Evening star., 1935-12-30

Mr.. Nye's beagles did not need to
go into the books to find that out.
All they had to do was to open the
big front door Inside, they found
less activity than in the business Of
flee of Senator Nye'S Cooperstown, N.
Oak. Daily Bugle.
Partitions formerly shielding the
offices of muntf%udinouS partners have
been generally eliminated. A long
table has been moved out into the
center of the entrance corridor to
keep the place from looking like the
empty hockey arena at Madison
Square Garden. 1t fails to cover up
the vast wilderness of marble flooring.
Await Market Reopening.
The answer is that the remaining
Morgan partners are sitting around,
awaiting the reopening of the capital
market. They appear to be prepared
for long wait.
The banking end is being
handled elsewhere by other part
ners. 1t is supposed to hGUe been
doing a business in keeping tUitE
old standards, since it iUaS diUorced
from the old house By order OF the
neiU banking act.
But no one is doing any security un-
derwriting business Of any major con-
sequence these days. None has been
done since the depression. Cos
sequently, the evidence to be disclosed
about the Morgan business will be
in the nature of ancient history, spe-
cifically pre-war history.
Wants Propaganda Data.
The real reason Nye wants to inter-
rogate Morgan is to make public some
data about the influence of interna-
tional bankers in connection with pre-
war allied propaganda. Morgan then
was fiscal agent for the British and
French governments. Nye is supposed
to have received his data, not from
the Morgan files, but from the State
Department, but the department will
not let him make its information pub
lie. 1t concerns international rela-
tions with friendly nations. Senator
Nye thinks he can develop the same
information by asking Morgan hypo-
thetical questions.
TugweII Learning.
There was reason why Prof. Rex
Tugwell's remarks at the American
Economic Association in New York
were Sparingly printed. He acted as
chairman of the opening meeting,
spoke a piece about rigid and flexible
prices. News men apparently were
able to catch only few lines here and
there.
Atterward, the ,Uhole assembldoe
of economists noticed that tt0o
newS men 1Dent up to him, Obvious
ly asking for copies OF his address.
They also SdD him shake his head.
The professor is learning.
Note.-No new price theories we're
advanced by Tugwell. The address
was not considered of major economic
importance.
New Hoover Personality.
Commentators have been marveling
at the so-called new Hoover person.
atty, attributing the change solely to
his friend and publicity adviser, Ben
Allen. The change is not surprising
to any who really know Hoover. He
was never naturally as grim as during
his White House tenure Before and
after that, his intimates knew him as
a man of good humor and even as
author of a few wisecracks. What ap-
pears to have happened is that he is
loosening up, becoming more natural.
Allen has been a help, but most Of
Hoover's recent remarks were his own.
Income Tax Bludgeoning.
Tales continue to arise on the inside
here and in New York about the ad-
prosecuting and perse-
cutting its political enemies through
income tax procedure. Some New Deal
ers laughingly admit It, but not in
such a way as to guarantee the au-
of current broad suspicious
that an income tax campaign is being
conducted on political grounds.
Latest taxpayer to suffer is sup
posed to be nationally knolDn
dnti-RooseUelt Democrat in New
York. His tar troubles developed
about the time it became generally
knoUn that he mould shortly make
political speech.
Another prominent New York Demo-
crat has been complaining to his
friends that Treasury agents are using
threats of fraud prosecution to