The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1937-10-26
Paul MallOn--.
NeWS Behind
The NeUS

~ prove simple compared with
balancing the statements now
being made about it. The words
do not seem to add up any
easier than the figures.
For instance, Mr.. Roosevelt
was emphatic in his agricultural
letter to Congressional Chair
men Smith and Jones. He said
the new farm legislation would
have to carry new taxes financ-
ing it 100 per cent, because the
budget must be balanced. In
other words. he was trying to
prevent a new farm drain on
the Treasury without replenish.
ing provisions.
But at the very moment the
letter went forward certain Ag-
riculture Department experts
were figuring up a new drain
which the President did not
mention.
They were following Agricul-
ture Secretary Wallace'S inStruc-
tons to work out a corn loan
program of possibly IS or IS
cents and, under no circum-
stances, less than 40 cents per
bushel. The workers understood
then that the policy Of max
ing the loans already had been
decided upon and would be an
nounced at the proper time.
IN his Western trip Mr.. r.
" drew a picture Of budget
optimism which was strongly
convincing.
But a week after his return
he gave out the mid-year budget
summary with a deficit which
must have made his face about
two shades deeper than the
figures. It presented the exist
ing picture as slightly worse
than had been expected, and
much worse than the official
tipsters had been whispering.
While it did not ruin his
hopes for next year, it certainly
did not boost them.
Around the inside, there is a
story that the President was
misled into over-optimism by
erroneous confidential estimates
before the final figures were
prepared.
The story implies that Messrs.
Morgenthau and Bell led the
Chief out on a limb, and later,
by corrections they were forced
to make before the figures were
released, sawed it off on him.
GONE of this budget confu-
~ sion may be explained away
by the fact that half the time
officials are talking about this
year, half about the next, half
about one situation, half about
another. For instance, this con-
Sideration may reconcile the
Presidents intention of getting
100 per cent taxes for future
farm relief while being willing
to finance corn loans now.
1t may further explain why
he was quoted from Hyde Park
a week back as predicting a
budget balance without new
taxes and then, a week later,
proposing 100 per cent farm
cost taxes.
TODAY'S 1910 Special-James
A. Farley, 40, by all odds
foremost possibility now; win.
ner of two national newspaper
polls so far. While he is not
officially in the race, every
one knows he unofficially has
one foot in.
Friends and enemies rate him
and his chances thus:
A truly great salesman and
organizer; bad for radio, fair
speechmaker. tops in personal
handshake campaigning; needs
some executive background to
balance his political character.
and apparently is out to get
it in his Pierce-Arrow job and
possibly a New York guberna-
torial campaign Qatest dope is
the Pierce-Arrow matter depends
on financing and the capital
finance market is not so good;
thus his departure may be de-
layed); can get labor support,
possibly farmer, but probably
not La Follette-Norris or South
ern; Roosevelt may have the
people. but Farley has the or.