Looking Up

THE PRESIDENCY

In the early days of the Depression President Hoover used to tell the country in direct discourse how and when he expected a turn in the economic tide. When his forecasts failed, he lapsed into worried silence. Last week for the first time in months he again spoke encouragingly to the nation on economic improvement--but only in indirect discourse. The Press trooped into his office, jotted down his "background" facts and figures and departed to notify their readers that President Hoover believes business is now looking up. After three bad weeks, the White House based its hopeful opinion on these factors:

1) The banking crisis had passed. In the nine weeks before Reconstruction Finance Corp. was cheated, 655 banks with $478,000,000 in deposits went under. In a like period since R. F. C.'s establishment only 77 banks with $25,000,000 in deposits closed.

2) Where $400,000,000 in currency was withdrawn from circulation by hoarders in Decemfber and January, $250,000,000 had been returned in the past two months.

3) Public fright over the tax bill had subsided with the knowledge that the Budget would be balanced.

4) The $2,400,000,000 Soldier Bonus was definitely beaten. Congress cannot muster a two-thirds majority to repass it over a Presidential veto.

5) National business has a firmer tone now that liquidation of security values has spent itself.

Next day Representative Strong of Kansas called at the White House, spent an hour talking business conditions with President Hoover. He came out fairly burbling: "That was the most satisfactory talk I've had with any President in the past 13 years. Conditions are getting better. The President was in high spirits over the economic improvement. He has a remarkable grasp of the whole situation."

P: President Hoover's only active opponent for the Presidential nomination is onetime Senator Joseph Irwin France of Maryland. Last week Mr. Hoover decided to dispose of bumptious Dr. France on his home grounds by filing as a candidate in the Maryland preference primary to be held May 2.

P: After having his picture taken with delegations from the National Association of Credit Men and from the American Bandmasters Association, President Hoover stepped quickly back into his office to shake hands with Ely Culbertson, bridge expert. Said Mr. Culbertson to Mr. Hoover: "I don't envy you your job but if you want to be re-elected the most certain way is to pass a law abolishing kibitzers. You certainly have plenty yourself. . . . Bridge is the light wine and beer solution of the gambling problem."

P: Still deadlocked last week were President Hoover and Democratic leaders of the House on how & where to reduce Government expenses. To the Capitol the President sent a 31-page omnibus bill which, if passed, would he said effect a $225,000,000 saving. The principal dispute was over Government wages. President Hoover wants to keep the pay scale as it is but put employes on a five-day week by means of a staggered furlough which would require each worker to take off one month per year without pay. House leaders favor a straight 11% pay cut. Meanwhile last week the 1932 Deficit silently crossed the two-billion-dollar line for the first time.

P: Senator Royal Samuel Copeland, Democrat of New York, is a homeopathic physician--a fact he never likes to let his public forget. One sure way he has found to remind them is to call on the President, emerge with a report of his health. Last week a "minor matter" took the Senator to the White House. His report: "I found President Hoover looking much better than he did the last time I looked him over. He's in fine shape physically and doesn't appear to be tired or worn."

P: On the south lawn of the White House stood 17-year-old Betty Thompson Hanna of Camden, N. J. with her arms full of peach blossoms. "Mr. President," she said. "I'm presenting you these peach blossoms on behalf of the South Jersey Blossom Festival. I hope you can attend." President Hoover took the peach blossoms, smelled them, replied: "These are beautiful apple blossoms. I trust the apple blossom festival will yield an abundant harvest."

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