Peeking

The situation was best described in a political cartoon of the moment: A valet, perched precariously on a window-ledge and peeking in through a lighted window at a damsel within, gestured excitedly to a gallant standing below. Another gallant was striding off down the street, having evidently refused the invitation. The gallant under the window eyed his departing peer. What to do?

The valet was labeled "Peek." The damsel, who might have been either weeping or sleeping, was labeled "Farm Vote." The departing gallant wore a haughty "G. O. P." label. The dubious gallant bore an unmistakable resemblance to Nominee Smith, and to make certainty certain, Cartoonist Homer Speltz of the Gopher Prairie, Wha.,* Clarion had labeled the figure "Dem."

"Peek," of course, was George Nelson Peek, the Democrat-Republican from Illinois who used to make plows at Moline, Ill.; who served Woodrow Wilson on the War Industries Board; who became chairman of the Committee of Twenty-two organized several years ago by Governor Hammill (Republican) of Iowa/- and other Farmers' Friends; and who lobbied the McNary-Haugen Bill (first version) through Congress from a desk in Vice President Dawes' ante-room.**

After the second vetoing of the McNary-Haugen bill last spring, Mr. Peek threatened the Republican Party with dire happenings. Nothing happened. Then he went to Houston and had the satisfaction of seeing the controversial principle of McNary-Haugenism written into the Democratic platform. He visited Manhattan last week to learn how the Democrats proposed to elaborate their platform. He arrived with assurances, much like those he voiced prior to the G. O. P. convention, that the Farmer was angry at the G. O. P., that the Farm Problem could be solved by McNary-Haugenism and by nothing else.

Farmers' Friend Peek is a stalwart gentleman, middleaged, enthusiastic, virile. He photographs like a professional wrestler, with his big broad chin tucked down toward his collar so that his neck swells. Chairman Raskob of the Democratic National Committee took a look at him and listened for four hours. Then Chairman Raskob issued a statement saying that he himself did not know so much about the Equalization Fee, but that the Farm Problem would be solved by "sane fundamentals and sound economics."

When Nominee Smith returned from an ocean bath on Long Island, he breakfasted with Mr. Peek. After breakfast Nominee Smith said he was more than ever satisfied with the Democratic plank on agriculture. Forthwith, Mr. Peek declared himself a Smith man. The press headlined: "G. O. P. Farm Chief Goes Over to Smith."

Then the New York World published an editorial. It said that, evidently, Nominee Smith regarded the principle of McNary-Haugenism as a good thing, but that the plan of it was bad. Nominee Smith approved the World's interpretation. Mr. Peek, now a Smith man, said nothing. Chairman Raskob announced the formation of a committee to supervise a strenuous fight for Corn Belt votes. It was also announced that the Democrats were in a better position to win one or more of the 13 Midwestern farm states. The Republicans announced that they were not worried.

What had happened politically (in terms of the cartoon) was this: the Democratic gallant had, at the valet's suggestion, paid his compliments to the damsel but remained uncertain whether she was sleeping or weeping. What had happened morally was that Nominee Smith had not committed himself on the Farm Problem beyond the terms of the Democratic plank. At the same time he had apparently persuaded Farmers' Friend Peek to stop insisting on a thing called the Equalization Fee.

That Frank O. Lowden, whom Mr. Peek backed strenuously but ineffectively for the Republican Presidential nomination, would bolt to Nominee Smith has been the wish-fathered hope of disgruntled farmers and opportunistic Democrats. They know that Mr. Lowden, farmer's advocate, is disgusted with the Republican farm plank and have pestered him for an insurgent declaration. Last week he was persuaded to speak at his summer home on one of the Thousand Islands of the St. Lawrence, but all he said was: "I will wholeheartedly cooperate with the next President of the U.S., whoever he may be, provided my co-operation is wanted, for the solution of this [agricultural] problem." Then he turned to his recreations--golf, fishing, boating, permitting politicians to be certain that he would make no bolt.

The Smith-Peek conference and the Lowden surmise having passed into Democratic annals, Chairman Raskob pondered the name of B. F. Yoakum. A long letter bearing that signature had followed Mr. Peek into Democratic headquarters. Benjamin F. Yoakum is a Democrat, a retired railroad executive* who developed the southwest's farming much as the late James J. Hill developed the northwest's. In his Manhattan office, he has been spending recent years offering sane and respected solutions of economic problems. Six years ago he suggested a plan of funding World War debts to the U. S., which in broad principle is now in force. Three years ago he talked with President Coolidge on another variant for the funding. The President listened to the soft-spoken old man and sent him to Senator Smoot. The Senator let him understand that political demands in Congress must modify any pure economic treatment of the debts (TIME, July 13, 1925).

Mr. Yoakum detests politics in business not for business. Last May, he urged President Coolidge to veto the McNary-Haugen bill. Later, he telegraphed the President his approval of the veto. When Senator Fess talked on farming at the Republican Convention, he used many of Mr. Yoakum's most comprehensive phrases. Senator Borah used the Yoakum farm figures. When Nebraska's governor, plump Adam McMullen, repudiated his own "farmers crusade" last June, it was after he had received a telegram from Mr. Yoakum.

Chairman Raskob gave heed to the heart of B. F. Yoakum's long letter: "The Democrats can present a marketing plan that is sound, practical and would be profitable to the farmers of the entire country, but they cannot do it by picking up the discarded remnants of the McNary-Haugen bill and following the false prophets of that discarded and exploded theory. They don't hold the farm vote in their pockets. They can't deliver it and any one who thinks they can will be deceived."

Finally, Chairman Raskob engaged Professor Edwin R. A. Seligman of Columbia University to make a research into the economic feasibility of farm relief. This was for Mr. Raskob personally. Professor Seligman has previously served Mr. Raskob well, by studying and championing in two thick volumes the instalment buying of commodities, particularly automobiles (TIME, Nov. 28).

* Wheatsylvania, imaginary but logical state of Middle America.

/-Governor Hammill, a Hooverite, last week denounced Mr. Peek: "When you assume to act for the entire Committee of Twenty-two, you violate the trust it has reposed in you."

** Farmer's Friend Peek's brother, Burton F. Peek, is a director of the Dawes bank in Chicago (Central Trust Co. of Illinois).

* Fifteen and more years ago chairman of the directorates and executive committees (for a time concurrently) of the St. Louis and San Francisco, the Chicago and Eastern Illinois, the Chicago Rock Island and Pacific.