, 1935-06-04
WASHINGTON
BY Ray Tucker

Formidable = The conservatives
who danced so gaily on the grave Of
the NRA may soon have reason TO
wish for its resurrection. Unless
business behaves - 70 use congress
Slonal language - and shoulders
wage and hour responsibilities IL
said II could carry without the help
OF the Blue Eagle, the free-and-easy
spending inflationist fellows on
Capitol Hill will have q new sales
talk.
In the corridors and cloakrooms
they speculate on the possibility Of
p~rice-cutting and wage-slaShing.
The farm bloc worries over q drop
In commodity prices and a setback
to agriculture. Labor feels IL has
been denied the federal reinforce
ment 1t had expected through Sec
ton "a. Only the promises OF in
dustrialists 10 preserve NRAs gains
sustains them. And they are skep-
teal men.
If the bottom drops out OF the re-
covery movement these groups will
pool their demands. They will
square off for initiation. greenback
money. raking leaves at govern
mental expense. a cash bonus pay
ment, farm bounties. etc. They will
make a formidable army and their
symbol will be a golden eagle. not
q blue one.
Independent - Supreme courts
are none too popular In some circles
these days. But there may be an
other one In the making-a SUI
preme court OF banking.
The behind scenes battle over
Title III OF the banking bill is
nearing the showdown stage. Both
sides-the bankers and the Eccles
faction-are making a great deal
Of noise. Some Of II Is sham shoot
ing. Senatorial compromises are
quietly trimming the bill into more
p~resentable shape. II will emerge
from committee with amendments
making the Federal Reserve Board
absolutely independent OF the pres
ident after appointment. All MEM
bers may be free and equal and
elect their own chairman.
The supreme courts NRA and
Humphreys opinions strengthened
the bills chance TO pass. II eco
nomic confusion results from junk
ing of the NRA. many feel that
Washington should have more in
fluence over banking policies. Cur
tailment Of the presidents removal
power answers criticism that the
~u~1-t v,o,r,rwn xracfg Nr1ftfroI ron
troll over the reserve system In the
White House.
Broken-The b%onuseers on Ca
pitol Hill are marching around In
circles these days. The vigor OF the
presidents veto took the starch
out Of them. II stiffened the anti
bonus spine OF many who sustain
ed the veto but had promised TO 20
along in another try. Private polls
are discouraging for a second eff
fort.
There Is no single. outstanding
reason for the pessimism. There
are many. There are too many
prima donnas among the leaders.
Some support the bonus only be-
cause OF its inflationary POSSIBLE
tiles. Now the old-time hackers
want TO abandon the initiation fea-
ture. The compromise 10 pay the
veterans out OF work-relief funds
has raised up enemies. Some sena-
tors fear Il means that their states
will get a smaller cut Of the Hop
kins- IckeS- Walker pit
The bonus lobby groups are as
far apart as ever. The American
Legion wants TO push their favor
tie Vinson measure. The Veterans
OF Foreign wars stand by their
Patman dollars. For eX-soldiers
they keep step badly.
ReframIng-The break between
the White House and business has
been assuaged rather than aggra-
waited by the scrapping of NRA.
Some Of the most generous offers
OF cooperation which reached the
president came from his erstwhile
critics. There was very little gloat-
ing among business men and in
dustrialists.
Nevertheless. both sides are
hanging back in little boy fashion
In official circles there is some
resentment. II isn't softened by the
fact that the supreme courts de-
cisions paraphrased the RECON-
mendations Of the Chamber OF
Commerce Of the United States
and Herbert Hoover's condemna-
ton OF NRA. And SO far the tend
-nA ~ AnnWN
accepted by the administration
Mr.. Roosevelt first summoned the
men who helped 10 frame the
stricken experiments. They may
know best how to reframe them.
Harper Sihley. the chambers
president. has not vet visited the
White House, although he and
MI. Roosevelt are old friends and
college mates. Mr.. Sibley has not
asked for an appointment, and