Evening star., 1938-01-29
[ONG-RANGEPR0BE|
OF FM0NOPOLYSEEN|
Joint House-Senate Group
May Make Study for
Action Next Session.

6ACh
Democratic party trnditiondlly
has been opposed to Nations mo-
nopoltes and in 1882 campaign re-
iterated this position. During first
term, hoWeDer, administration left
issue in allegiance. As current busi-
ness decline became apparent late
last tall, plans Were disclosed to
trdge relentless fight against indus
trial dominance BY comparative
- te,D of Nations families.
By the Associated Press.
Some administration supporters in
Congress said today President Roose-
velt's Forthcoming message on monop-
Oily may suggest a long-range investi-
cation rather than immediate legisla-
ton.
They said the complexity of the
monopoly problem might make it de-
slrable to set up a joint Senate-House
committee to 60 over legislative sug-
gestions and make recommendations
for the next congressional session.
An effort to enact any broad
monopoly program at this session, it
was said. might bring weeks of debate,
poStponing the scheduled May adjourn
ment
There has been no word from the
White House as to whether Mr.. Roose-
Welt has yet begun preparation of
the message. He advised Congress
early in January that he would have
such message later.
Two Ideas Urged on Him.
1t is known, however, that two di-
vergent ideas of future Government
7 business relations have been urged
upon Mr.. Roosevelt.
These views have been given public
expression by Donald Richberg, former
N. r. A. administrator, and Robert H.
jackson, Assistant Attorney General.
Mr.. Richberg advocates relaxation
OF the antitrust laws to permit busi-
ness planning under Government
supervision. Mr.. jackson would
tighten the laws in a "trust-busting"
effort
Some observers interpreted an ad-
dress by Mr.. Jackson last night at
Syracuse, N. Y, as aimed at the Rich
berg idea. In it the Assistant At
torney General said:
L have an instructive distrust of
the longtime ability of Government
to regulate rather than prevent con-
centration of control. Experience
demonstrates, particularly in the
public utility industry, that Govern
ment regulation tends too frequently
over period of time to pass under
the control OF those who are supposed
to be regulated"
Banking Advisers Divided.
Administration banking advisers.
considering the advisability of a death
sentence" for bank holding companies.
were reported by usually we'll informed
officials also to be divided.
They are agreed, these officials said.
that some regulation is needed to pre-
vent bank holding companies from
becoming too powerful, but not all
favor their abolition by Government
decree"
Recalling the bitter controversy
evoked by the death sentence" pro-
vision for some utility holding CON-
panles in the Holding Company Act of
1885 the banking advisers yesterday
conferred with Chairman William O.
Douglas of the Securities Commits
sion.
1t was learned that at this con-
ference the lineup of banking ad-
vlsers was as follows:
For abolition-Secretary of the
Treasury Morgenthau and Chairman
Jesse H. Jones of the Reconstruction
Finance Corp.
II Glass Favors Abolition.
For regulation only-Cnalrman Mar
rlner S. Eccles of the Federal Reserve
Board and Chairman Leo T. Crowley
OF the Federal Deposit Insurance Corp
Undecided-Controller of the Cur
rency J, F.. T. O'Connor (who will
leave office April d.
OF this list, Secretary Morgenthau
and Mr.. Crowley were said to be most
willing to compromise or shift in the
interest of harmony. Mr.. Crowley
was reported to be opposed to bank
holding companies in principle, but
dubious of the wisdom of abolishing
them until efforts at regulation had
been made and tried.
President Roosevelt indicated re-
Gently bank holding companies we're
next on his list of holding companies
slated for extinction or rigid regula-
ton.
Senator Glass, Democrat. of Vir-
einia, author of much of the Federal
Governments banking laws, also would
abolish the holding companies. He is
drafting bill to give them five years
in which to dissolve.
Much of congressional discussion of
Government business relations re-
Eolved about the Borah-O'Mahoney
bill which would provide for Federal
licensing of corporations engaging in
interstate commerce.
Varying expressions also were heard
on the advisability of delaying enact
ment of new antitrust measures.
One administration adherent, SEN
ator Minton, Democrat, of Indiana,
said he thought legislation to curb
monopolies should be considered at
the current session. He expressed ap-
proval of the Borah-O 'Mahoney bill.
I'VE would get somewhere toward
regulating monopoly if we had it,"
Minton said.
Senator Schwellenbach, Democrat,
OF Washington, an administration sup
porter, objected to the licensing bill
on the ground that it might lead to
vascism. He approved the idea of a
study Of the monorosy problem, sug-
gesting it might be made by the Fed
eral Trade Commission.
Senator Borah discussed monopoly
questions in luncheon call on Mr..
Roosevelt YESTERDAY. and friends Of