Detroit evening times., 1945-02-16

United States ana the real government without
more than few people realizing their power until
it is too late to check them by congressional or
other means.
THERE is every reason to believe that Henry
Il Wallace was put up to do his stuff and be
knocked out. The prize was too big for him to
Squander, buying ranbOWs and building up Hill
man and his Political Action Committee.
The New Deal contains some very practical
men who have not found it exactly unprofitable
to march under the Roosevelt banner.
We do not know and have no present means
of knowing how many tidy fortunes were picked
up by having advance notice Of the raising of the
gold price and the siverbuying program.
We do not know what has been going
under the cloak of freedom.
But we do know that the RFC, separated
from Jesse Jones and restored to independent
status it would be by the George bill as passed
by the Senate, is ready-made bonanza which is
cheap at any price
For the George biz, While it separates the
RFC from the department of commerce. does not
reeaptHre the RFC or its subsidiary corporations
and make them servants of the Congress-
THE way is still wide open for the New Dealers,
Il in the name of preserving free enterprise, to do
what Wallace movement eoud not get awaywth.
That is the vitally important issue.
And 1t is being obscured by the dramatic but
fake struggle over Wallace.
The RFC through the Defense Plant Corpora
ton has seven billion dollar investment in
industry.
1t owns plants which can completely dominate
the aircraft, synthetic rubber and magnesium in
dustries and it can nearly dominate the aluminium
industry.
1t owns somewhere between a quarter and
fifth of the steel industry has substantial invest
ment in the chemical industry, and in rubber
manufacturing, including tires owns a consider
able portion of the facilities for making aviation
gas and five pipe lines, including Big Inch and
Little Inch
In addition to this, it has more than billion
dollars worth of machine tools scattered through
out industry and bewildering series of loan and
other arrangements that put finger in every pie
THE largest single stake in American industry
Il is held by the RFC and, although its funds were
all derived from the government, its operations
are not under the control Of Congress.
Our people are against government ownership
and in favor of anything that can be called free
enterprise. Every locality that has a war plant
wants to keep that plant operating in peace.
The stage is set for a speculator disguised as
a progressive businessman and social benefactor
to come forward with a proposal to save free
enterprise, forfend against private monopoly
avoid the tyranny of government control and help
the taxpayers by taking over this or that DPC
plant or all the DPC plants in an industry through
cooperative in which management labor and the
public will be fully represented
There are plenty of ABLE AND AMBITIOUS
MEN who are now ready or who can be groomed
to make such offers
There are plenty of ABLE AND AMBITIOUS
UNION LEADERS who are anxious to broaden
their careers and there are plenty of ABLE AND
AMBITIOUS CORPORATION EXECUTIVES
who are deeply dissatisfied with their positions in
private industry or fear the future of private
industry.
A GREAT cooperative corporation could COM
"A mand the nations finest talent and, if the
present tax, price and other controls on private
industry are continued would have private indus
try at its mercy.
Such corporation would not pay taxes could
keeps its books as it liked for it would be beyond
the SEC and therefore could treat its depreciation
and reserves as it chose would not be bothered by
stockholders and, when necessary, could borrow
money from its parent, the RFC, at triflng In
terest rates.