“GONE FOR GOOD”

Poverty Bay Herald, Volume LX, Issue 18255, 25 November 1933, Page 12

“GONE FOR GOOD”

MR. WILLIAM WOODIN PRESIDENT’S POLICY OPPOSED WASHINGTON, Nov. 15 Indefinite leave of absence was started to-day by Mr. William H. Woodin, the “sound money” Secretary of the Treasury—and lie will never come back. President Roosevelt chose to mako the announcement in this way after admitting that Mr. Woodin recently had tendered his unconditional resignation. Mr. Woodin’s health is not good, but the real reason for his retirement is his Jack of faith in the President’s gold programme. At the same time he does not wish to embarras Mr. Roosevelt personally, and agreed to “slide out” with a minimum of discomfort for everyone concerned.

More significant is the additional announcement of the resignation of Mr. Dean Acheson, a rising financier of the old school, who has been a very active Assistant-Secretary of the Treasury. Mr. Acheson conducted most of. the recent British debt negotiations, and his retirement may have something to do with the failure to achieve success there. Control of the Treasury, combining tlie positions vacated by Mr. Woodin and Mr. Acheson, has been taken over by Mr. Henry Morgenthau, jitn., the former governor of the farm credit administration. He is a son of a former Ambassador to Turkey, and is a close personal friend of Mr. Roosevelt, whose financial policy lie will follow, no matter where it loads.