The Waterbury Democrat., 1945-01-29

IuEGTo u a U Company as against Wallace Farmers, Loan Company. If, how ever, you were up against 1t and wanted to borrow litle money, the first place you would go would be to kind-hearted banker Henry rather than to hard-hearted banker Jesse.
 If the result of any such over- simpliflcation tips the scale heavily against Henry A. Wallace and tends to reveal him as totally unsuited for the position of Secretary of Com- merce, Wallace's supporters bounce back with the charge that 'taint so, and they offer the following in proof thereof:
 TACKLED BIG JOB
 Wallace as Secretary of Agricul- ture, it is claimed, was one of the best administrators in government. It is admitted that he stepped into a well-established organization that had already been functioning effec- lively for many years. Yet from 1893 on Wallace had the job of or- ganizing six million U. s. farm families into the Agricultural Ad- justment Agency.
 One point not to be overlooked in this argument is that Wallace and the Department of Agriculture had almost as much money as they wanted to do the job and that they did not have to show profit. But they did get the job done and the Triple-A machinery was running smoothly enough to take on the tre- mendous job of war food production when this country got into the war.
 The charge that Wallace doesn't know anything about banking and should therefore not be entrusted with the Reconstruction Finance Corporation and other federal loan agencies formerly under Uncle Jesse Jones's keen eye is answered by Henrys fans with statement thNt the Department of Agriculture now has under it's wings the successors to nearly dozen government finan- cial agencies doing a banking bus mess of no mean sort, and that no one complained when Wallace ad- miniStered them as Secretary of Agriculture. Under the Farm Credit Administration, which was set up in 1889 and which can be likened to rural REC. are the Bank of Co., operatives, Federal Land Bank, Production Crhedit Corporation, Re- gional Agricultural Credit Corpora tion, Intermediate Credit Corpora ton, Crop and Farm Loan Organ iZation, and the Federal Farm Mort gage Corporation. This last men, toned is now in the process of liqui- dation but the total transactions, cash and other assets of the FCA set-up total several billions of dol- lars.
 In addition to the FCA family, Department of Agriculture mothers Farm Security Administration and Commodity Credit Corporation, both multi-million dollar businesses and Rural Electrification Administration which was brought into the depart ment after Wallace left
 EXPANDED ECONOMICS
 BUREAU
 Wallace's experience as business economist is given build-up by pointing to his efforts in expanding the Bureau of Agricultural Eco- monies. generally recognized by pri- vate business as being one of the strongest statistical and forecasting services in government. It's appro- priations and transfers from other government agencies for the current fiscal year approximate four and a half million dollars. This should give some idea of scope of BAE opera tions, although 1t does not compare with the six million dollars spent on Bureau of Labor Statistics or the nearly 20 million that goes to Bu- reau of the Census and Bureau of Foreign and Domestic Commerce in department of Commerce. It is over these last two business analysis agencies that Wallace would pre- side if ratified for appointment as Secretary of Commerce. Depart ment of Commerce this year is a l0l million dollar business with A. 900 employees. Department of Agri- culture is billion dollar business with 80,000 employees. Which is therefore the bigger business man Wallace or Jones?