Evening star., 1946-07-10

as for an individual.
The Snyder statement is anything
but New Deal doctrine. Nor does
it reflect the Roosevelt policies.
However. it is unmistakable fiscal
sanity. of which there has been
shocking shortage in the Treasury
since about 1884 1t might have
been uttered by Senator Harry
Byrd of Virginia. whose consistent
fight for the three things Mr.. Sny-
der insists upon earned him the
eternal enmity of the horde of
wasters and spenders who took
over the Government in the Roose-
velt regime. A lot of them are
still around.
Chance to Make Record.
OF course, what Mr.. Snyder does
and what Mr.. Snyder says may turn
out quite far apart. Mr.. Snyder has
had a bad press since he came to
Washington The attacks on him
have been savage and unjust. He
now has a chance to make a real
record in the Treasury post because
unouestionably he Is the best
equipped man who has held it
since 1884 and his initial statement
Is as sound as can be. If he pursues
that course with determination and
success, he can do more to rescue
the country from ruinous imitation
than the OPA could have done had
it been loaded with all the powers
Chester BoWles wanted
How far Mr.. Snyder gets along the
sane and safe path he wants to
travel depends largely on the
strength of Mr.. Snyder's desire and
the energy he puts behind it. If he
is 100 per cent sincere in wanting
to reduce Government costs in
every possible way he naturally will
cooperate 100 per cent with Sens-
tor Byrd, who has been 100 per
cent sincere about that for the
last 10 years.
If instead of having the opposi-
tion of White House and Treasury
Senator Byrd found White House
and Treasury not only cooperating
but taking the lead in this reduc-
ton movement. he would greatly
rejoice, gladly yield the leadership
and become a follower. The COM
bination would then achieve real
reduction.
Must Watch Congress-.
And If Secretary Snyder wants to-
maintain adequate tax rates and
achieve a balanced budget-or bet |
term 1947," he. of course, has got
to take steps to block Congress from |
appropriating great sums which in
evitably would increase the debt and
nullify all economies.
In brief, if imitation is to halted
short Of disaster, the Government |
must put its diSordered fiscal |
affairs in order, stop increasing |
the supply of money and credit. |
stop borrowing new billions and
overlooking the banks with its
securities. Mr.. Snyder we'll knows
the peril in this. Yet, without firm
fiscal leadership these things will
not be stopped. At the moment !
nothing Is being done in the way
OF reducing expenditures and moth
ing to block dangerous appropria-
tions.
For example, there is the. So
called terminaI-leave bill which
passed the House by unanimous
vote and certainly will 60 through
the Senate. This is not q bonus
bill. That will come next year. tt
is bill to give enlisted men fur
Tough pay on the same basis given
officers under an old law. 1t is.
1t is claimed, simple justice to the
enlisted men, and. as one Senator
says. nobody around here is going
to vote against this bill in an cleo
tion year"
Yet, it is sure to cost 31a billions
and may cost 812. Mr.. Snyder
knows what this means. So does
Mr.. Truman. So does every Sena-
tor who will vote for it. 1t dooms
to futility all efforts to regain con-
troll of the Federal finances. Mr..
Snyder acknowledges it will "ieop-
ardize" his fiscal program, which is
mild way to put it. However, he
added that the administration is,
not opposing the bill. 1t will pro-
pose certain notifications to
cushion the shock" and lessen
the 1nf1ationary pressure"
These notifications will be test
OF Mr.. Snyder's sincerity and they
will have to be seen before judging
him. The bill puts both the Presi-
dent and him in tough spot. They
know the fiscal havoc that will be
wrought by its passage and they
know the political reaction to op-
position
One has only to suggest in print. |