The Western news. [volume] (Libby, Mont.) 1933-current, 1935-01-24

ton of giving In to Illinois on this.
Might Be Liability
This leaves the Southwest and the
Pacific coast not directly Interested
one way or the other except as the
project may tend to prove An addi-
tionnl burden or their taxpayers. And
there is where tile possibilities Of these
rate cuts already planned. and those
obviously In prospect, come Into the
picture.
For they mean that the current pro-
| duced by the st. Lawrence seaway
project may actually turn from what
| hns been regarded us an asset, In con-
sideration of the project as an eco
| monte while. into liability. II Is
/ even conceivable that the President
| may lose some of his keen Interest IN
the project, though he has said moth
| Ing to Indicate this.
But. If the proposed cuts of electric
rate are followed shortly by such
program of future cuts rs has been
| suggested, actually the chief reason
| for his being 30 strong for the treaty
will have disappeared. lie has never
! said so--publicly-bn all his close
friends know that since the beginning
OF his interest In the project his chief
concern WAS not the seaway to make
cheaper freight rates to Europe for
the Middle and Northwest, but the
power. II was part and parcel OF his
plan for forcing down electric rates
all over the country.
He never said so for the simple rea-
sou that the st. Lawrence seaway has
been a very popular issue-as a sea
way, not q hydroelectric scheme-tn
the Middle and Northwest for many
years But the fact stands out that
unless he pulls wires with really ex-
traordlnary success, the treaty will be
defeated again this year. And he may
lust content himself with strung
public appeal. perhaps vigorous mes
snge, favnring the treaty, Instead OF
turning on the heat In private, which
Is the only way the thing can possibly
be gotten through the senate.
President Optimistic
President Roosevelt Is much more
optimistic about the financial future
of this government, providing he c*n
hold the bonus compromise down to Y
reasonable figure, than either his bud
, yet message or his explanations OF Il
TO newspaper men. senators and mem
, bers OF the house Indicate
To begin with, there Is s4OOU.OOo,
/ ODO Kitty to use his own word II
conversations about It. Only he doe!
not speak OF $4,000, ONO, OOU-he speaks
! Of 5000, UOO,UUO. Which is another
/ Indication Of how his mind Is working
+ For II will he recalled that In each 0
. his budget messages be has gone gu
/ OF his way to put the worst foot for
! ward, the aim always being to be ah
J. to make the picture look hetter-h
J. contrast--af some future date.
;. AS ii matter OF fact, had his strateg
been of different variely-had h
:. been trying to make the financial pic
J. ture look rosy instead OF dark wilt
y dauht--he could have painted rathe
4 optimistic picture. Instance: II
II could have made a fair calculation
u say somewhere from 50 cents to .
/ cents on the dollar, OF the debts owe
# The Reconstruction Finance corpors
II tion. Actually the corporation expect
a. u-ind do al
Il This would have deducted few hi
a lions from the total apparent debt
- be reduced by the government by III
" end Of the fiscal year l93G--or July
= 1897
o He could have used the S4.OU,Wf
n UU kitty" as another Offset. Tn
~ "kitty" consists Of s2.OO,0O,0U prot
| made on the revaiuation Of gold. ar
8. s2,UUUUWOuO additional In the eQua
IzatIon fund. which was voted BY co
gress and is being Administered
absolute secrecy ~. Secretary of tt
lie Treasury Aorgenthau.
~ Profit in Silver
~ Experts who have tried to tigur
~ without inside Information which
10 not ohtanable. Aall agree that the
n. il a considerable profit already. {
n. the silver purchase, for examp
~ Some estimate II n being more til,
mr. half billion dollars profit right no
h. without calculating any further 4
Of vance In the price NJ silver.
Rui the President did not want
rk make fhe budget statement ant mo
I'm optimistic than he could help.
nd wanted ns blue 4 picture a. possit
ISL for tive rensnns-
m One Is that the more rosy the bt
aw get outlook. the greater difficulty
ng wnnld have restraining the hon
It'll seekers. That In fairly obvious.
81 fits In with his direct threat that
In congress boosts tina expenditures D
ISL posed In the budget In any suhstnnt
Of particular, congress must provide |
on nancy by imposing additional taxau
Tie ether. and In why the m,
eW Important. Is for the effect at ~