, 1935-01-03
WASHINGTON
BY George Durno

~ 0NoAbt DuiihD
Preyious-One member Of the
august Senate which convenes
Thursday finds himself, or fancies
himself, in a constantly embarrass-
ing position.
The gentleman in question IS the
Honorable Arthur H. Vandenberg,
junior Republican Senator from
Michigan
V~andenberg has been prominently
mentioned as the 1886 G.. o. P.
choice for the presidency ever since
his reelection last November IN a
decidedly democratic year. Now he
is fearful that everything he says
OF does will be interpreted as a bid
for top honor in '36. For that reason
he is declining all out-of-town in
vitationS to speak.
Some of Vandenberg's close
friends are counSeling him 10 for
get the maybes and function just
as usual.
After all, Vandenberg's sol 900
majority OF 1923 shrank to less than
200.O 900 last election. The lightning
may never strike him. they argue.
The senator didn't do himself any
too much good by campaigning last
fall in a shiny Packard car through
districts chock-full Of relief rollerS.
Finally. Vandenberg is no fool as
a politician. He would be much more
flattered if the unofficial nomina-
tors talked about him as republican
candidate in 1870. Unless something
unforeseen happens it isn't going 10
be much fun running against Presi-
dent Roosevelt in 1886.
ShelI-SharpshooterS who used to
turn an easy penny selling blue-sky
stock 10 suckers are reported TO be
concentrating now on bonded
whiskey warehouse receipts.
Beware If some fast-talking bur-
glar tries 70 interest YOU In buying
these receipts. An individual is
hardly qualified to withdraw any OF
the liquor his receipt calls for I'M
less he is prepared TO 20 10 conSid-
cradle expense. Depending on state
regulations. it would have 10 be
bottled or stored. or both. and eth
er costs money.
II Is understood the distilling in
dustry has taken c%ognizance Of this
newest shell game and is planning
steps Of its own 70 mop up the
racket
ResOurces-Federal Reserve banks
hold nearly $1,000 900 more in gov
eminent bonds than they possessed
last year at this time. From all that
can be learned. the financing of the
1885 New Deal program is TO be &C
complished by additional borrow
ings from the banks. Extra taxa
ton is TO be avoided II possible
that is. in the lower brackets.
With holdings of $1,000, 600 900 in
federal securities the banks are Wit
ally concerned in maintenance OF
government credit. A small drop IN
bond values would mount up 10 a
staggering sum.
This would make the big, bad
bankers think twice before build
ing a fire under the c Roosevelt
program if II weren't for one thing
The bolstering OF government bonds
at n cost Is fixed Treasury policy
and Secretary Morgenthau has
resources sufficient 10 meet any
thing short Of a financial hurri-
cane.
Wart-CubanS and Hawaiians will
make an effort during this session
OF congress 10 have the sugar quota
law revised. Both islands are con-
WINGED they have been sinned
against.
Hawaii can't find a market for
100000 tons surplus above her quota
that formerly found sale in this
country. "A New Dealer Just return
ed from Honolulu wonders why the
Hawaiions don't 60 in for manufac-
turing rum.
Cuban interests hope to convince
the State Department that the rec
iprocity treaty concluded last Sep
tember is working hardship on ac-
count OF the restricted sugar
quota. Cuba wants permission TO
send in $4,000 900 tons instead OF L.
90c 900 tons.
Secretary Wallace. whose in
fluence is potent in the making Of
reciprocity agreements. * supposed
10 be agreeable TO enlarging the
sugar quota. He has told congress
that he regards the domestic sugar
industry as superfluous and unec-
onomic.
Pick Up-Heavy indstry is going
forward a little. This nightly en-
courageS the segment that banks
upon recovery through private en-
terprise as against public works
spending. There's much Skepticism
in congress as to Public Works Boss
IckeS' ability to ret several million
q ~ H.