Morgenthau's Week

If Secretary of the Treasury Henry Morgenthau had been in Washington last week he would have found himself, as the No. 2 member of the Cabinet, in the peculiar position of Acting Vice President of the U. S. (see above). Instead Mr. Morgenthau was leaving France on his way home from a European vacation.

To shut off gossip about currency stabilization, Secretary Morgenthau picked Spain for his holiday, planned to keep out of France, booked his passage back on the Italian liner Rex. In his absence President Roosevelt warned all U. S. citizens to stay off Italian ships. Hence the obedient Mr. Morgenthau changed his itinerary, headed for Paris to take the Normandie's boat train. Only "accidentally" in the French capital, the Secretary of the Treasury nevertheless improved his time by twice chatting with Finance Minister Regnier. As a result, the Bourse hummed with rumors that the two men were talking stabilization of currency.

"Just shop talk," Secretary Morgenthau assured newshawks. "All I can say is that there are no obstacles on the American side."

Asked if further devaluation of the dollar was likely, Mr. Morgenthau shook his head, declared: "It is a weapon for use if needed. We are not looking for trouble, but, if anybody starts anything, it is there."

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