Evening star., 1936-01-27

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This means only one thing. Industry
has had to be wary in spending its
safety reserves for expansion since the
depression. It has not yet relaxed its
caution.
Fear for Future.
The men here who make the market
for Government bonds Gin q way)
are not at all pertTbed about the
1896 prospects. but are increasingly
apprehensive about the end of it all
in the future.
They know the Treasury will
hare to do lot more new financing
this year than last. 1t raised about
$1,000, 100000 OF new money last
year. The bonus alone will require
more than that this year.
Yet the Treasury is still in posi-
tion to just about write its own ticket
with reservations) on financing. That
comedies with the Washington view
point.
A Snub From T. R., Jr.
Park Avenue political debutantes
will never get over the way T. r.. jr.,
handled the predicament of address
ing memorial dedication exercises to
his father from the same platform as
his far, far distant cousin, the Presi-
dent.
Young Teddy ,Uds surrounded BY
political strangers, including not
only President Roosevelt, but
Democratic Gop. Lehman and un-
attached Mayor La Guardia. As he
started into his otCn highly non-
political address, he boUed only to
the chairman. vho sat at his left.
and then looked straight out at the
audience, saying:
"Mr. Chairman and distinguished
guests"
The President was on his right as he
spoke. Lehman and La Guardia be-
hind him.
Conservatives o. X. Bonus.
Bonus developments were an old
story to those at the business ma
chine. Stock marketeers months ago
had figured out which industries
would get the money, and how much.
Generally, business seems to look
on the good side of the bonus. Even
some conservative authorities seem to
think 1t Is good thing to pay it and
get it out Of the way.
A business man from New York
asked Mr. Roosevelt some time ago
what he thought about a manufac-
turers' sales tax.
The President replied by asking how
much the business man paid for his
shoes. He then observed that the
business mans chauffeur probably
paid the same amount, adding:
And under a manufacturers sales
tax you would both pay the same tax"
While that occurred some months
ago, there are reasons to believe the
President has not yet altered his un-
compromising opposition despite cur
rent rumors to the contrary.
Rumors ON AL Smith.
New York is always the Nations
rumor incubator. But the chicks 1t
turned out in the few days before AL
Smith spoke set an all-time new
hatchery record.
What happened ,Dus that Nep
York believed the New Dealers
would do something important to
Offset Smith. Their infationary
in1aginations were extended for
guesseS.
New Workers do not mind being
wrong. All they want is to be new
and original.
The Labor Split.
The latest academic split between
Labor Leaders Green and Lewis still
has the same personal and political
background. only more so.
The personal angle of it is that. II
MIR. Lewis ever succeeds with his in
dustrial union program, Mr.. Green
and his A. F. Of L. associates will be
out Of jobs. The A. F. of L. would
have TO be completely decentralized
and reorganized.
The political phase is that Leyis
stands tDell tDith the New Dealers.
HE stood yell enough to get the
Gufey coal btH.J Many of Mr..
Green's A. F. of L. associates haze
Republican leanings.
Those on the top rim of the inner
labor circles are confident that the
Lewis industrial union system Is sure to
come In the long run Of future years.
Meanwhile, the A. F. of L. authorities
will be able to give Mr.. Lewis many
hours.