-
ed that MI. Richie had been governor
long enough. Senator Tydings comes
up four years from now, and it &C.
Cured to him that the governor might
just decide after four years more a.
governor that he would like to round
out his career in the senate. which
would retire Senator Tydings from
public life.
Despite the extraordinary upsets
and unp%redictable exigencies Of pol
itics leaders continue to plan ahead.
So Senator Tydings wanted Governor
Richie to come to the senate this
year, and he decided that he would
do his own picking Of the new cover.
nor, thus actually making himself
boss Of the state in place Of Governor
Richie.
Opposition Bobs Up
The senator was aided In this plan.
ming by the fact that, due to Governor