The Waterbury Democrat., 1939-09-08

W4UA1 AACACA d4ACy, A1N4o0AAAS
Various Cabinet members cited
the difficulties of the Wilson adj
ministration when war broke in
1914, and how the same mistakes
could be avoided in 1899. Toward
the end of the discussion, the
President quietly dropped this
piece of advice to his official
family:
There is one thing we must
keep in mind all the time, and
that is that we can't fool the
people. We have got to put our
cards squarely on the table.
We must keep the people fully
and honestly informed as to
what is happening and why.
We cannot make the same mis-
take Of those abroad Of with
holding the facts from the pub
Lie. We can trust the intelli-
gence and judgment of the
American people to do what is
right. This country is a de-
mocracy and we must adhere to
democratic processes"
RETURN OF MORGAN
One fact Roosevelt revealed to
his Cabinet was that the new
War Industries Board was in
tended only as a temporary adj
visory body and would not be-
come a permanent administrative
agency like its 1917 original. Be-
hind this assurance was great sig
nificance.
Several of his Cabinet had COM
planned to him that dynamic As
sistant Secretary of War Johnson,
in mobilizing industry, had &C
complished something whcih the
combined power of Wall Street had
not been able to do. Johnson,
they feared. had restored the
House of Morgan to a key stra-
tegic position in Washington.
Careful study of the War In
dustries Board shows that four of
seven members are close personal
and business intimates of the great
j. p. Morgan company. They are:
Chairman Edward r. Stet-
tinus, Jr., 37-year old head of
the giant U. S. Steel Corpora
ton, which is closely allied with
the Morgans.
Walter Clifford, president of
American Telephone and Tele-
graph, which has strong Nor
gan connections.
John L. Pratt, director of Gen.
eral Motors, with Morgan and
Dupont ties.
John Hancock, of the Lehman
Brothers banking firm, and a
Morgan intimate.
The last selection particularly
Infatuated the inner circle, be-
cause Hancock was the leader of
a Wall Street drive last winter to
gut the Securities and Exchange
Commission. The last thing Will
liam o. Douglas did before going
on the Supreme Court was to blast
Hancock as a Morgan stooge.
No labor man was appoited to
the War Industries Board to bal
ance this lineup of Morgan men.
Meanwhile George Harrison, vet
eran president of the New York
Federal Reserve Bank, has gone in
for some heavy Morganing on his
own account. A committee he APP
pointed to advise" him on fl
nancial problems arising out of
the European conflict has as its
principal members Henry s. Nor
gan, of Morgan, Stanley & Co.,
son of the international financier:
william c. Potter, chairman of
Guaranty Trust Co., a Morgan
bank; and Frederick II. Ecker,
head Of the Metropolitan Life In.
surance Co., and a close ally of the
Morgans.
incidentally. J. p. Morgan g. Co.,
Guaranty Trust, and Metropolitan
Life all are under investigation by
the monopoly committee.
WAR TENSION
You can't walk along West Ex-
eGutive Avenue, between the White
House and the State Department,
without sensing the tension of the
two establishments. People stand
on the sidewalks, gaping at the
doors as If they expected a movie
star.
The heavy cars of sound movie
crews are parked In the space
reserved for diplomats. Photogra-
pliers stand at the entrances,
cameras perched on tripods. ready
for action.
A newsman coming out Of the
State Department stared at the
crowd and said to q cameraman,
whats all the shooting for?"
'The people are waiting to see
us take pictures" said the CAM