The daily monitor leader. [volume] (Mount Clemens, Mich.) 1942-19??, 1942-05-12
BY PETER eDSOk
Monitor-Leoder Washington
Corvespondent

IlGl NllIN lllNrNNo - ~ w.
derfuI, but OF the same time
so exosperotine and oh, so
funny.
Not the unfunniest thing in
Washington these days is the
rip snortin' rampage Of that
roisterous rivermon, the Hon.
Kenneth Mcclellan, MemPhion
and senior senator from Ten
nessee.
Senator McKeIIor is out to
sove the country by cutting ex-
penses, q noble ambition II
there ever was one, but the
way Kenneth goes at the job
is something to behold. His
methods ore those Of O surgeon
going into on operating room
bIindfoIded, q doctor Prescrlb-
ina omputotion at the hip tor
u sproined ankle, q Veterinorl-
on applying his horse pistol to
relieve the animal Of its pain.
Doctor Mcclellan opPIies his
cures to patients that ore sound
of health and need no treot-
ment, as we'll as inCurobIes
that really need the mercy
deoth treatment.
There is, for instance, an
unheroIded outfit in your gov
eminent coIled the Export Inn
port Bank Of Washington. Its
function is TO finance and to-
ciIitote the exchange Of COM
modities between the y. 5. and
foreiqn countries, and TO assist
in developing the resources and
stobiIzing the economies OF
countries in the western hem
i:phere. II functions very quiet
w. has only O small stoff, hires
no publicity agent. It is one
Of the very few government
agencies which turns back in
IL the Treasury more money
that il spends. Its profits ore
actually over the Sl2 million
dollar mark. It's loans have
represented an investment OF
more than $500 million, yet
not one Of them is in orreors
and none ever has been de-
fouIted.
OFF WITH ITS HEAD
In addition, Export-Import
Bank has been Of material aid
in the war effort, in financing
the production and purchase
Of many criticoI materials
rubber, sugar, tin, copper, and
the like.
The expenses Of this bank
have been running somewhat
over 100000 O year, but be-
cause Of the war emergency,
they we're estimated for the
coming fiscal year at S2O7-
900 and legislation oPproPri-
oting this sum Of money Poss-
ed the House as port Of the
Independent Offices bill In the
Senate, however, Mr.. Nickel
lar launched an olI-out attack,
and one Of his shots had the
effect, not Of reducing the Ex-
port-Import appropriation, but
Of killing il entirely. The Ex-
port-Import Bank was simply
put out Of business, with no
thought Of what would happen
10 the hundreds Of millions oI-
ready invested.
Now isn't that O heck Of q
way TO run q country?
It so happens thot the peo-
pie who run Export Import
aren't worried. They say the
appropriation will be put back
when the bill goes into confer
ence TO reconcile differences
between the Senate and House
versions. Senator McKeIkor has
been seen, presumably, the
banks importance has been
explained TO him, ond he has
promised t. be good
GRAkDSTAkD STUFF
At home, the political effect
Of all this monkey business is
that Senator Mcclellan gets
credit for being O greet econ
omy-mlnded statesman. There
ore votes ir thot.
But consider what the effect
Of this grondstond poIiticine
may be in foreign, countries.
. There, the word is spreod thot
the Senate has killed the Ex-
port import Bank. Any loans
or credits being negotiated for
the movement Of war supplies
must come TO q Temporary
stondstiII. Every loan outstond-
ina becomes uncertain, for II
the bank is TO be Iiquidoted,
funds outstanding presumably
would become coIIectoble ono
Ian f,u,Ie otttbori1e1 but moi