The Waterbury Democrat., 1936-10-05

Nine Old Men been on a hot they don their robes for the
 Reason is that they are called upon to rule immediately on two vital New Deal laws, almost cer- tain to throw the court into the very middle of the presidential campaign.
 These two laws are the MUNICIPAL BANKRUPTCY ACT and the NEW YORK MINIMUM WAGE ACT, which although state law rather than New Deal-was inspired by Roosevelt friends and stands for the same principle Roosevelt stands for.
 Both of these were declared un- constitutional by the Nine Old Men last spring, or rather by five out of nine of them. But now the government and the state of New York have asked for rehearings.
 To grant a rehearing 1t is nec- essary for at least one of the five conservatives to change his mind and indicate that there is suffl- cient doubt about the courts ear- Her decision to have the case ar- gued again.
 Anti-New Deal Phalanx
 But the five conservatives rep- resent an almost solid phalanx against the New Deal. Inside word has it that Butler and Me- Reynolds are most vigorous in their opposition to any rehearing, and are exerting their influence upon conservative colleagues.
 Justice Roberts is the key man to keep your eye on. He has been influenced by public opinion in the past, but his close friend Jus tice Butler hopes to see that he does not switch today.
 HOWEVER, if the Supreme these two laws, public reaction Court vet0es 3 rehearing on is sure to be against them. Gov- ern0r Landon already has come out for 9 minimum wage. Both democratic and republican par- ties are for it.
 Furthermore, in the Schechter sick chicken case the court had claimed that industrial regulation such as, minimum wages was the Jurisdiction of the state, then then turned completely around in the New York minimum wage case and said the state could not regulate wages. That is why the state of Illinois has now joined the state of New York in asking for rehearing.
 Municipal Bankruptcy
 Notification of the municipal bankruptcy act leaves the cities of the country in 8 tough spot. The law was originated under the Hoover administration, though passed under Roosevelt. It re- ceived the approval of banking circles and of both political par- ties.
 Its chief purpose is to prevent racketeering among little groups of municipal bond-holders who attempt to get fancy prices before permitting municipalities to read- just their bond issues.
 Any negative action by the court now would be unpopular, definitely would aid the re-elec- tion of Roosevelt. That is the last thing the court conserva- tives want to do. Yet they are equally opposed to approving these two acts.
 Hence the dilemma. Ordinarily they could postpone a decision. Decisions on regularly argued cases sometimes are postponed for weeks. But these are requests for rehearings. They must be de- cided within one or two weeks.
 THUS THE COURT IS AL MOST FORGED TO CAST THE DIE BEFORE NOVEMBER 3. High Finance
 In the portfolio of one of. Wash- ington's most prominent banks is a note of Daniel Webster, bearing the indorsement of Henry Clay. Here is the story behind the docu- ment:
 Needing some ready cash, web- ster applied at the bank for a loan. He was told he could have the money, provided his note was indorsed by 8 person of known integrity and substance.
 As he was leaving the bank, Webster met Clay.
 "T didn't know you banked here, Daniel" said the great Kentuckian.
 q don't. tried to get loan and they told me I would have to get an indOrser.-
 "H0w much did you want to b0rrow?"
 Five hundred dollars"
 Fine" said Clay. T came here on the very same mission. Now I'll tell you what we'll do. Make out your no+e for S1,000 instead of $500. I will indOrse 1t, and then you can lend me half."
 Webster agreed to the plan, the bank accepted Clay,s indorsement and turned over the $1.000.
 Merry-GO-R Round
 Big plans are under way for the celebration of Justice Brandeis' eightieth birthday, November 13. The justice has been spending the summer reading books on his wide veranda overlooking the sea at Chatham, Mass.