Evening star., 1936-10-26
WASHINGTON OBSERVATIONS
BY FREDERIC WILLIAM VILE.

skyscraper throughout the civil war. OF
!. T. & T.'s 1927. .000, ,000- odd of foreign
investment, some SCI, 900 600. or about
20 per cent, is represented by its Spanish
holdings under a concession granted by
the Madrid government in 1924. If the
Fascist forces win, Wall Street believes
that danger Of confiscation of the prop
erty will be eliminated. Until the civil
war broke out, the companys earnings
this year were highly satisfactory
I. T. & T. also has big stakes in Argen-
tina, Mexico, Chile, Germany, Cuba and
Rumania, including both telephone sys-
TENS and manufacturing plants.
X
Financial and industrial authorities
are unit in believing that whoever wins
on November 8, business will survive the
shock and maintain its upward trend.
There's at least one trade due for a
sudden and severe slump, especially here
in Washington, where its product is dis
tributed in torrentS-namely, the buSi-
ness Of grinding out mimeographed
political material for the press. For
months 1t has come forth in reams and
streams of news releases" irreverently
known as Handouts" Ever since the
tWO 1ldtlOlldl COllfCIlIlOllSy 1lCWoPdHClo .
and newspaper men and women have
been drenched and deluged with mimeo-
graphed propaganda in the form of
speeches and other dope, much of which
met an ignominious waste-basket fate.
New Deal Government departments,
especially the newer recovery and relief
agencies, contribute endlessly to the
mimeograph flood. No recession Of the
peStilence Is probable in those quarters,
but there will be noticeable and well
come decline in political handouts the
moment the presidential tumult and
shouting are over.
Secretary Of the Treasury Morgenthau
wins a bouquet for one of the few
notable wisecracks of the campaign. He
wound up his radio speech to the Good
Neighbor Leagues pro-Roosevelt "busi-
ness dinners" the other night by saying:
"Some people are broadcasting America
short. No one is fool enough to sell
America short"
If Great Britain were Japan and
Edward VIII the Mikado instead OF King
of England, the chances are that Sir
Ronald Lindsay, his Britannia maJesty's S
Ambassador to the United States, would
be showing up at the State Department
these days to demonstrate against the
publicity which his sovereign is now
getting over here in certain romantic
connection. A year or SO ago Toxic
protested vigorously against mere car
toon in an American periodical which
was considered to reflect upon the dignity
of Emperor Hirohito. The position OF
the United States Government on such
occasions is that this is free country
with free press and that Journalism
is a field into which Uncle Sam never
pokes his nose. There are diplomats in
town who'll tell you that the Simpson
case, and all and sundry Herewith
connected, are not designed to strengthen
the Anglo-American entente cordiale.
With former Undersecretary Dean
Acheson and former Treasury Adviser
James p. Warburg supporting Roosevelt
because of the Hull reciprocal trade pro-
gram and former Budget Director
Douglas lined up for Landon (though
he, too, likes the trade agreements) the
original New Deal Treasury staff Is a
house divided against itself. The score.
It's thought, might tip the other way II
Oliver M. w. Sprague, former executive
assistant TO the Secretary. and former