Evening star., 1947-01-13


as Secretary of the Treasury. Nine
hundred volumes In IL years means
IS volumes q year, or 8 volumes q
month or nearly III volumes q week
counting no time OF for Sundays
holidays or sickness. Even with MS
dictaphones and stenographers, II
is hard to see how man could DO
more than this. The thing Is unique
and It throws a revealing light upon
Mr.. Morgenthau's caliber and char
acter-if any were needed.
But, even more than its size, the
interesting thing about this diary Is
it's unmistakable ring OF truth. For
example, take Mr.. Morgenthaus
description of the extraordinary
manner in which matters OF vast
financiaI moment were settled by
the late President and himself. 1t
is inconceivable that Mr.. Morgen-
thau, who worshipped Mr.. Roose-
velt, would knowingly write any
thing that put either In an unad-
mirable light.
Gold Price Picked by Chance.
Therefore, when he declares that
Mr.. Roosevelt, at . conference.
laughed uproariously. and he-Mr.
Observation-Disclosures gleefully, at
the mental picture of "the hairs on
the heads Of foreign bankers stand
ing on end" at our Governments
foreign exchange operations-and
revealed. that Mr.. Roosevelt fxed
the price of gold at 81 merely by
picking that figure out Of the air as
q lucky one because three times
seven makes 21-when Mr.. Morgen-
thau thus describes how things were
done 1t can be set down for certain
that he did not realize the per-
formance was utterly unadmirable,
Which, Of course, makes it all the
more appalling. Clearly, to him 1t
was all "just good clean fun"
Thrilled by the lightheartedness
and daring with which his hero
handled affairs of such tremendous
weight and worldwide significance,
the worshipful Morgenthau, how
ever, did declare in his diary that
"if anybody ever knew how we set
the gold price through a combina-
ton of lucky numbers, ETC., I think
they really would have been fright
ened." In this MIR. Morgenthau was,
Of course, entirely right.
Certainly, people would have been
frightened-and they would have
had every reason to be. In the
whole history OF the country II Is
doubtful that any exhibition Of
equal irresponsibility in high places
could be cited. Here were the Pres
ident and his Secretary Of the
Treasury, obviously unequipped by
knowledge or experience to deal
with such enormous fiscal and eco
nomic questions, making momentous
decisions affecting world stability by
the merry device Of picking out
lucky number"-and shrieking with
glee at the shock they were about
to administer.
Acheson Called Lightweight"
II an anti-New Deal Democrat or
Republican had suggested that this
was the way in which the affairs
of the Nation were being managed,
he would have been denounced as
a villain and liar. But, when Mr..
Morgenthau paints the picture, its
authenticity cannot be doubted.
At another conference, Mr.. Nor
genthau records Mr.. Roosevelt as
urging Mr.. George Harrison Of the
Federal Reserve Bank, in charge
of our foreign exchange operations
not to consult the English or French
referring to the head of the Bank
Of England as "Old Pink Whiskers,
and to Mr.. Dean Acheson, then
Undersecretary OF the Treasury
who fundamentally disbelieved in
the Roosevelt gold policy and de-
plored the way in which 1t was
being carried out, as lightweight
Mr.. Acheson, one Of the ablest
men in Our public service and now
Undersecretary Of State, resigned
shortly after the lucky number
price fixing stunt, his resignation
as will be recalled, being accepted
NY M1. xtOOSCNClV WILL llClbllC1
graciousness nor good humor.
Disclosure that he was referred
to by the Messrs. Roosevelt and
Morgenthau, between themselves
as lightweight" will not diminish
his reputation. On the contrary
considering the facts and the per.
sonalities, it Is difficult to see how
q higher tribute could have been
paid him.
In It's first installment, the Nor
genthau diary has rendered a serv-
ice. These early incidents should
give to the people generally bette,
icea of the real Mr.. Roosevelt. Ger.
tainly. II the rest Of the story is a,
realistic 1t should clarity many
minos as to the kind of man ano
men who ruled this Nation for /:
Brakes Refined