, 1935-04-19
WASHINGTON
By X

ENA4UG AAC
to r. d. RS acceptance Of q bonus
bill are simple. First, there must be
no turning or Of the printing
presses, immediate Treasury bor-
rowing or new taxation to make the
bonus redeemable at once. And sec
ond, congress must declare itself OPP
posed to any future general pension
system for World War veterans.
A bill embodying these two prin-
ciples would furnish the president
with a life net into which he could
lump from a rather hot spot. Give
him a measure like this and Mr..
Roosevelt will be able to claim that
in It's acceptance he finally has TAX
en- the veterans issue out OF politics.
This Is calculated to appeal es-
pecially to a large number Of gent
lemen who come up for reelection
To the senate and house next year.
who will enjoy their campaigns
much more If that issue Is not in
iected.
Empty - The questions Of inter-
est cancellation. 25 per cent dis
count. etc. may be compromised
when the measure finally gets 70 con-
ference in order TO meet house OBJ
jections.
But II the vets will be satisfied
10 take certificates Immediately dis
countable at a bank or due finally
In 1898 instead of l945 - PLUS AC-
QUIESCENCE IN A CONGRESS
SIGNAL DECLARATION AGAINST
WORLD WAR PENSIONS = the
bonus DOGGY may not turn out TO be
such a hobgoblin after all.
One can already hear the murmur
among veterans leaders on the lat
ter score. Very quietly II In being
pointed out that what this congress
and this administration does cannon
bind those to come.
Combination - President Roose-
welt talked cold turkey With the
congressional delegation which wait
ed on him the other day demanding
relief for the cotton growers.
According to m who was pres
ent. r. ID. r. proposed a bargain with
them. In exchange for assurances
that congress would give additional
legislative life to the AAA cotton
curtailment program. the president
was willing to offer continuance OF
the l2c cotton loan policy.
So far the White House is stand
ing pat on a continuance Of the pro-
cessing tax. about which the cotton
manufacturers are screaming so
loudly. But unless all signs fail.
the president Is going to have a
knockdown fight with the textile
people before he gets through. New
England and Southern members OF
congress have combined IN a for
once common cause and are enlisting
the aid OF others through side trades
Urgent II was significant the
other day that the supreme court
moved faster than the government
toward bringing about a final rul-
ing on the conStitutionality OF NRA.
The Department Of Justice asked
that the Schechter case - involving
alleged wholesale violations by the
BROOKLYN poultry firm Of that name
be brought up for argument on
MAY s. The court set the date at
Nav 2. Court Attendants say II Is
unusual for the 9 high jurists TO
rush a hearing.
Now that the New Deal Is in for
ar imminent showdown on the Blue
Eagle il Is a safe bet there will be no
final action on extension OF NRA
until the supreme court has spoken.
That would defer a final congress
sional vote until very shortly before
the June is date on which the pres
ent setup expires.
Pamphlets - The American Lib
erty League. that organization back
ed by wealthy conservative demo-
Gratis and republicans. may not have
been making such a stir In the
newspapers lately but II is getting
plenty Of circulation with its criti-
cal analysis OF New Deal ideas.
approximately 80 pamphlets have
been issued BY the league TO date
all ar them pretty much at odds
with basic ideas behind the RooSe-
welt program. The A. l.. L. has cir
culated 100000 copies. a measur-
able proportion Of them by request.
solution 80 The RFC Mortgage
company is getting under way au-
thorized capital SIS. 100000. The
amount that can be lent Is unlim-
tied.
Apartment houses, lofts, business
blocks. hotels and other big encum-
hered properties will be hauled out
or the doldrums. The biggest bust
ness will be in New York City. Chica-
20. Detroit. Cleveland and Los An
geles. The company will borrow
from RFC whatever 1t needs. 1t will
also turn mortgages over to insur-
ance companies. Local agents OF
RFC viii shape up the business. All
directors and officers are in the
RFC outfit.