The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-07-02
THE PRESIDENT APPOINTS

THE President, of on his deep-Sea vaca-
l. ton. leaves behind him newly created
agencies Of government that are likely to
have a profound influence on American af-
fairs. Chief of these are the exchange and
securities commission and the labor relations
board.
Through the first-named the government
seeks to set up effective control over those
financial institutions which are Jumped to-
gether loosely under the name Of Wall Street.
thereby reversing a situation Of long standing
IN which Wall Street has exercised such ef-
fective control over the government. Through
the second named, the government under
takes to substitute reason and fair dealing for
force IN the adjustment of differences be-
tween capital and labor.
In each case the President has named
groups of men capable of doing their respec-
tive jobs
This is said without qualification in the
case of the labor relations board, since the
three men selected for him by Labor Secre-
tarv Perkins not only have excellent records
of public service, but come to their new tasks
solely by invitation of the government and
with no interest to serve except the publics.
We would be less than candid if We were
to saw the same concerning the exchange and
securities commission, because it is necessary
10 qualify as to one man, the probable chair
man. There is no point now in restating our
rnisgivings as to Mr. Kennedy, with his back
ground of stock market speculation; instead
0ff In
doubt. It was said continually in his behalf,
during the days when he was pressing his de-
mand for this important appointment that
he was through with speculation, through
with playing with other peoples money, that
ne desired only an opportunity to serve his
friend. the President. and he could and would
turn MS very intimate knowledge of high
finance to that end.
So be it. A commission four-fifths COM
posed of Messrs. Lands, Matthews, Healy and
Pecora is one in which the people can rest
their faith These are four men each with
record of expert and disinterested public serv-
ice. And when Mr.. Kennedy proves his case
then there will be five.
man. Senator Wagner, deserve the praise
heaped upon them by President Roosevelt and
Secretary Perkins. They have done splendid
service in a difficult time. The new board
with its powers more clearly defined, should do
even better.
The three members, each an expert in the
field of labor relations, are salaried, fuil-time,
nonpsrtisan officals-an improvement over
the clumsy bipartisan arrangement with its
invitation to dissension and its undue burden
on the impartial chairman.
It has authority to investigate, hold labor
elections. hear complaints of discharged en-
ployes and act as voluntary arbiter. 1t may
propose establishment of new industrial and
regional labor boards and review their de-
cisions if it deems necessary.
Ilovd Garrison of the University of Wis
cousin; Harry A. Mills. Chicago university.
and Edwin S Smith. Massachusetts, labor COM
missioner. forming the new board, are experts
picked by an expert.
The President also named the seven mem
bers of the new communications commission,
which supplants the old radio commission and
takes up the powers heretofore vested in the
interstate commerce commission over tele-
graph and telephone.
OF the seven only two men can be regarded
as experts in public utility regulation-Chair-
man Sykes coming from the old radio COM
mission. and Paul A Walker, chairman of the
Oklahoma corporation commission. A third
irwin Stuart. is experienced in industrial COM
munications.
The records of the others have to do with
Notwithstanding a governorship-polltlcs,
the drama, the law and journalism. How
ever. these men have pretty big jobs to fill and
some or all may grow to be big men in the
process of filling them.