The Waterbury Democrat., 1937-10-26

V4AO OSuANO AOkSesA VAAANAAV " once on price-f1xing in "con! One of the items specifically listed by the President for imme- diate probing is r1ewsprint. Prices in this commodity have zoomed in recent months, although there is neither dearth nor unusual de- mand for 1t.
 Roosevelt has repeatedly an- nounced survey of antitrust violations, and in his last fireside chat he said 1t was actually in motion.
 The statement completely baffled Justice Department au- thorities, who knew nothing about the inquiry. They had been twiddling their thumbs impatiently for months wait ing for a gO-ahead signal from the White House.
 Roosevelt apparently thought he had given 1t, but discovered his mistake after he made the speech. In any event, when he did step on the starter he told the Justice Department not to spare the gas. No Japanese
 The Navy Department received a radio message from the Far East the other day, telling of an inter- national encounter not reported ln the war dispatches. It involved not Chinese and Japanese, but British, French, Italians, and U. s. Marines.
 There was a joker in it. Here IS the text:
 INTERNATIONAL TRACK MEET. PEIPING. FIRST DAYS SCORES U. s. MARINES 20, BRITISH IT, FRENCH 3, ITAL- FANS 3. JAPANESE NOT COM PETING.
 The message was signed by Colonel John Marston, Command ing Officer of the Marine De- tdSAHASAVp 'G GSAPAA6'
 Morgenthau Victory
 There was more in the revised budget issued by the President last week than mere debit and credit figures.
 Behind, the announcements that the Reconstruction Finance Cor poration would liquidate its com- mitments was @ long-sought tri- umph by Secretary Henry Mor- genthau over REC Chairman Jesse Jones. ,.
 These two Administration big-wiSs have been secret rivals since the early days of the New Deal, when both aspired to suc- ceed the late William WOodin as Secretary of the Treasury. Young Henry was head of the Farm Credit Administration, which he had reorganlzed and revitalized. Jesse was an expe- rienced financier, an REC veter- an and a potent pOliticO.
 On the surface all the chcances seemed to favor Jones. But Young Henry, old friend and Duchess County neighbor of the President got the plum.
 Tn the four years since then, Morgenthau privately has always had his fingers crossed when Jones and the REC were con- cerned. Very sub rosa he opposed the 1885 proposal to give the REC an additional several hundred million dollars for loans to bllsi- ness men needing credit. But Jesse was too willy for him. Quiet ly pulling wires on Capitol Hill, he put the plan through-al- though afterwards he made very little use of the money.
 The undercover duel continued with Morgenthau intensifying his inner council agitation to put an end to- REC spending.
 Knowing Jesse's power in Con- gress, Young Henry laid of his drive last session. But once Con- greSs was out of the way. he re- sumed his pressure on the Presi- dent. The following remarlo in the Presidents budget summation told the story of Morgenthau's victory:
 ... I have determined that no further commitments should be made by the Reconstruction Finance Corporation, other than for administrative expenses. ..."
 This means flnis for the REC. Henceforth 1t will be merely a collecting agency for its out- standing loans.
 How Jesse will take his thump- Ing remains to be seen. Some of his intimates predict an early res- ignation.
 SnUb a
 Top officials of the American