Evening star., 1935-05-05

porting the Dill now before Congress
TO abolish many utility holding COM
panies, Mr.. Roosevelt referred to
what he said was "an uneasy ap-
prehension Of over concentrated
economic power In the hands Of a
very few Then, too, there is New
Deal interest in the plan Of SEN
ator Wheeler Of Montana, to tax
corporations on the basis Of their
bigness.
However. q more direct New Deal
"share-our wealth" program is con-
tanned in the suggestion by Henry
Morgenthau. jr, Secretary Of the
Treasury, for a new tax on inheri-
tances. The Government now taxes
estates. 1t proposes to tax as in
come the individual inheritances
that result from the division Of those
estates. Senator Longs wealth-shar-
ing plan is based on a tax on capital
rather than on the income from
capital. just as the estate and inher-
ltance taxes are levieS directly on
capital.
So the President is offering plans
Huey Longs sails.
He has plans to do the same with
the sails Of Father Coughlin. The
central idea Of the Coughlin plat
form, aside from general statements,
is that Of a central government bank
with power to issue currency to be
used in paying Government bills.
This currency would be backed by
the huge gold and silver reserve Of
the country.
''I believe" says Father Coughlin,
"that one Of the chief duties of this
Government Is to maintain the cost
Of living on an even keel and the re-
payment of dollar debts with equal
value dollars"
The banking plan backed by Mr..
Roosevelt, and now before Congress,
has as one Of its central features q
declaration Of policy calling on the
Federal Reserve Board to seek to
achieve the end urged by the National
Union for Social Justice. The one
vital point of difference between the
New Deal bank plan and the Coughlin
bank plan is that the New Deal plan
does not contemplate the use Of
printing press money to pay bills.
Mr.. Roosevelt has told newspaper men
that he definitely is opposed to that
sort Of operation.
The President thus has something
to offer both the Long and the
Coughlin followers. That leaves DR..
Townsend and his old-age pension
plan.
Congress killed the $200-a-month
Townsend pension idea with little
ado. The plan failed to draw the sup
port claimed for it. But President
Roosevelt has a program to soothe
the feelings Of the advocates of that
program. He offers not one, but two,
pension plans. One would give Gov
ernment help, up to SIS month, to
State old-age pension systems. The
other would establish q system Of
forced saving on the part Of all work.
ers, so that by the time they reached
the retirement age they would have
an assured income-smaIl, but enough
for subsistence.
Then he goes a step farther to pro-
vide the framework for State systems
Of unemployment insurance. All
those plans will be slow in taking
effect, but they are the beginning of
a social insurance system for the
country, once they are approved by
Congress.
It would seem on that basis that
Mr.. Roosevelt has something to offer
to the followers Of each Of the coun-
try's leading panacea peddlers. Yet
neither Huey Long, nor father Cough
lin, nor DR.. Townsend, Is satisfied.
Each goes ahead building up an or
ganization designed to force the coun-
try to accept his full scheme.
Senator Long claims 100000 sworn
followers. Father Coughlin claims
8,500.000 even more ardent followers.
DR.. Townsend thinks he speaks for
10000, 900.
Added together those totals are i'm
preSsive to any politician. Mr.. Roose-
velt's strategy Is to keep these people
divided. Thus far he has been sue
cessful.
But what Of the Presidents own
troubles? Aren't there just as sharp
divisions in the ranks Of his own
party? Is there not growing evidence
of lack of enthusiasm on the part
of leading Democrats toward Presi-
dent Roosevelt's policies? Won't he
face q division the same as his oppo-
nents?
The answer most often heard in
political circles is that Mr.. Roosevelt
Is in power. He has much to offer
to those who would stray. His lead
ership Of q major political party, in
office and needing unity to stay in
Office, insures support from the party
leaders, whether or not it Is grudgtngly
given.
The cards still seem to be largely
in the Presidents hands.
(C6pyrieht. 1880