Evening star., 1934-10-16

You may recall that the first CO.
ordinator, Frank Walker. decided last
Spring that his business needed him
very badly. Mr.. Walker may cut Oh
his right arm If Mr.. Roosevelt re-
quests 1t; but It is doubtful whether
Mr.. Walker would consent to be CO.
ordinator again. Mr.. Walkers sue
cessor was Donald Richberg. who took
the job just to get away from Gen.
johnson. which may give you . hint
how badly he wanted to get away.
However. Mr.. Richberg nov Is back
In the NJ r. A.
The sum total Of their co-ordina-
tion thus far Is the establishment Of
q telephone switchboard information
service. The extent Of this service Is
to keep track Of the various far-fiung
ingredients of the alphabet soup. just
in case one ingredient might want to
get in touch with another one come
time.
Must Clear Inconsistencies.
Every one (since DR.. Johnson)
knows consistency is the busaboo Of
small minds, but few people realize
what q stretch of imagination viii be
required Of the new eo-ordinator.
For instance. Harry Hopkins Is
buying farms and stocking them.
while Henry Wallace is curtGtltng
the acreage and slaughterin1 the
stock. Reieter Hopkins has taken
in about 10000 rural families By
purchasing farm lands for them,
stocking the premises and tdet~g
mortgages.
Then A. A. A. Director Wallace may
come along and pay the farmer for
reducing the acreage and killing the
pigs which Hopkins bought.
Just - difacult. and Older. b the
problem Of d0vetainng the A. A. A.
and N. r. A. price policies. The
fundamental purpose Of the A. A. A.
Is not to boost farm prices, but to
restore fair price parity between the
farmers payments for manufactured
goods and the price he receives for
farm products. But II the n. r. A.
works, the price Of manufactured
goods goes up and puts the A. A. A.
goal further behind the end zone.
Must Make Pelicies Cenfsrm.
After figuring that out. the CO.
ordinator can then devote himself to
making the monetary policy conform
both to the A. A. A. and N. r. A.
policies.
Then he can hArmonize the banking
policies which require Hquidity Of
banks for meeting the requirements
of examiners and for absorbing Gov
eminent bonds, With the other policy
designed to make bankers loosen up
and make commercial loans.
As relaxation from such deep stun.
the co-ordinator also would devote
himself In on moments to harmonic
ing Mr.. Farley with Mr.. Tugwell. Mr..
Hull with Mr.. Peak, Mr.. Hurjs with
Mr.. 1ckes, etc.
It Is . good Job for any one Who
can do 1t.
The reason Mr.. Morgenthau an
nounced his new Spring rednancing
is that he had to. At least. An his
advisers seemed to agree that II he
did not, It would be . confession Of
weakness and might hurt the Govern
ment bond market.
Msssolini Changes Tune.
You can get . sharp inside slant
on all this war talk you have been
hearing in past months by digging
behind the sudden changes Of front
by Signor Mussolini.
The worlds champion sabre rattler
said only 10 days ago that II Yugo-
slavia did not stop criticizing Italy
it might learn something about the
bravery Of italian soldiers. Shortly
thereafter King Alexander was as
sassinated. New, with italian diplo-
matte ofdcials being beaten untustly
by infuriated Y1goslavian mobs, Mus
solini has ordered the incidents sup
pressed in the Italian press. In fact,
be has publicly praised Yugslayian
authorities for their efforts to main
tain order.
Mr.. Mussolini. like many another
statesman, may bark wildly to frighten
his adversaries, but he knows how to
be ViGe and cool-hended when hitten.