The Western news. [volume] (Libby, Mont.) 1933-current, 1939-12-28

ment attacked Finland this govern
ment would stop buying gold from
the Soviet.
Not only that, but this government
would serve notice on all the other
governments in the world, including
especially Japan and the nations now
supplying Russia with war materi-
ais, that if they took any Russian
gold in payment for their products.
or in any other way, the United
States would no longer buy gold
from them.
The expert in question is absolute
ly confident that, if this had been
done, Stain would not have dared
proceed against Finland. He points
out that there might be some en-
barrassing consequences, in that the
net result might be to freeze gold,
and thus add another handicap to
world trade. But this, he insists,
would be worth the cost.
Scheme You'd Not Cost
u. ). Government Dollar
One attractive part of the scheme,
he explains, is that it would not cost
the United States government a dol
lar or the risk of one life. All it
would cost would be such exports as
this country is now able to make to
Russia, and for which Russia is
paying in gold. This country could
still sell to Soviet buyers all that
they could pay for in goods. The
only complication would be that it
would no longer take. gold
The worst complication about the
plan is that it would require consid-
cradle scrutiny to prevent any Rus
sian gold finding its way into our
hands and yet at the same time not
interfere with the British selling us
all the gold they could produce.
While there is no disposition to
change the present gold policy, UNI
der which the United States, alone
and virtually unaided. is pegging the
price of gold at S35 an ounce, even
if it were suddenly decided that
this program should be abandoned,
it would not be stopped until after
the present war is over.
This is the first time that any sug-
gestion has been made to use the
enormous subsidy power of this gold
buying to coerce other nations into
a line of conduct which the United
States could approve.
Government agencies in
Drive against Utilities
The anti-utility drive is under way
again. A gullible reporter in Wash
ington will be told by all sorts of !
public power functionaries that it
doesn't mean a thing-that it was a
pure coincidence that Dave Lilien-
thai, John Carmody, John Rankin,
George Norris and Harold Ickes have
been laying down barrage against
the electric companies. No one in
high command, it is asserted by the
underlings, pressed any button that
ended the truce which many neu-
trails had hoped would work per-
manent peace.
But it does not take very cynical
mind to conclude that there are just
too many. individual actions, and i'm
pending actions, and that they all
fit together too precisely into a pat.
tern, for the whole conglomeration
to be banditry instead of an organ
lied military operation. The tim
ing, also, is important. 1t came
on the eve of the final date for I'm
tegration' of the holding companies
under the death sentence, being adj
minlstered now by Jerome Frank OF
SEC. 1t comes just few weeks
before the scheduled beginning of
the monopoly committees probe
into Investment trusts tied LIP with
the utilities. From this last, Incl
dentally, the utility baiters hope for
great publicity from the big names
associated in the public mind with
Wall street which they expect will
be flashed on the front pages of
every newspaper in the country.
The strategy is even clearer when
Jill ANdiiIIo ltidl lilG ilGW IOliRIESS
will meet in January-right after
the public has been thoroughly she'll
shocked by, first, the Wickedness
of the power barons, via the T. N.
E. c. investigation, and, second, the
shameful unpreparedness from a
standpoint, as Mr.. Ickes'
assure him will be dem
Colossal Shifting Of
Business Equities Planned
SEC is guarding its strategy with
a secrecy SO intense that one won
ders if anybody except Jerome
Frank himself knows the details of
its plan, which, it is admitted, will
shortly be sprung and involves a
forced indignation" system which
will be the most colossal shifting of
business equities in history.
t. N. K. C.'s plans are fairly OBJ
vious, aimed only at whipping John
@. Citizen into line behind what the
public power group wants from con-
gress.
But there is a curious indecision
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