The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1935-01-04
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National Topics Interpreted - ff7771fTf@
by William Bruckart knEIffT
by William Bruckart

WITCH Tic IcpuDllCdu minority COulu DC
of distinct help to the administration
but apparently, that is just the thing
the Republican minority is not going
to do.
The administration is now examin-
Ing various avenues of a possible COM
promise on the bonus payments and
1t is through this course that a hope
exists on the part of administration
leaders to avoid the showdown men,
toned above. Knowing that 1t cannot
count on the Republican minority for
any help to carry through its plans,
the administration may make some
concessions to the bonus advocates.
These most certainly will be made un-
less count of noses by the leadership
shows little later that the support
ers of full bonus payment can be
whipped-and right now that Is gener-
ally considered by observers as being
impossible.
Here again the views of radicals
and conservatives clash. There will
be some radicals supporting the bonus
payment I'm order to force the Presi-
dent into q position where he must
initiate the currency further. That
group thinks imitation of the currency
will boost prices and provide the nee
essary hypodermic injection to get US
out of the depression. Opposed to
these are a considerable number of
house and senate members who fear
imitation and its results like they fear
the poison fangs of rattlesnake So,
when the bonus question is Joined as
an issue it seems to me we will see an
interesting exposition of how politics
makes strange bedfellows.
President Roosevelt Is about to open
up the federal treasury for loans to
cities to provide
Federal funds for construc-
Loans to Cities ton of municipal
light and power
plants. He has announced definitely
that he favors this procedure and,
therefore, In effect has invited cities
to join the march on Washington for
more federal loans
The newest development In the ad-
ministration program of loaning money
here and there seems to have resulted
in repercussions of more important
nature than objections voiced to 9TH
er types Of federal loans. Here in
Washington considerable discussion
ha ta th4 wis % Is
policy and this has been followed by
speculation as to the ultimate end Of
a program of this kind. Opinion
throughout the country apparently has
not been definitely crystallized yet but
from all indications it appears we are
due to hear much debate on the new
est New Deal idea.
Directors to the program of provid-
ing loans to cities for construction Of
municipal light and power plants in
sist that Mr.. Roosevelt has taken the
longest step toward state socialism
thus far to be made part of his New
Deal. They contend that Mr.. Roose-
velt has gone beyond his recovery pro-
gram and has embarked upon a plan
representing part and parcel of his
scheme for public ownership Of all in
dustries impressed with public in
terest through service of monopolis-
tic character.
Opponents also argue that the Pres
ident is placing privately owned indus
tries under severe handicap by fore
ing them to compete with what should
be private industry but what actually
is their own government.
In some quarters also hear express
sions of a fear that If any substantial
number of cities borrow federal money
to build their own light and power
plants, the federal government will
have expanded to that extent it's DOM
ination over those cities. Through
loans to banks, to agriculture and to
many other lines, federal influence daily
is being exerted upon the private life
Of the country until, some observers
declare, states, counties and munich
palities are gradually sinking into OBJ
livion insofar as their own self-gov-
eminent Is concerned.
On the other hand, such advocates
of public ownership as Senator Nor
ris of Nebraska, are elated over Mr..
Roosevelt's decision to proceed along
public ownership lines. Senator Norris
believes Mr.. Roosevelt has authority
now under public works and recovery
act provisions to promote publicly
owned light and power plants about any
place he pleases. The Nebraska sen.
ator, 1t will be remembered, was the
spearhead of the movement that re-
suited In creation of the Tennessee
Valley authority and the program for
development of electrical energy from
the Muscle Shoals dams In the Ten
nessee river. Already, privately owned
light and power companies In many
sections contiguous to the Tennessee
river plant have been virtually forced
to sell their properties to the iva.
While there are no records available
In Washington to substantiate this
statement, 1t Is common talk here that
in most instances the privately owned
corporations were forced into a posi-
ton where they had to sell their prop
critics at less than the amount at which
they would be valued in normal bust
ness practices. -. /.
OF course, through the whole pic
ture runs constant claim that lnti:
vidual users of electrical. energy: iri
the IVA area will obtain the current
at lower cost than If they bought
the same energy from private plants.
This is made possible, the opponents
of public ownership claim, by. the fact
that the government has not set up
capital for the plant equal to the &C
tual expenditures made there. One