Evening star., 1938-03-14

ences of the last five years, and tn
termination and development of m;
starred N. r. A. to the Supreme Cour
How 1t All Began" would be ar
ographic transcripts, released at the
White House today. covering excerpts
OF presidential-press banter and seri-
Gus discourse at Is of the 1872 in
formal press parleys held in the Pres
ident's Office between March 8. 1898,
and December 29, 1886. The same
material was given to a magazine
which has purchased other White
House documents All will be pub
lished later in book form.
The shorthand reports included
sundry .'off the record" conversa-
tions The whole record was punctu-
ated sporadically with laughter and
levity-and at more sober intervals
with rnomentous comments that were
to be heard round the world"
Horse and Buggy Reference.
Here, for example. is exactly how
that "horse-and-buggy" reference to
the Supreme Court originated.
You see the implications of the
decision President was dis
cussing the Supreme Courts invalida-
tion of N. r. A. codes. That is why
say it is one of the most important
decisions ever rendered in this coun-
try. And the issue is not going to
be partisan issue for a minute The
issue is going to be whether We 90
one way or the other
Don't call it right or left; that is
just first-year high-school language,
just about. 1t is not right or left
it is question for national decision
on very important problem of Gov
eminent. We are the only Nation in
the world that has not solved the
problem.
I'VE thought we were solving it, and
now it has been thrown right straight
in our faces. We have been relegated
to the horse-and-buggy definition of
interstate commerce :"
Phrase Carried to Nation.
Question by reporter-Can we use
the direct quotation on that horse
and-buggy" stage?
The President-I think so.
Mr.. Early (secretary to the Pres
ident)-Just the phrase.
Within a few moments telegraph
and telephone wires were carrying to
the Nation the phrase that was to be
flung back and forth in the bitter
battle over the Presidents later pro-
posal to reorganize the Supreme Court.
Managed currency" another New
Deal phrase. was mentioned by the
President at his first press conference
on March 8, 1888, but. cautious over
the troubled financial situation OF the
moment, he refused to let reporters
quote it at that time.
I'VE hope that when the banks re-
open great deal of the currency
that was withdrawn for one purpose or
another will find its way back" Mr..
Roosevelt remarked in that critical
time. I'VE have got to provide an
adequate currency. Last Friday we
would have had to provide it in the
form of scrip, and probably some addi-
tional issues of Federal bank notes.
If things go along as we hope they WILL
the use of scrip can be very greatly
curtailed, and the amounts of new
Federal bank issues, We hope. can be
also limited to very great extent.
on the Record.
I'm other words, what you are COM
ing to now really is a managed cur
rency, the adequateness of which will
depend on the conditions of the
moment. It may expand one week
and it may contract another week.
That part is all off the record"
Can we use that part managed?" a
reporter asked.
mo. I think not :"
when you speak of a managed
currency. do you speak of a temporary
proposition or q permanent system?"
1T ought to be part Of the per-
manent system-that is all of the
record the President replied. 1T
ought to be part of the permanent
system, so we don't run into this
thing again :"
A week later Mr.. Roosevelt disclosed
his ideas for putting men to work in
national forests project which later
took form as the Civilian Conservation
Corps.
"The idea," he said. lis to put
ueonle tn work in the national forests
and on other Government and State
properties, ON work which would not
otherwise be done: IN other words,
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