Newspapers / The Alleghany News and … / Dec. 17, 1936, edition 1 / Page 1
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SNAGS AT THE PARLEY The Pan-American conference continued last week at Buenoi Aires, with evidence of divergent viewpoints, chiefly between the United States and Argentina which has close ties with Europe. These are emphasised by the feci that Carlos Saavedra Lamas, Ar gentinian Foreign Minister, only recently presided over the Lea gue of Nations and lately receiv ed the Nobel peace prize. For this reason, and others, there is a reluctance on the part of his country to sever relationships with Europe and depend upon an American policy of concerted neu trality, involving the breaking of bonds more than four hundred years old. Moreover, the Argen tine idea of balancing foreign trade through bilateral pacts is diametrically opposed to Cordell Hull’s most-favored nation poli cies. GOOD WILL APPARENT Even if nothing Tesults from the parley except the usual run of platitudinous resolutions the gain that has been made is en couraging. The good-feeling en gendered prevents any break in the sincere friendship for the Unit ed State and President Roosevelt’s great defense of democratic ideals, at the opening session, has had a profound etffect, not only in South America but in other parts of the world. His remarks were plain' notice to the dictators of several nations that this hemis phere would unite to prevent ag gressive action on this side of the oceans. Of course, no formal tie had been proposed last week, and none may be effected, but the present tendency is to look to the development of such policies of national cooperation that will make effective the attitude of the republics of the Americans. ROOSEVELT RETURNS With the return of the Presi dent from his South American trip this week political develop ments in the capital, looking to ward the next session of Con gress, acquired new speed. The contest between Messrs. Rayburn and O’Connor is generally re garded as settled favorably to the former and there are some obser vers who take the view that the latter will face a fight, possibly, to hold his present position of power in the House because of what is Considered an unfavorable attitude to administration meas ures in the last session. How ever, we doubt if there is any thing to this suggestion. BORROWS AT LOW RATE Government credit continues to enjoy strength, judging by the big over-subscription of the $700, 000,000 13-17 year bond offering last week at the record low in terest of two and a half per cent. The issue was met by of fers of more than four times the amount with some mail orders not yet received. The money will be used to retire $400,000,000 in bills, pay $188,000,000 in inter est and increase the cash balance which Mr. Morgenthau desires to maintain at around a billion dol lars. The item for interest at tracts attention and emphasize! the importance of the* very low interest at which the government k securing funds. REPUBLICAN PLANS Senate Republicans are already figuring on the session next month and up comes the question of determining what test shall be applied to determine whether senator belongs to the party oi not. The fact is that all those whose original political attitude aligned them with the Republican party will be counted and in vited to attend the party caucus. This will include such senators as Norris, LaFollette, Shipstead and Lundeen. The former idea that a party man must have sup ported the presidential candidate will be waived, particularly view of the fact that both Gov and Col. Knox left party in 1912 to , Bull Moose Looking forward to father die mal prospects, with Only 17 menv hers classed as Republicans, tiu leader* hope to revive the part} end by adopting « liberal attitude toward legislative policies to give H a vigorous status. Son. Me Hary, Of Oregon, who is expectet to be elected floor leader, will have the assistance of Sen. Van denbeig, of Michigan, in these re habilitation moves. Committee assignments may be few unless the Democrats widen the ratio of representation to permit at least two Republicans on important committees. If former tradition is followed the ratio of representa tion will be five Democrats to one Republican. J
The Alleghany News and Star-Times (Sparta, N.C.)
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Dec. 17, 1936, edition 1
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