Evening star., 1935-03-25
WASHINGTON OBSERVATIONS
BY FREDERIC WILLIAM VILE.

It's q striking fact that while the
national debt Is going up, interest
charges keep on going down. At
present rates it is reckoned that the
debt could rise to about $35, 600 600, 900
without exceeding the interest charges
Immediately following the World War.
The present public debt of $4,000
100000 Is being carried at COM
puted annual interest charge Of ap-
proximately 1927, ,0o0. 900, as of Feb
ruary %, and at a computed average
interest rate OF 2957. In 1925 it cost
1929 $50, 900 to carry a debt just over
20 billions-s20,2 ,2ll 900, ,000-the In
terest rate being then 4.l05. In 1918,
1920 and 1921 We had an annual in
terest charge of more than billion
dollars each year During the seven
years, 1919 to 1925, inclusive, the an
nual interest charge was continuously
higher than it is now. It's the low
rate of interest at which the war
time debt has been and is being re-
funded that accounts for the great
difference in the burden of carrying
the debt. In addition, the Treasury
has about AZ billion dollars of off,
setting items against the present
debt-consisting of a general fund
and the stabilization fund leach more
than $4,000, ,000, ,000) and the Gov
ernment's proprietary interest In the
assets Of various Federal agencies.
Unless all signs fail. the congress
sjonal tug of war over N. r. A. is
going to rival both in intensity and
longevity the tussle over work relief.
It is the Senate in which the battle
royal will be staged. with mighty
gladiators, like Borah, Republican.
and Glass, Democrat, in full tilt
against the Blue Eagle. President
Roosevelt signals that there will be
no lack of combat, as far as he's
concerned. He is set in the determi-
nation that N. r. A. shall be renewed
for another two years, though ready
to accept q materially modified law.
r. D. RS wisecrack that the Recovery
Administration Is mo little Orphan
Annie" but "a very live young lady"
Is his way of letting opponents know
that he is prepared for finish fight.
With the struggle in sight and the
obstructive opportunities at the OPP
positions disposal, it's conceivable
that June Is may come and 60 before
Congress finally acts to renew the
existing statute.
Senator Borah'S recent invitation
to a White House luncheon tete-a-
tete is a tribute to the undiminished
prestige of the father of the Senate.
The Idahoan happens to be leading
spirit in three fields now uppermost
in the administration considerations
relief, N. r. A. and foreign affairs
so it's natural that President Roose-
welt should wish to pow-wow with
him at this critical juncture. EVi-
IDENTIFY big Bill" has no hard feel-
ings toward Mr.. Roosevelt because OF
the fact that the Democrats plan TO
smash Borah when he comes up Tor
reelection in 1896, and for that pur-
pose are already grooming the Demo-
cratic Governor of Idaho, G. Ben
Ross.
Now that Herbert Hoover has come
out formally against the New Deal
and called for o rebirth Of the Re-
publican party, there's renewed IN
clination among politicians TO beneve
that the former President, after all. Is
flirting with the idea of trying ms
luck again in 1886. He is due In tine
East next month for another meeting
of the New York Life Insurance Co:
Board, and his activities, in light Of
his manifesto to the California Re
publicans, will be watched with Lively
interest. Though Hoover no longer
wields paramount authority with Re-
publican leaders, he numbers many
friends among the party rank ana
file, and undoubtedly is in position
considerably to influence the choice
Of both candidates and policies.
q
On the same day the House last