The Waterbury Democrat., 1939-02-28
Although he is

| before any more extensions are voted.
 Congressman Joe Martin of Mass achusetts, Republican minority lead- CT, recently appointed a committee of IT Republican representatives to study the Presidents emergency powers. This committee has just be- gun its sessions, under the chair manship of Congressman Jesse P. Wolcott of Michigan. It will submit to the Republican membership of the House a detailed recommendation on each case. And then the shooting will begin. TOO MUCH
 STRENGTH?
 Says Congressman Wolcott: "The extraordinary powers we've directly and indirectly given the president have set up a situation where we virtually have managed economy. "The President can create a de- precision - as he did in 1897. And if his power to distribute the money appropriated by Congress in any manner he sees fit isn't checked, he can also create a period of seeming prosperity by spending government money.
 "The president in these particu- lars has nearly as much power as Stalin, Hitler or Mussolin. He controls the velocity of credit, the life-blood of agriculture, business and industry.
 We are going to endeavor to recoup those emergency powers, so that the people may have juris- diction over all of them, through the Congress"
 PRESIDENTS
 ''POWERHOUSE"
 The list of extraordinary powers Is impressive. It includes:
 The power to revalue the gold dollar.
 Control of the foreign exchange stabilization fund - a matter of 5000. 100000, whose operations are secret.
 The power to issue $3,000, ,OO0, 900 worth of paper money.
 The power to apportion relief appropriations.
 Control over FILA home mod ernization loans.
 Control over the rules under which gold may be imported, exported. bought, sold, or stored.
 Control over the use of gov- ernment bonds secured by Fed eral Reserve notes.
 The power to put the cur- rency on a bi-metallic standard by ordering the free and un- limited coinage of silver.
 The power to raise or lower any tariff duty by 50 per cent.
 These powers, with the exception of that of raising or lowering tariffs are due to expire in the spring un' less Congress votes an extension The tariff power does not automa. tically expire, but is due to come III for consideration during discussion of the reciprocal trade agreemen act.
 Tn the case of five other powers extensions have already been voted These are:
 The Import Export Bank.
 The Electric Farm and Home Authority.
 The Commodity Credit Cor poration.
 The REC Mortgage Corpora ton.
 The lending powers of the REC.
 BATTLE ON
 CURRENCY LIKELY
 Congressman Martin remarks tha' six years trial have shown that these emergency powers did not solve tn, country's economic or social prob lems, and suggests that the country wants ito start at once toward thu restoration of balanced government.
 It is likely that some of tn. most spirited debate will come wher extension of the devaluing power and the power to issue $3,000, ,000, ,00l in greenbacks are up for considera, tion. The latter power has never beer used, and there is no indication tha any further use will be made of tn, former.
 But to remove the powers per. manently appeals to the Republi can leaders as an excellent mean, of notifying the country that tn, nation no longer is faced by ar emergency and that currency. manipulation fears can be set a rest.
 Copyright 1889. NEA Service, Inc.