The Bismarck Tribune Newspaper, November 10, 1937, Page 6

— A © during the last year. That is why retail sales didn’t follow the HER SS Pe eben 6 The Bismarck Tribune An Independent Newspaper THE STATE’S OLDEST NEWSPAPER (Established 1873) State, City and County Official Newspeper Published daily except Sunday by The Bismarck Tribune Company, Bis- marek, N, D., and entered at the postoffice at Bismarck as second class mail matter. Mrs. Stella I. Mann President and Treasurer Archie O. Johnson Kenneth W. Simons Vice Pres. and Gen'l. Manager Secretary and Editor Subscription Rates Payable in Advance Daily by carrier, per year ........-- Daily by mail per year (in Bismarck) . Daily by mail per year (in state outside Daily by mail outside of North Dakota . Weekly by mail in state, per year ...... Weekly by mail outside of North Dakota, per year ‘Weekly by mail in Canada, per year ........-...+ Member of the Associated Press The Associated Press is exclusively entitled to the use for republica- Behind Scenes Washington Roosevelt Sees Enemies’ Hand in Stock Market Decline and Business Slump + + . Open Administration-Capital Conflict Forecast . . . President Loses Business Men Allies. By RODNEY DUTCHER (Tribune Washington Correspondent) Washington, Nov. 10.—This is an- other of those screwy periods in New Deal history when pundits solemnly ask each other and their readers whether Roosevelt is going “to go to the right or to the left.” When this question is raised, a!) veteran observers who are capable of learning by experience automati- cally lean back and predict with a yawn that subsequen(wigglings of the r toward the Member of Audit Bureau of Circulation ear ian tka : pi sk & Hits Wall Street Foes Nevertheless, the degree of pressure ti ft the 3 dispatches credited to it or not otherwise credited in this | trom call Tewapaper and also the focal news of spontaneous origin published herein. lonviee eet et right prvbably 5 ‘All rights of republication of all other matter herein are also reserved. any previous time. It reached un- precedented strength just before the Pacifistic Mr. Wallace president’s federal reserve dedication speech, But Roosevelt ignored desper- President Roosevelt hasn’t yet disclosed his detailed plans | 3+. conservative pisas’ to give eal for governmental reorganization to the nation but already a jness various reassurances. Lately the federal reserve board’s barrage of propaganda has been raised against the creation in | eduction of stock market margin re- the interior department of a bureau of conservation which | quirements from 85 to 40 per cent would take over, among other things, the forest service. has been widely interpreted as an administration concession to Wall Conservation leaders everywhere are opposing the idea, |Street. It was. But the only reason for it was the fact that Roosevelt and sometimes with more light than heat. Their valid argument! chairman Eccles were especially anx- is that the major conservation program has to do, in the last/tous to impose a new 50 per cent margin requirement on short sales analysis with soil use. And this job had best be concentrated | ira‘make the reduction just to make in the Department of Agriculture which runs such agencies |i: appear that they were doing more than kicking Wall Street in the face. as the AAA and other set-ups dealing with farmers. Net atlas ti & bese ak a This seems logical. The tail ought to go with the hide. A real or fancied foes in Wall Street. Roosevelt intimates who have seen separate department of conservation MIGHT be justified but | iim lately agree on two points: to move certain functions from the Department of Agriculture to that of the Interior, thus dividing the farmers interests among political bureaus, is indefensible. It is too much divided now, First, his well-known gaiety, buoy- ance, optimism, and confidence are as conspicuous as ever, Second, the president believes that decline, If not of the buslvess decline : ; ecline, An illogical criticism is that the only motive behind the | itseir, A ar dettberately cngionared effort is the desire for power on the part of Secretary of Interior | Plan by certain groups Ge) on dis- Ickes. Many observers credit Mr. Ickes only with bad inten- crediting the Some of his more conservative in- tions. They leave the inference that he wants power only that | timates admit that this slarms them. he may muict the people’s interest. The record dosn’t justify such an observation. It does the cause of sound conservation ee * Blames Business It must be remmbered that New Deal theory, however vague it may harm to challenge Mr. Ickes’ RIGHTEOUSNESS even though be mi there is grave doubt if he is RIGHT in the progfam which he|eimed “at Yeeping the, caphenets advocates. system functioning on all six, if thet be possible. The president, you may Those who attack Ickes also turn their fire on Henry Wal-|pbe sure, believes that practically all lace as head of the Department of Agriculture. He has forbid-|>usiness troubles are brought den anyone in the department to talk about the proposed shake- ‘ Itself by business, He is convinced that rebellion’ up. He will do whatever talking is to be done, And he has industry against New Deal laws, . a certain amount of deliberate maintained a strict silence. tage, has been » factor in the current This leaves it up wholly to outsiders to protest the pro-|slump. If big business men had not preferred to defy the National Labor posed change. And they resent it. They wish Mr. Wallace Relations act, he believes, industry weren’t such a pacifist. They want him to get in and fight | would not have stocked up inven! that phase of the re-organization which they feel would at hlghipeioes ea pesca Ht strengthen Ickes’ hand. ‘ aes fe ro fuss he feels, they would So many complications enter the picture that it is impos. paatdbatte heey raising prices sible to list them all, but two may be mentioned as having more | extent, than ordinary weight. The New idea is that li men should be content with The first is the history of the Interior Department. It has|unit protits and make their often been the source of major scandal and, no matter how out of volume. Meanwhile, Roosevelt figures that his job honestly or efficiently it may be administered now, the UN-/yeep business from wounding itself savory smell lingers, Farmers will be reluctant to turn any |and committing mayhem on the interest of theirs over to a branch of the government which has permitted the ruthless grabs of one kind or another which have gone down in history. On the other hand, the arid and semi-arid west have no! fact that the a Roosevelt” atti- love for the Wallace policy as it pertains to reclamation and | ‘de of most the development of irrigation. The Interior Department has | ze; been more interested in these developments and has, on the |o whole, done a fine job. And most of the national forests are in the west. . Support For Business Big Business, generally, seems to.be frightened but Little Business isn’t. And that is a good thing for the nation. ous Ke be = ee important Maybe Little Business doesn’t see so far ahead as Big Business. Maybe it doesn’t give proper weight to all the dis- turbing factors facing the nation. Maybe it has only the cour- age of ignorance. But in this nation someone needs to have courage and, whatever the cause of the confidence of Little Business, the nation should be grateful for it. If Little Business got as scared as Big Business after the recent stock market collapse things would be in a pretty bad way right now. The fact is that Little Business has more interest in the | dollar in the consumers pocket than in stock prices—and goes out to get it: This seems practical. The experts say the dollars are there waiting to be spent | for the most attractive goods and services. In September, ac- cording to the National Industrial Conference board, unemploy- | ment declined 134,000 as compared with August, leaving | 6,066,000 idle. But 47,075,000 were at work in private enterprise and per- mgnent government agencies. : And their average net income is higher now than it was | myearago. The Bureau of Industrial service reports a gain of 16 cents on the-dollar in “real income” for the average worker | stock market into a decline. The average man has $1.21 for every dollar he had a year ago and must spend $1.06 to pur- chase what a dollar bought a year ago. That 15 cents can go into = _ Savings or into the purchase | PURCHASING POWER of more necessities — maybe | September, 1937, red more luxuries. with September, 1936 At the right is the way the purchasing power chart looks: This gives confidence to Little Business, which lives close to its customers. It shows | why things are going ahead. i It is a warning, too. For | ft says farm purchasing power is coming back—al- ready is back in wide areas. ‘And that means business will be better, much better, be- fore . gets worse. le ie Wi ? 't sell arning 4 Lis ddd Cosh Income-1937 R MMMM —Yy Cash Outgo-1937 L mastery. The state of the president’s mind (Copyright, 1937, NEA Service, Inc.) THE BISMARCK TRIBUNE, WEDNESDAY, NOVEMBER 10, 1937 | | It Looks Likea Long, Cold Winter | . will answer questions pertaining to ror diagroee Writs letters briefly ond in ink. ‘ribune, All ft self-addressed envelope. f : I E The Great Game of POL Copyright 1037, by The Baltimere Sep [ tions where they ha as his friends|influence fiscal policy. At the and the character of his recent|ment there is division among thi proposes to trans- |Some are te talk into action in the serious/dition of thi f budget balancing, he ought |hold that retrenchment sary and want to THE AX IS THE ANSWER If Mr. Roosevelt, i fi eeae i at RE. 4 abe treasury; others still ‘ fl Al | g by blicans well as anti-New Deal Democrats. For either of these elements to/the treasury at the thhold aid will convict them nut/jlion a year. l $23 g Fez ie it *s iW . There is no excuse to fall Fs Hh Ba i : id z8 al EF i a8 : i uy a Fy “3 i Th : a iy ie E 3 3 i f i iu & a i iy s g a i E g i i H E i g iid PEE i B z i gee au st $ eS ‘i i : : Among the president’s intimates, in and out of congress, have always been ® number who, convinced in their own minds of the absurdity of ortho- |dox financial methods and: certain in their cocksure way that unlimited ‘imoney always can be obtained by heavier taxes on the rich, have urged upon him the futility of economy and the silliness of bothering about de- if iu E na it #n53 ak H E ¥ WENTWORTH, Jill's YaCK WENTWORTH, Jill's SYLVIA SUTTON, off heiress, have been put in high official posi- Famous Surgeon ever lit was worth it.” “Worth it!” Alan stared. “You're an infant in atms. How many ; : BIT OF HUMOR NOW AND THEN IS RELISHED BY THE BEST OF MEN Geography teacher: “Billy, de- scribe a niche in a church.” Billy: “An itch in a church is the same as any other one, only you shouldn't scratch it.” The diner found a fly in his soup rata crossly, “Waiter, what is Waiter — “That sir, is a Vitamin Bee.” Drugeist (infuriated at being [ I Fea i HORIZONTAL - Answer to Previous Puzsie ES i i F i E E i : isi tf El MESA! O MNGMG OAM 23 UINIIITIEMER| JOMESIEIRIATI BlelTIsI i} HE Fizé iF By i bea o 22 Type standard 44 Sun. ists. S0Turkish chief sums for a BEES il Bu eB aaa eee 3 i ig Bis Jn Zee Bn B dd PITT eee & ii Fp 2 $ health Address re ‘queries must be accompanied by a stampe: j 1 ff acti srt a fist wcll cl ye, Ee fi rit ell lal i FAbErTLdbetale ey (MARY RAYMOND. GY Geayiahh, 1937, NEA Servien, les, him to accompany her home, He “Tm 20 glad,” Jill saéd, simply.| tti64, reasonably, to justity her. “It's wonderfull” tek There might be an old grouch for i Jill's voice was calm. “T'ta sure ciees feel, doubling back on And then, suddenly, they were both very quiet, A lump was in Jill's throat. It was happening. ictures for $9000 w |be "knew ft without words, A for ? Name one.’ strong tide of feeling was rushing T don’t know any artist except) ¢-cen ‘Alan to her. His hand, hold- ing hers, shook a little. There was rad odes ar it oasis 4 '9| the ride could last forever. Nes Se how, ath calles the cba iver. np “dust drive sounds queer.” cab swung around and Alan the slowing tip| hand again’ pressing it hard. An cigarét now, and missed fen cores be ae, aie eyes, After 8 coming! thought, ganda Tact toon a mat ‘would of moments before Alan kissed But, abruptly, Alan was telling the driver to stop. “It’s getting She pere|late,” he said. “You haven't any same, I'm] business going back alone, But if ge iad calc AE cob rec pda ictal st is that| through the perked cova : Alan replied.|the lights of the bus aeatee I feel like I’ve |nearer. Soon she would be on it the best thing| whirled under the tall arch, un- I put more/der the words written there: “Let Dice Dee | ot raise §| sanderd to which ibe wise honest can repair. color and|evert is in the band of Goa" She felt very small, very uncer- and went and uneasy, standing beside ) SF sO EE : : & Hj