Evening star., 1940-05-03


He followed Secretary of the In
terror Ickes, who had declared that
conservation was the outstanding
domestic problem before the Amer
lean people Mr.. Ickes reiterated a
recommendation that forestry be re-
turned from the Department of Ag-
riculture, where it now is, to the De-
partment of Interior, from which II
was taken in 1905.
He insisted that the name of the
Department of the Interior should
be the Department of Conservation
but that the Agriculture Depart.
ment had objected to this change.
The Democratic women, who
heard the national defense policies
OF the Government explained last
night by officials from the State
War and Navy Departments, turned
their attention further today tt
other domestic problems after hear.
ing Mr.. Morgenthau and Mr.. Ickes
and looked forward to a garden
party at the White House this after
noon. President Roosevelt himself
is scheduled to address them at
s pm.
Gold Seen as Shock Absorber.
Secretary Morgenthau firmly up
held the financial policies Of the
United States.
Explaining that there has been
an acquisition of $4,000, 600 900 in
gold from abroad during the last
six years, the Treasury Secretary
told the women, There are some
sincere people who have been dis
turbed by stories that this coun-
try has a monetary policy that
threatens to cause loss to the Ma
ton. If you meet such people !
hope you will reassure them. You
may tell them that the greatest
and richest country of the world
has the best and soundest none
tary system and that there is no
reason to fear that it will not re-
main sound.
I'VE can feel entirely comfort
able in the possession of a supply
of gold with which we can meet fu-
ture demands on our monetary sys-
tenn without any shock to our econ
omy. We can be prepared also to
play the part we ought to play in
the reconstruction of the world that
must follow the senseless destruc-
ton of war.
1.-The American dollar is the
soundest unit of currency in the
world. It's value is unquestioned
here at home, and 1t is not ques-
toned anywhere else in the world.
It is the solid rock of strength and
stability amid all the monetary con-
fusion created by aggression and
war. 1t Is more than a domestic
currency; 1t has become in the last
few years more and more an inter-
national currency. People through
out the world who are driven by
disaster and fear to hoard currency
prefer to hoard the currency of the
United States when they can get it, ~
Would Have U. S. Aid Peace.
In order to direct gradually the
flow of gold away from the United
States, the Treasury Secretary rec
commended that the United States
"do everything in our power to con-
tribute to the return of peace to the
world and to encourage reconstruc-
tion and the restoration of normal
trade.
ITO be sure, if the political pic
ture of the world would undergo a
drastic change in the future. so that
instead of so or 60 independent ma
tions, there should exist only one or
two groups, dominated by ruthless
powers, then international trade and
finance may assume the character
Of domestic trade. hTere would
cease to be independent monetary
systems as there would cease to be
Independent foreign policy. Balances
between countries would be settled
as balances between our States are
now settled, that is, by transfers of
deposits. Under such circumstances,
1t might well be that gold would no
longer be needed. But, under those
circumstances, life would be so diff
ferent that the possible loss in the
value Of gold would, am sure, be
the least of our troubles"
National defense and foreign pol
Icy occupied the delegates last night
when these subjects were dwelt upon
by Secretary of War Woodring, Sec
retary Of the Navy Edison and AS
sistant Secretary of State Brecken-
ridge Long.
Woodring Asks Effective Army.
Reiterating a statement he has
made on several occasions before
Secretary Woodring emphasized that
the United States must have-anc
Is determined to have-a real and ar
effective Army, an Army in being,
not a paper military force"
The Nation, Mr. Woodring said
"must have those defensive installa-
tions adequate to serve as absolute
deterrents to any aggressive design.
against this land of ours. We mus
maintain q military establishment
Of that suficiency which permits u!
to speak-and to speak with author.
ity-for peace. We are at peace and
in q world now dominated by tht
ruthless force Of armed might, W,
are determined to remain at peace.
AS for the Navy, Secretary Edisor
said this branch of the Nation'
armed forces deserves and is getting
the support Of the American people
1.-THE American people," he said, III
supporting this Navy program ar
using traditional Yankee common
sense and prudence. To do other
wise in a world aflame with unde
clared wars, violated treaties ant
sudden invasions of innocent, peace
full countries, would mean tina
America had changed its course
that the American people ha'
changed their character"
j Mr.. Edison pointed out that Con
sress is now oonddsrinS IN Il Pc