The Waterbury Democrat. [volume] (Waterbury, Conn.) 1917-1946, 1935-07-12


the Italian government has defau
On the other hand, private
here, regardless of the johnson
Act, since the Act applies only
to governments.
The Italians, however, have
looked into this, and fear 1t
would be suspect. Now, ac-
cording to confidential reports
cabled by American agents to the
administration, 1t is proposed to
float q camouflaged loan
through Swiss bankers. Bonds
would be issued for the "col-
onization and development Of
North Africa"
ETHIOPIAN LOAN
Emperor Halle Selassie Of
Ethiopia also would like to float
a loan in the United States. Hav-
ing defaulted on no war debts,
this would be possible.
However, the Emperor's agents
no enthusiasm on the part on
American bankers. The bank
ers wanted collateral. Ethiopia
offered lien on its customs re-
ceipts.
''But what guarantee can You
give u.s." asked the bankers,
''that your customs houses will
not be in Italian hands within
o few rnonths?"
There the deal ended.
HUEY'S CAR
Huey Long is eager to adver-
tise Huey Long, but not the
automobile he buys.
When he bought a new car
the other day, the dealer saw
a chance for publicity. He en-
gagged q cameraman to "shoot"
Huey receiving the keys of his
new car in the court Of the sem
ate office building.
Huey took the car, but the
cameraman didn't take the pic-
ture. "I'm paying cash money"
said Long, pulling out a thou
sand dollar bill, land that's all
you're goin' to get out Of me-"
FEDERAL TRADE COMMISSION
For nearly two years the fed
eral trade commission has been
in the doldrums. Its famous in
vestigations OF the Power Trust
and of the Meat Packers, its
crusades to enforce the Sher-
man Antitrust Act, were tenn
porarily forgotten. The public
spotlight played exclusively on
the NRA.
Thesis of the MIRA was exact
ly opposite to the Federal Trade
Commissions. The MIRA en-
couraged combines, working
agreements within industry. 1t
considered the Trade Commits
sions' antitrust ideas out Of
step and old-fogeyish.
To-day, all that is over. AS
q result of the supreme court
dismantled. 1t has been shorn
decision, the situation Ii re-
versed. The Blue Eagle Is silent
and forlorn. Its roots is being
rapidly dismantled. 1t has been
shorn of power and voice.
The ETC has now come back.
This was the real significance
behind the Presidents recent or
der directing the commission to
initiate immediate negotiations
with all industries desiring vol
untary codes.
BY this act the president, with
out saying so in SO many words,
restored the ETC to its domin-
ant position as the governments
trade and business regulating
agency.
According to the temporary
law under which the MIRA is
now operating, voluntary codes
can be authorized. But. the.
president did not turn to the
plucked Blue Eagle. Instead he
entrusted the job to the FTC---
thus still further devitalizing the
MIRA.
The ETC always has had
power to approve voluntary
codes. But throughout its 20
years Of existence 1t was asked
to grant only a few. Now, with
MIRA codes wiped out, several
score industries are clamoring
for ETC licenses in an effort
to preserve such business gains
as were obtained under the Blue
Eagle.
ANTIQUES
Uncle Sam now is casting an
inquiring eye on antiques.
Commissioner of Customs
James Fl. Moyle has ordered a
general Tightening up" at the
ten ports of entry where "artis-
tic antiquities" If established
as productions of an earlier date
than 1880, are entitled to free
entry to the United States.
MoyIc's action has helped to
swell federal revenues. In n
recent shipment from abroad to
New Orleans, heavy duties were
imposed on supposedly "antique"
china ,netered as pre-fS3O vari-
ETY.. One Of the plates happened
to bear design of the steam
ship Great Eastern, which did
not exist until 1855.
Some supposedly ancient fur
niture received like treatment.
Nails withdrawn for inspection
were machine cut. Machine-cut
nails originated in 1855. Previ-
Gus to that only Handicapped
nails were used.
So, If you import an antique,
be sure It has q bona-fide ex-