Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1937-09-30

holding life membership in the Ku
Klux Khan. Certainly the expose of
the typhoon that is swirling around
the head of the new associate jus
tice cannot have any soothing eff
feet upon the minds of those bust
ness men who, as corporation exec
utives, are trustees of vast sums of
the peoples money. Undoubtedly,
unless Mr.. Black can prove that he
is not affiliated with the Ku Klux
Klan, few litigants will feel safe be-
fore the Supreme court.
Then, there comes the resignation
of James M. Lands as chairman of
the securities and exchange COM
mission which regulates operations
of the great stock exchanges. Mr..
Lands has been regarded as rather
fair, rather just, in his dealings re-
lating to stock market operations.
His retirement to return to a pro-
censorship in Harvard, of course,
opens up the question as to his sue
cessor. This is to say that most of
the financial world is hoping and
praying that the new chairman will
not go off at a tangent; that he will
avoid extreme radicalism and that
he will not blame the whole finan-
cial structure for the crookedness of
a part of it.
Thus, it becomes easy to see how
this minor factor may have weight
with some individuals dealing in
corporate shares and bonds. Will
liam o. Douglas, member of the
commission, has been slated to be-
come chairman but developments in
recent weeks give considerable
doubt over that result. Mr.. Doug
las is recorded as being a radical.
Bankers and investors in many
parts Of the country fear that If he
is made chairman he viii become
not unlike the famous bull in china
cabinet. But, according to the un-
dercurrent of gossip around Wash
ington Mr.. Douglas has done some
thing to offend Postmaster General
Farley, and no man can draw an
appointment as important as the
craftsmanship of a great commits
sion without Mr.. Farley's approval.
Aside from personalities, various
phases of President Roosevelt's
monetary policies continue to be dis
turbing and in addition to these
there is the certainty that new taxes
must be levied. That is, new taxes
must be levied if we are ever going
to balance the federal budget and
begin paying off the gigantic nation
al debt which now amounts to more
than 38 billion. With a debt at the
highest point our United States ever
has known, a great many people,
including bankers, have become
fearful of what they might get for
United States bonds that they now
hold. It is obvious that this infiu-
ence adds to the general uncertainty
although it is difficult to measure
the exact influence of this condition,
or to see whether it is a major or
minor factor.
Having enumerated a few of the
influences known to be at work, we
come now to that
Business condition w h h
Conditions heretofore always
has been basic. I
refer to general business conditions.
New Deal press agents have tried
valiantly to make it appear that
business is booming; that prosperity
is here instead Of around the cor
ner; and that the country has moth
ing TO fear. Careful examination Of
official figures, however, show the
prosperity statements to be true
only In parts. The official statistics
disclose very definitely how some
lines Of business are enjov'-g vol