The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1936-07-09
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of the political picture. He has the
backing of Father Coughlin, the
Detroit radio priest, and his nation
al union for social justice and he
has the backing of the remnants
of the late Huey Longs share-the-
wealth adherents. In addition, the
Townsend $200-a-month pension fol-
lowers will be found behind Lemke
to some extent.
I have observed these third par
ty movements many times before
and usually they have failed to live
up to expectations. They nearly
always have developed fights
among themselves because the
very nature of and the very reason
for their existence lies in their
varied conceptions of what govern
ment ought to be or ought to do.
Their sincerity precludes them
usually from compromise and
when politicians refuse to compro-
mise, their organization, whatever
it may be, naturally disintegrates.
This may be the year when the
leftist segment will stick together
and if it does, it naturally threat
ems Mr.. RooSevelt's success. l con-
fidently expect to see overtures
seeping out from New Deal sources
in an effort to placate some of the
Lemke followers. 1t is a logical
piece of strategy for the New Deal
ers to seek to wean these recalci-
trant folks from the third party.
The European disturbances con-
tinue apace. It is a situation that
is extremely in
trouble teresting and one
in Europe that probably will
unfold as the
weeks 60 by, in curious ways. I
say curious because to us in Amer
lea, it has been rather difficult to
understand the meaning of many
of the maneuvers that followed the
outright subjugation of Ethiopia by
the power thirsty Mussolini of Italy.
Word that comes rather direct
from inner councils in Europe in
dictates a tremendous fear on the
part of Italy and France about
German plans. The British like
wise are displaying nervousness
and the present alliances and COM
binations of power existing in Eu-
rope are none too stable. 1t is
just possible that Germany's Hitler
may, by his present activities,
force a new cementing of these al
iances and understandings among
other powers But at this time there
is no mistaking the fact that Eu-
rope, outside of Germany, is
bundle of nerves.
1t seems that the basis for this
nervousness is rooted in the clever
scheming of DR.. Hjalmar Schacht,
who is something of an economic
dictator under Hitler. DR.. Schacht
is a brilliant negotiator. He un-
derstands economics, trade and
finance as well as any man in Eu-
rope today and when you couple
such knowledge with diplomatic
keenness, you obviously have man
capable of accomplishing results.
DR.. Schacht is employing the
methods he knows best, namely,
economic understandings, in max
ing new connections with central
European power and the Balkan
states. These countries always
have looked to England and France
for protection, especially since so
many new states were created as
a result of President Wilson's ideal
ism. To see DR.. Schacht cleverly
and cautiously gaining good will
among those peoples causes
France and Italy, and to some
what less extent, Great Britain, to
wonder what is about to happen.
Those nations always have been
nervous about German plans.
Probably the bulk of their fear
was inspired by German silence
and by the swift manner in which
German moves have been consum-
mated. However that may be, the
fact remains that none of the inn
portant powers in Europe know
what to expect as result of the
activities in which DR.. Schacht is
now engaged.
In the case of Italy, an eco
nomic weapon in the hands of Ger
,, many might east
rays ly prove disas-
Case trous because TIA.
xyir.f,,
hausted her gold reserve in the
late war and her government cam
not go on much longer in furnish
ing purchasing power for her peo-
pie. France has been able to open
certain markets to the little en-
tente and to the Balkans and has,
in addition, provided some finan-
cial aid. Thus, when DR.. Schacht
pats the neighbors of Germany,
on the back and points out where
markets can be made for them in
Germany, France and Italy quickly
develop cases of filters.
1t seems that Austria and Hun
gary cannot depend fully on Italian
markets because of the low gold
reserve in Italy. In the meantime
as well, France has been losing
millions in gold as her own do
mestic situation has been en-
broiled in political whirlpool. The
Austrians and the Hungarians and
some of the other central Euro
peans recognize that unless France
gets Strengthened out, there will
not be purchasing power available
there for their surplus produce.
So, DR.. Schacht is cultivating what
appears from this distance to be
a fertile field.
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