The Western news. [volume] (Libby, Mont.) 1933-current, 1939-02-09

- = IElliEa DIT Oil ~ Will
rpuanna5v be of his own Volt
ton.
The driving force behind the move
to get Morgenthau out of the treas
ury does not come from the White
House. It comes from Henry Nor
genthau Sr.. father of the secretary.
The elder Morgenthau thinks Henry
has given enough of his time TO the
government. He is proud Of his
son.
Although the secretary of the
treasury has never made any pub
lie statements which seemed to
disapprove of any New Deal poll
cies, always was extremely loyal to
the President, and carried out White
House orders TO the utmost of his
ability, nevertheless he has stood
out as one of the sound apples in
the New Deal barrel. AS one or
two New Deal critics have put it,
he has seemed to be sane man
entirely surrounded by crackpots.
In most of the battles Waged in
side the New Deal on spending,
pump printing, relief, taxation and
harassing of business, Morgenthau
has always been on the conserva-
tive side fighting as long as there
was a chance, but loyalty obeying
the decision, once F.DR. made it.
On Side OF Orthodoxy in
Fights ON Fiscal Afairs
Most important Of all, the news of
these encounters, these fights OF
Morgenthau on the side of orthodoxy
In fiscal affairs-as for example
budget balancing-never came from
Morgenthau. 1t is very probable
that Morgenthau's battles inside the
New Deal would never have be-
come known had it not been for his
opponents in these battles, who fed
the stories out to sympathetic news
paper men while they were still hot
with indignation against Morgen-
thau's stubborn arguments in favor
of the old-fashioned thrift theory of
economics.
incidentally, Morgenthau has been
almost lone wolf. Even some OF
those who agreed with his econom-
les, for example Jesse Fl. Jones Of
the Reconstruction Finance corpora
ton, have not liked him overmuch.
But through it all Morgenthau has
remained the close friend of the
President. Mrs. Morgenthau has
been the close friend of Mrs. Roose-
welt, and of their loyalty and devo-
ton there is no question whatever.
Joe Kennedy, curiously enough,
has not seemed to realize in what
a whispering gallery he was living.
This is strange, for he was obliged
to listen to volumes of advice about
the dangers of what he might say
while the State department was CIV
ing him the college course in diplo-
macy to which it subjects all polti-
cal appointees in the diplomatic
service before permitting them to
sail for foreign capitals.
Kennedy, it is very reliably re-
ported, has made sefae very point
ed remarks about the New Deal 10
certain American friends. And
these, with extraordinary prompt
ness, have been repeated to F.D.R.
by gentlemen who would be pleased
to have Kennedy's foot slip.
Big Insurance Companies
Soon TO Be Investigated
Very shortly the monopoly inves-
tigating committee will turn its at
tention to the big insurance compa-
MES. Ever since there has been a
New Deal there has been an eager
ness on the part of the left wingers
10 get after these huge financial in
situations.
The two things that Will be gone
into very thoroughly, according to
the frank statements of those inter-
ested, will be the investment policy
of the arrangements of these COM
panies, and the loans that the COM
panies make on policies. A bitter
battle is expected here, for the in
surance companies have good deal
Of the pride of authorship or
achievement, SO to speak, in their
investments, and they feel very
strongly against liberalizing their
policy loan system.
This last can be dismissed SO
briefly that it will be stated first.
Insurance officials usually favor a
per cent interest rate on such