The Duplin times. (Warsaw, N.C.) 1933-1963, July 18, 1935, Image 8
. wound the National Capil .1 WSSBSKBf CARTER FIELDS -31 Washington. The so-called sliver bloc In the senate it la not so im portant In the boose for the simple reason that most of the silver pro duclng states are small. In popula jtlon, and hence do not have many .representatives is good and sore with the administration, hot has not gotten to first base in making its resentment. felt tC.;. Having stampeded the adminis tration In tha last session; and en acted a law which seemed to prom ise to take the silver producers to the promised land not to mention producing a fair degree of inflation the sllverltes have watched with growing Irritation the bogging down of the treasury's baying campaign. The law on the books is ample to accomplish their purpose,' It re quires the secretary of the treas ury to boy silver until the price reaches XZ9 an ounce, or until it becomes one-third of the govern ment's metallic reserve.' But It does not fix a time limit! Secretary .of the Treasury Mor genthan Is .not In sympathy with the silver plan at all, save on one detail. He does like the idea of buying a lot of silver cheap, and then revaluing it, thus netting a fat profit for the treasury as the treasury did on gold. " But to. accomplish the most In this direction it is necessary to buy the silver at low prices. Every ad ditional cent per ounce paid for silver bought cuts down the revalu ation proflt to the treasury when that day comes. - Experts on the sidelines believe that Morgenthau has played a mas terly game at this, in view of the knowledge the whole world has that 'the law provides this $1.29 objec tive. For a while the price of sil ver spurted tremendously,, holders not wishing to sell because they figured the price would be higher Ister on. Treasury Maneuvers Thereupon the treasury began Its maneuvering. It let leak out stories that the administration was deeply sympathetic with the plight Into which the American sliver buying policy hsd plunged China, And so on, - .Whereupon the price - of silver banged down, and the silver sena tors got madder and madder. i But meanwhile the treasury con tinued to psy considerably above the world price for all newly mined silver, making it clear to the min ers that the price paid them would , not be revised downward no matter what happened to the world price. i So the miners were happy, or at least, not angry. Just a little dis appointed at failure of the price to climb on up to 11.29, as pre dicted. 1 The silver senators, however, were not even placated by this. The 'reason is not merely that they felt cheated, believing they had provid ed for a gradual rise to $1.29, and then seeing it fall. It so happens that nearly all the silver senators . are slso Inflationists. They put their bill over last session by s coalition with inflation senators .from non-silver producing states. And they knew perfectly well they were not getting the degree of in flation from the silver purchases that tbey bad expected. . Next session will see 1 a much more militant ' silver and Inflation bloc. Next session will be leading down the straightway to election day. And President Roosevelt and 'Mr. Morgenthau will be much more considerate of the feelings of the silver senators than they seem to be now. But' meanwhile the treasury will ihave bought a lot of cheap silver, and the proflt to be boasted about lln the campaign will be much sweeterl Most Vital Facto . ' Possibility that stockholders in the big corporations of the country, . taking note of what happened to President Roosevelt's public utility 'holding corporation; "death sen tence" in the house of represents fives, may try to "save their bacon" on ' the White House tax drive i against bigness, is the most vital - factor today In the whole New, Deal program, . The importance of that big bouse ' .majority against ; ine aeain sen tence" is what caused it . On a rough estimate 200 members of the house Voted against the President, v .net because they wanted to do So, . but because they did not dare do . otherwise. Their offices were flood ed with letters from stockholders In ' the utility corporations stockhold ers who lived and voted In their -, districts. . Stockholders In msny In- - stances whose nsmes they . knew. , and of whose good faith there was no question. :yi'j;tfy.-i It wss this flood of mall not the operations of the much, .criticised :, power lobby which 1 caused that : surprising overturn. It Is perfect ly true that the utility companies stirred-up the letter writers. . The attention of the security holders bad to be called to the fact that legislation threatening their finan cial Interest or alleged to be so threatening was pending. ' . Nothing like it ever happened be fore. Back In the days of the Each- Cummins railroad bill there was nut a slnrrle letter from any stock . oiino' ' " i affected written to the ci. ..i-esx i representing the Serentee .let This dis trict Include r Fifth avenue. Riverside drl j probably la the banner dlstrl t i r Invested wealth la tha entire i d ted States. The percentage of t. .1 railroad securities owned by persons living In that dis trict would be startling If there were any way of checking up on it Yet no one of these wealthy own ers bothered to write, ! ' ; ' , A little later In the same session In which the Each -Cummins bill was passed there came up a little meas ure which would affect florists. The congressman from the wealthy Sev enteenth New lork district ; wss overwhelmed with malt He had not realised there were so many florists In his constituency. Florists on Job ', The point Is that the florists were on the Job, as far as watching against adverse legislation Is con cerned. The investors were not. But this year has seen the In vestors mobilised for the first time: The question Is: Can business in general do the sains sort of job that the utility executives did this year in arousing their stockholders? While no one knows what the final rates of the tax against big ness will be, the top rate In the preliminary figures for which no one acknowledges responsibility are 1714 per cent : . This . means nearly one-fifth of a company's net income. ,s 'rA T' Compilations' as t to What this would do to the big companies have been made, and general agreement is that this would be sufficient to put them out of business. "" But the object ' of the sliding scale is avowedly to put them out of business, which means that the present bill is only an opening wedge. ' Obviously the , Investors most hurt by this program, lfj con tinued, will be the common stock-; holders.' Their dividends will bS endangered. Sharp boosting in the taxes would mean that it, and other large corporations, would be obliged to reduce their dividends. The ques tion is whether the ; stockholders will begin a letter writing drive to their congressmen as the utility stockholders did. If they do, the corporation sliding scale tax - will be beaten, as the "death sentence" was. '.!;:,: -v v:.y--. "Ding's" Big Job Jay N. Darling better known as 'Ding," the cartoonist is trying to do for wild ducks and geese, the mountain goat, caribou,, antelope, and what-not in the game line. what Mark Sullivan, serious writer on politics and economics, did In his youth for the buffalo. Ding thinks Sullivan's Job was magnificent, bat rather amusing in view of the deeply serious nature of the Sullivan's mental processes. For example, Sullivan Is probably the closest .personal friend of Her bert Hoover. When quite a lad, Sullivan read something In a newspaper about the American buffalo, or more cor rectly, bison, becoming extinct At once he went into action. He wrote to every living person who owned a buffalo. Including a British peer. He wrote to every soo in the coun try, asking if they would like to have a pair, and If they would promise to take care of them and let tbem breed If tbey got a suit able pair. At the moment a big rancher not far from Yellowstone park had a herd, which he found so unprofit able that be was obliged to dispose of them. It was the story about this, setting forth 'also that the bison was about to pass into soo- loglcal history, that started Mark on. ' Before he was through he had disposed of every buffalo in that herd, placed them carefully In soos that wanted them, In cities all over the country. As a result the sup-, ply of buffalo today Is so plentiful that every few years a' herd 'Is turned over to - the Indians for slaughter. ' , ' ' , , The fact that Ding Is now bead of the biological survey Is more" out of the ordinary than Mark Sul livan's taking an Interest, - In h,ls youth, "to. ue Dunaio.- xnis - man, who is now head of the biological survey,' Is a Republican and was a' delegate to the Republican conven tion that nominated Hoover. Called Smart Move' v So a great many people think the smartest thing Mr. . Roosevelt has done since he entered the ' White House was to put Ding at the head Of the biological survey. The man is naturally Republican in his ten dencies, and Very- hard-headed,'- in deed, although a Progressive. . And the fact that' his '' pictures were printed In about 300 fairly, impor tant newspapers In this country every morning; before he arranged to lay oft -until his government. Job was completed, made him pretty nesrly a nightmare for anyone In high, office whose policies Ding might think ' humorous. f ;.He would be apt ' to get the ' whole country laughing at .the .unfortunate states man, f-;V'?; ?M'- i'i-:::VK :'!' , Which Is also the real answer to the. fact that he may surmount the tremendous difficulties in the path of -his plans to save game In this country. ' This despite his ; forth right declarations that $100,000,000 of the-taxpayers money has been poured "down a rat hole"., up to now " by . having stupid ..; political : wheel horses operate as state game wardens. . ; ''.: ' ' ( lAfivrtrht WND Service. liters Matanuska Colony as Seen From the Air TkLJm iM Mutunniilra colons the auspices of the United States government Note the road In the foreground and the farm buUdlnga above die camp. The dark patches are plowed ground, f ' r , TOWER OF STRENGTH William Tonv" Hearn. 8 feet 9 Inches, who will be the tallest man In professional football, shown talk ing to BUI Belt president of the Philadelphia Eagles, - ana wny s new boss. The bigger they are the harder they fall. Oh, yeah? Hitler's Double , JSS'Hll'IIIIIJlimjIIII IJ- SBSSBBS L -J X strange character bearing a striking resemblance to Adolf Hitler, German chancellor. Is shown hers strolling the promenade at Flee with the escorts who always accompany him when be venture outdoors. The guards' are necessary to protect him from attack by tli e who seek to overthrow the Nazi regime In Germany. Since the man n -'ts the some ...,,-ii, ,i h.i mt Hi H!f' r ha evldt-nllv enlova Ills n i liv a. i in th. new tttttemeot In Alaska consisting of people tent there under Sclidol Girl Wins ?'-a-'i'V-- Beatrice ABn'Frear, sixteen-year-old high school girl of Bvanston. nu who won the teague of Nations association high school contest, re ceiving her prize, tickets for a tour of Europe, from Mrs. Harrison Thomas or ew xorit, oirector oi.uie uhkiiuwi, :;-v .?:.!::',., Strolls in Nice 111 ITINERATrS i A Seeking Work n .Complicate v v Relief PROBLEM California's relief problem has f been complicated by the many fam ilies who have been crowding Into the state as the apple season opened in Sonoma county, Auto camps have been crowded by, people from all parts of the country. Resident la bor took a hopeless view as ram shackle cars seen at auto camps bore licenses from many other states. , s r . Most of those who have come have been In bad financial straits, snd a number of families have been forced to sell their cars for W to" $10. , Once this was gone, they were stranded, snd relief workers were being called upon to handle this ad ditional burden. , , - - I t y Trip to JEurppe j: REDUCES THE K. P. . Dr. James E. West, chief scout executive of the Boy Scouts, has banished dishwashing for the 80,000 boys wbo will attend the first Na tional Boy Scout Jamboree In Wash ington August 21-30. They will use paper plate and conserve time for sightseeing ; and other fun. . All scouts planning to attend should apply to their local scout headquar ters, v' :,:r'w'-"-lii' 7 Handling the "Wrongs" , . ; "Wrongs right , themselves," said Ul Ho, the sage of Chinatown, "yet wise supervision Is needed to pre vent them , from making way for new ones, more Irksome because t!" v are unfamiliar" . c;i cu hat NRA DECISION By ALFRED BI.OAN, JR. Motor Maxnattt. . Tll lighest wage scale is the best wage scale, provid ing it is not out of balance with other factors In (he national econ omy, ' i , Bo far as the broader Implica tions of the NBA decisions are con cerned, I am satisfied that they will eventually be recognised as vital steps forward In promoting a sane Industrial recovery; Sooner or later we are bound to recognise that regi mentation and bureaucracy hare no parv la our national economy. They can only produce one result low ered efficiency, Increased -costs and reduced standard of living. , - . . We have also to recognize the fallacy of the "theory, of scarcity" upon which many of bur recovery program are based. . Recovery can be promoted only by increasing pro ductivity. Arbitrary and uneconom ic Increases of the factors that make up prices penalise productivity and retard recovery. Employment is re duced as .irHrArt $i$&t&&.:ft. FOOLHARDY PANACEAS ' v winvrav. .tnMUlMM-.1''.''.1 Of Kattonal ; AiBOolatlon f Credit -'. Aden r, . 1 . IN THE broader field of en deavor that confronts us in 'these davs we must eventually find a growing responsibility taken by each Individual to do ms pit ior the betterment of mankind. .Here. is the Sold that presents tremen dous opportunities, but In our en deavor : fas promote ' the happiness. health and' the comfort of our peo ple, care must be exercised to -avow these foolhardy ? panaceas ; which have taken such a toll from people throughout history. vi-ftVi' i'is'i-'--1 We see the tanks of the unem nloved and many accept them as a permanent condition. They do not realize that half or tne people em ployed today are working in indus tries that did not exist 60 years ago. Fifty years hence half of our people gainfully employed in inaus try wUl probably, be performing labor as yet undiscovered, perhaps not even within the minds of the present generation,' 1 NATIONAL PROBLEMS ': "By HENRY A: "WALIACB TODAY, when farmers and X laboring men ask tor a deie-. gation of federal power equiva lent to the tariff or the corporate form of organization,, or tne iea eral banking structure, they are In danger of being" met by some such statement as this: :. it is not the nrovlnce- of the mm to consider the economic ad vantages or disadvantages of such a centralized system. It is sumcient that: the federal Constitution- does not provide for It" , . I am reminded of that famous observation by 'Justice' Holmes: "The life of the law 1 not logic; the Hie of the law is experience." Presumably if the, experience or the American 'people suggests that tha advantaffes .of attacking nation al problems nationally outweigh the disadvantages, then sooner or later national problem will be attacked nationally; Necessity Is the mother of sodaVss well as of mechanical, tawnUon.'-;! ); uriki mil Vun ftnilRTft ". " "Br CHARLES K. BUBDIck ; Dean of Cornell Law School. IN VIEW of the emergency and the consequent recogni tion of the common importance of any national- program adopted to meet general 'economic and so cial problems! It might be possible that the Supreme court would now uphold congressional legislation Im posing as a condition of interstate shipment of goods compliance with rules as to quantity of production, wages, hours , of worit and . collec tive bargaining. - THE TVA PROJECT 1 ' JfllTWTT HHOU8H B. v. PrMnt Amarioan Liberty Lesana. flpHE TVA js a perfect ex- jl ampie oi virresponsiuic po litical and economic; bureau cracy. Its declared objectives are, of course, commendable and prop er, but In reality the whole author ity is a federally sponsored experi ment in-state socialism. It is note worthy that no matter bow social istic some of our recent , experi ments are, their sponsors have re fused to present em under their proper labels. ' . 80CIAL SECURITY ' By MISS PRANCES PERKINS , . Secretar of Labor. T N TWO years the United 1 States has worked out a sys tem of job insurance that took Europe IS years to accomplish. The bill Is subject to change, for it is a human instrument, with human imperfections, representing com promises among various factions. But I know, that once It Is in the laws of this land we shall not aban don It, but improve upon it from year to yonr. - '' - WMIl S9rvlv .,':'"'. cr. K i. L 'i forty-thro.;, i t er amor j; t .t northweatera I -v : tlon, the squaw has prin white women in some siai She owns property. Her hAlnnff. tn her rlan . and u death her daughters inherit I erty. 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