, 1935-06-17
WASHINGTON
Nv Raw Tucker

BY Ray Tucker
l-To-3-olIVer senator's impatient
at Secretary Morgenthau'S pur-
chaSeS OF the white metal should
get out their pads and pencils. They
may learn q few things which don't
show on the treasury'S public books.
Nj. Morgenthau has bought
slightly less than 5000, 100000 OF
silver since passage Of the national
purchase act IN June OF 1884. The
monetary value Of u silver stock
before he entered the market was
above 100000 900. making the pres
ent holdings just about $780,
100000. But the total monetary
value OF silver holdings must reach
IS. 0 0.000,000 to give it the l-to-3
ratio 70 our gold stock required by
congress.
That will take more than three
years at the present rate Of pur-
chase and gold supply. Even If the
treasury corraled all new annual
production roughly estimated at
201,000.000 ounces-it could not
make the silveriteS happy short Of
that period. Not without driving
China, Mexico and india to barter.
Liberals-Republican progressives
reacted angrily 70 the conservative
platform OF the grass roots con-
Tention at Springfield. Headed by
two wealthy New Workers cunning
for the HilleS : Mills : WadSworth
faction they are Scheming 20 stage
a grass roots" parley for COP lib
erals.
They found sympathetic custom
ers when they recently brought
their idea 70 Washington. They
talked with inSurgent senator's read
out OF the party by the Springfield
aSsemblage. They conferred with
BuII Moosers who hold office under
FIR. Their plans formed the chief
topic at several skilfuliy arranged
parties and dinners. The stage man
ayers saw TO that.
The New York conpirators-ex-
State Chairman KingSland Macy
an6 ex-TreaSurer William Ziegler-
have already flung together a pro-
gleSsive committee in Mr.. ROOSe-
Velt's state. Now they mean 10
branch out. And they have the nee
essary mazuma If they're serious
about It
Divorces The Communications
Commission Is split into two fac
tons - liberals" and "cOnServa-
tIves.T It's vote requiring a breakup
Of interlocking wire directories did
hot represent its real sentiment. IL
..rr..TI AaWrn v.Afnd Nhn nfnnF mruW
except that a pro-industry stand
might have j~eopardized senatorial
confirmation.
Commissioner Sykes spoke against
enforcing the requirement. Chair
man Prall was tacitly in opposition.
Blu both sided with the liberals"
when the roll was called. The only
argument offered against the plain
mandate OF the law vas the ICES
example. Ii has severed these ties
in only 200 Of 5000 railroad cases.
But the wire corporations can
tIame nobody except themselves.
Had they submitted powerful argu-
mentS that interlocking arrange
ments were in the public interest
they might have been spared pain
ful divorces. Instead. they sulked
They merely said they wanted TO
carry on as they pleased.
BottIed-Harry Hopkins and Har-
~ Ickes will come 70 verbal blows
enc OF these days. Both relief chief
tains are hot-tempered as well as
thirsty for power.
mr.. Hopkins regulation that all
workers must come from the relief
rolls cripples Mr.. Ickes' PWA. Con-
tractors warn that they will not
entrust costly. delicate machin- ~
n people whose only qualification
Is their need OF a job. The Hopkins
requirement that actual expenditure
on a construction site shall be only
sl.4lO per man per year outlaws
MISREPRESENTATION work. IL takes
nc account OF employment given
through manufacture Of steel. &C.
ment and brick away from the job.
Not a cent OF the $4,000 100000
fund granted two months ago has
yet been spent in the field. Red
tape, the maze OF organization and
Mr.. Hopkins have bottled 1t up in
he Treasury.
Impasse-The Ickes people Sus
pect Mr.. Hopkins Of a deliberate
scheme TO gain control OF all work
relief and PWA spending. They do
rot make the charge openly as yet.
though II may pop soon.
Under the slow. cautious Ickes
system there is no hope for at
tanning a peak Of employment at
tie time set by President Roosevelt
mid November. There Is no chance
Of putting $4,000 people 70 work
within a year. Such PWA projects
as bridges. tunnels. power plants.
slum c~learances and grade cross
ings cannot be advanced SO soon.
Facing this impaSse Nj. Hopkins
Is expected TO revive his CWA un-
dertakings-raking leaves. patching
roads. building ~culverts. This will
furnish quick, light employment.