The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1938-07-07

| unusual type or investigation and Is
to be managed in a very unusua.
manner. The committee that viii
do the job is made up of three sena.
tors and three representatives, ano
a representative from each of e
number of executive departments
and commissions. And the impor,
tant fact in addition is that the
$500, 900 which the investigation will
cost will be expended under the di.
rection of President Roosevelt.
To bring it own to simple terms,
when congress adopted the resolu.
ton for the inquiry, the board OF
strategy was able to turn on enough
political steam to force adoption Of
an amendment placing the funds I'm.
der the direction of the President,
rather than under control of con-
gress, as usually is done when con.
gress participates in an investiga-
ton. That action means that inves-
tigators for the committee will be
able to rely upon laws covering in
quiries and searches made by the
department of justice, the federal
trade commission, the securities
and exchange commission and the
national labor relations board,
among others. The combined pow
ers will be all-comprehensive.
To explain further the full mean
ing of these broad powers, it is nee
essary to cite constitutional provi-
sions prohibiting illegal search and
seizure. The investigators for the
committee must be able to dig deep
into private records Of any bank or
corporation or individual if they are
to accomplish fully the desire OF
the board Of strategy for complete
exposure of all the secrets Of bust
ness. When they get all of those
records, of course they can analyze
them and place their own construc-
ton on the business practices. That
Is today, by inference and innuendo,
hint or open charge, the investiga-
tors can smear anything or any
body-and the newspapers will
spread the information. It being
an official investigation, It will be
followed closely by the press and,
as usual, there will be little chance
for the individuals to reply. When
they are marked to be smeared,
they will be smeared, whether Justly
or unjustly. It is a deplorable
thing that our government stoops
to that sort Of thing but it has
done so in number of instances.
Now, as to the main detectives.
Every indication is that the guiding
hands in the pro-
Hit Morgan jected investiga-
And Dupont ton are deter
mined to destroy
two great masses of capital.
mean, they intend to break up the
combination Of men and money in
two instances. The banking house
of j. P. Morgan and company, and
the huge industrial setup of the
DuPonts are marked. Whether they
like it or not, those two groups are
to be made the goats of the depres-
sion of 1878, and those on the
inside recognize that it is a fight
to the finish. There will be other
corporations, other individuals,
whose business lives will be laid
bare, but the Morgans and the Du-
Points are the real targets. The
board of strategy believes the Nor
gan bank and the DUPONT interests
are chiefly responsible for the refus-
al of business to yield on many Of
the crackpot ideas of the professors,
and so it is inevitable those two
groups will be cast as the villains.
There arises, next, the question
whether such an investigation and
such prosecution as has been start
ed at South Bend will do the country
any good. One ought not PREJUDICE.
It may be that the motor magnates
and their corporations are guilty as
pups. 1t may be that the Morgans
and the DuPonts and scores Of
others among families with great
fortunes have set about to wreck
the New Deal. But the question in
my mind is: why has it not been
discovered before? It seems to me
that if there was so much corrup-
ton, so much improper influence be-
ing exercised and such illegal use
of moneyed power as is represent
ed by those who were pushing the
investigation, it should have been
several years ago. Mr.. Roosevelt
has been in Office FIVE years and
it appears strange that there was
no effort to uncover these demons
until the business of the country as
a whole lost confidence in the poll
cies of the national administration.
These developments have come
along as the depression grew worse.
They reach their climax of prepara-
ton at a time when another fed
eral agency, the board of governors
of the federal reserve system, says
that the industrial depression in the
United States now is the worst in
the world. Neither England nor
any other industrial country abroad
has experienced depression that
has been as precipitous as the Unit
ed States is experiencing, the
board said in an official statement.
The power is not given to me to
determine the numerous and varied
facts, but the processes of deduc-
ton eliminate many possible causes