Evening star., 1941-01-05

Exchange Commission His calm coun-
sci and his great influence with the mem
bership contributed not little to sue
cess in this bitter fight. Later Mr.. Ray
burn was to sponsor the Federal Com
munications Act and the Rural Elec-
trification Act.
Legislation should never be designed
to punish any one" Mr.. Rayburn says,
expounding his theory of Government
regulation OF business 1T must be fair.
Fair!" he repeats, giving the word a,
special emphasis And ordinarily it's
. question OF legislation to regulate the
minority-the pistol-toting minority.
II remember when the bill to regu-
late the securities market was up.
very high type Of man from the New
York Stock Exchange came to see me.
He said they didn't need any such legis-
latiop; that the stock exchange was pre-
pared for seh-regulation, which would
do the job.
But disagreed with him told him
we weren't attacking business, legitimate
business. We were simply pulling the
leeches off, getting rid Of the despera-
does. I wanted the exchanges open.
There was no one else to do the busi-
ness they were doing. But some one had
to drive out the bandits.
II couldn't help but remember as I
talked with that man, and he was an
honorable, high type of man, the figures
I'd seen somewhere showing that of the
so billions in securities issued between
1922 and 1882, IS billions weren't worth
the paper they we're written on. That
was what we were trying to STOP
Keeps the Stamp of the Southwest.
In spite of his q years in Washington,
you could never mistake Sam Rayburn
for anything but Texan. There must
be something very special in the Texas
imprint, for men like Rayburn and
Garner spend their lives in this shifting,
impersonal Capital and yet they retain
that special Texas quality. With Mr..
Rayburn it is not accented by a 10-gal-
Ion hat or any other such obvious de-
vice 1t is in the simple, direct way
he speaks, the slight drawl or twang,
the pungent phrases with which he salts
his conversation.
Perhaps because he never married, Mr..
Rayburn has little or no interest in
Washington social life. But then even
If he had . wife, it would be difficult
to imagine him showing any interest in
Washington's equivalent Of cafe society
OF course, he goes to formal parties at
the White House and frequently he dimes
with old friends from the House or the
Senate. Most nights, however, find him
at his ease in the modest walkup apart
ment he has occupied for many years.
His real relaxation comes when he
goes back to Bonham, where he still
calls the old family place home. Several
brothers and sisters live there, too, and
friends and neighbors are always stop
ping by for overnight or longer. The
new Speaker takes distinct pride in the
prize cattle, and particularly the reg
istered Jersey bulls, on the home place.
After months in Washington, he is likely
to sleep late, get UP and 60 fishing or
just loaf about the place talking with
the COW hands and with friends who
come from lar ana near 10 see him.
The Eyes Of Texas.
As Texas took pride in Mr.. Garner
when he became Vice President, 50 now
the State is proud that another Texan
is presiding over the other branch Of
Congress. They are intensely loyal peo-
pie, these Texans, and they are already
thinking of higher honors for Speaker
Sam. After all, they say, Franklin
Roosevelt can't be President forever
and there'n be another election in four
years.
But it is q safe guess that Speaker
Rayburn himself is not toying with any
such rosy-colored ideas. He knows too
well the task that confronts him when
Congress gets down to work and how
heavy is the responsibility of the man
who must guide the work Of the House.
He knows, too. what q toll this post has
taken-three Speakers have died in Of
fice in the last seven years. So Speaker
Rayburn will go on quietly and con-
scientiously doing his Job, which Is what
hs has bsen doing most Of his Life.