The Waterbury Democrat., 1934-01-29

Washington, Jan. 20 = With
the congressional session nov
well under way, the scene on
Capitol Hill presents q two-sided
picture.
Regarding major policy legis-
lation-finance, banking, taxa
ton. naval construction, agricul-
ture, labor, industry - the adj
ministration holds complete
SWAY. The victory of the gold
revaluation bill is a graphic IL
Illustration of this situation.
On legislation of local inter-
est, however, where the political
effect is immediately direct, and
obvious, the picture Is different.
This includes unemployment
relief. public works, civil works,
veterans compensation, govern
ment pay restoration.
f. ID, II. STILL LEADS
On these matters the president
still leads, but not with a, taut
rein. As a matter of tactics he is
holding to his economy program
II he C:dn't congress would
run al fLck.
But he is fully aware that con-
gross can be pushed only SO Tar
on these questions. The whole OF
the house, and One-third of the
senate, are up for reelection this
year, and there are many mem.
bers who-c political fate is de
rectIy tied up with the amount
of federal funds they can bring
to their districts and states.
The situation on these issues
is one of give and take, with the
president seeking by means of
compromises to save as much Of
his economy program as posi-
BILE, and congress exerting cease
less counter pressure to white 1t
away. So far, honors are about
even. But the session is still
young. AS spring approaches
and the primaries get under way,
congressional clamor for pie Is
certain to increase.
Which explains why the pres
ident Is SO DESTROYS of winding
I'D the session on or before May
l.
EGG EXPERT
Progressive, ranks on Capitol
Hill are still smarting a bit over
General Hugh Johnson's fiery
retort to the Borah-Nye blast
against the NRA. He claimed
they didn't know what they
were talking about because they
knew nothing whatsoever about
business.
1t has been a long time since
the two progressives were sub
jected to so harsh a going over.
Borah. Enthusiastically, is bid
ing his time to come back at
Johnson. Nye, with the Zest of
youth, leaped to the fray at once.
$50 johnson says i shouldn't
criticize because know nothing
about business" the North Da-
kotan snorted. "That recalls a
very pertinent story:
IA man stepped into an art
gallery one day. He stopped In
front of a newly hung picture,
looked at it while, shook his
head and started to walk away.
Another man, standing by him,
inquired, Don't you like that pic
ture?'
mo, don't think it's as good
as the others here. 49,.
What's the matter with it?'
"'Oh, 1 don't know. But it just
isn't right, something wrong
We'll, are you an artist?'
"'Nope, never painted in my
Well, now happen to be the
man who painted that picture,'
the second man observed. If you
are not an artist, why do you
presume to criticize something
you don't know anything about"
"T agree / am not an artist,
and perhaps ] should not criti-
cize,' was the rejoinder. But
neither am / a hen, yet can
tell a rotten egg when see one'."
STOCK EXCHANGE
acknowledgements on Capitol
Hill the maneuvering over stock
market regulation is developing
into a battle within a battle.
On the surface the contro:
versy appears to be over federal
control OF exchanges. But this
is only one phase Of the strug-
gle.
In back of it all is an even
more furious row. The prize is
domination of the great New
York Stock Exchange.
NK-AND.FILE
A rank-and-file movement
has been organized among the
brokers to throw off the suzer-
ainty of the House of Morgan,
personified in the presence OF
Richard p. Whitney, head of the
| a ~ N