The Tacoma times. [volume] (Tacoma, Wash.) 1903-1949, 1943-04-12
BY RAY TUCKER

NAsHISGToN-The almost
swe-inspiring implications Of the
Anglo-American plan for a closely
controlled world currency union
we're not pictured TO members Of
congress by Henry L. Morgenthau
Jr. Probably only a few in the
audience sensed the underlying
significance Of the program. That
viii not be revealed until John
Maynard Keynes. adviser to the
British Exchequer. makes public
his proposals. They were with
held to let the people of the United
States have a chance to digest
the milder version given out here.
The fact Is that Woodrow
Wilson's League of Nations
was a kindergarten problem
compared with the Morgen-
thau-keynes project. The First
World War leader advocated
merely a political league with
no dollars-and-cents authority.
The current offering eontem-
plates an economic and none
tary agency that will rule
every person from the cradle
to the grave.
What the secretary of the treas
ury failed TO explain is that any
oroaufzatiop u,bick ,oc-,,fo+o. -.
value of our money will dominate
the diplomatic, internal, CONNER
cial and territorial affairs of sig
nstories and nonsignatories. Far
more effectively than establish
ment of a military, aerial and
naval police force, it can make any
country or group Of countries COM
ply with its mandates by denying
them the materials or funds for
making war or even for peace
time pursuits.
The evolutionary process by
which the hypothesis of several
nglo-American professors and
economists were slowly spun into
a pattern for world restoration
and reform would make a fasci-
mating drama. Many of the lead
ing characters are virtual stran-
gers to the people whose lives will
be revolutionized by the adoption
of their plans.
Two eminent Harvard savants
regarded as Keynes apostles are
Alvin II. Hansen and William
Yandell Elliott. Professor Hansen
still serves as adviser to the Ma
tional Resources Planning board.
Professor Elliott is director of
stockpiles and transportation for
WPB.
AS first reported more than a
year ago, DR.. Elliott prepared a
private memo designed to prevent
future wars. He urged that the
few dominant nations controlling
key raw materials form a cartel
barring "aggresors" from access
to these commodities. His original
proposal suggested that the United
States use its store of gold az
an incentive To rival powers to
join the group.
wi
This feature also appears in the
latest treasury program. The gen.
eral suggestion found great favor
at the White House, which re-
quested numerous copies for study
by its various experts.
Mr.. Keynes had been working
along the same lines, but with
the chief objective Of stabilizing
conditions through currency ma
nipulation. Eventually the Eng
hshman and the American got to-
gether in thought if not in per-
son. Although there are several
untold chapters that await further
illumination, this is the back
ground story OF the origin of the
plan for international cooperation.
Several Washington correspond
ents have recently written articles
specializing on the possibility of
a Democratic ticket consisting of
Roosevelt and Willkie. As old
friends of the COP 1910 nominee.
a few newspapermen forwarded
clippings of their pieces to the
Hoosier. tits an old Washington
custom, designed 10 obtain the
victims reaction.)
Willkie has given the same non
committal answer to each. He
labels the suggestion as interest
ing reading" and adds that soon
he wants to have a good talk
with the writer.