Montana labor news., 1934-05-03
HAPPENINGS
IN CONGRESS
(By Hon. Joseph P. Monaghan.)

Mcleod Bank Bill.
The Mcleod Bank Bill, previously
referred to in this column, is still re-
ceiving serious consideration by House
leaders. Speaker Rainey predicts that
it will pass the House and his predic-
ton is authoritative. The Bill un-
~doubtedly would pass the Senate, but
unless modified to meet the demands
of the President it is unlikely that it
would receive his signature. The
President reasons that if those who
lost money in banks are paid by the
Government, then by analogy all those
who have lost money in business, in
the stock market and other enterprises
would also expect and demand atten-
ton. However, Congressman Mcleod
maintains that those who invested in
business and securities did so realizing
that they were assuming a risk, while
those who placed their money in banks
that were members Of the Federal Re-
serve did so believing that their money
was as safe there as in the United
States Treasury. However, it is be-
lieved that a compromise agreement
whereby so per cent of the deposits
may be paid will be arrived at. The
thought occurs that a mar who places
his money in the bank, if we are to
have confidence in banks, should do
so with the same security that he
would feel were he to place it in a
safety box at home. That same man
might feel the same urge to speculate
and invest with the hope of doubling
and trebling his money that other
men feel, but since he refrains from
so doing he should not be penalized
because of the lack of good judgment
of those bankers who speculated and
lost.
Prospect of Adjournment.
On the occasion of the recent con-
ferences between the President and
the Senate and House leaders, the
President did not again indicate his
dsire for an early adjournment, but
confined himself to the business at
hand, urging passage of the reciprocal
tariff, the tax revenue bill and a stock
market bill with teeth in it. We hope
Congress will not adjourn without the
passage Of much needed legislation. If
the President really desires an early
adjournment, his reason is undoubted-
ly to give the country such a reason
able opportunity for reaction as will
indicate any weaknesses that may have
developed in the recovery legislation
thus far enacted.
Air Mail.
Suits filed against PostmasterG Gen
'eral Farley by those air transport COM
panies whose contracts were cancel
led again revives interest in the air
mail situation. The people of the
United States are so fed up on fraud
in one form or another that they re-
alize that drastic action was necessary
if business men and politicians or those
officials entrusted with the care of
public funds and public duties were to
be impressed with the duty which they
owe to the public. This Administra-
ton has made clear the fact that it
will not brook nor tolerate fraud in
any of its phases. If any suit should
be filed it appears that suit should be
filed by the Government to recover
from those companies that have swind-
led the taxpayers Of millions of dollars
in the form of subsidies received
through Government contracts APP
proved by former Postmaster General
Brown. The idea of Grover Cleveland
that public office is a public trust
has been paraphrased by Roosevelt
with the expression in his new book
that a private office is a private trust.
1t is worthy of note in this connection
that President ROosevelt's new book,
THE WAY OUT now off the press is
well worth reading.
District of Columbia.
District bills have consumed a large
part of this weeks legislative pro-
gram, and therein lies a tale. A
tremendous waste of time results when
Congress, especially now during the
period Of the enactment Of recovery
legislation, spends so many precious
days considering legislation affecting
only 100000 citizens here in the Dis
trict of Columbia, while 10000, 900
people are waiting daily for Congress
to pass the needed laws which they
hope will bring about a return to nor
malcy. There is some wisdom in the
provision that Congress shall save the