Morgenthau Week

Last week Acting Secretary of the Treasury Morgenthau:

P: Ordered the Treasury's guards to keep their clothes cleaned and buttoned, their shoes shined, to refrain from smoking or reading on duty, to cease lounging at their posts, to "show respect for official superiors by standing at attention when approached or being addressed."

P: Issued Order No. 1, to prevent "loose talk" by Treasury underlings to the Press (see p. 40).

P: Appointed a super-staff of assistants: Earle Bailie to be in charge of fiscal affairs (see below); Herbert Gaston to be in charge of press relations; Columbia's Professor Roswell Magill to be his tax expert. After much quibbling and confusion as to the status of this staff it was revealed that they would be paid out of a special emergency $2,000,000 appropriation made by Congress to straighten out last March's bank holiday.

P: Called the Government's credit "as sound as the Rock of Gibraltar."

P: Was informed of an old Department of Justice ruling which prohibited an Acting Secretary from sitting on the Federal Reserve Board in place of the Secretary himself. "The less board meetings I have to attend the better," said busy Mr. Morgenthau. "I have the greatest respect for Governor Black [of the Federal Reserve] and I have every reason to believe it is mutual. I can go to Mr. Black's room any time and figuratively put my feet on his desk and discuss matters with him, and he can do the same with me."

P: Departed for Warm Springs and a "vacation rest planned long ago. . . ." He found President Roosevelt in the sanitarium's tepid swimming pool, plunged in to join him.

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