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Washington, D. C., As Viewed
By Tour Senator,
A. Willis Robertson
“BUSINESSMAN” CABINET
RAISES LEGAL PROBLEM
Last November the American people clearly indicated a desire for more economy and efficiency in their government. In order to give the nation a “business” administration, President Eisenhower sought the services of some of the ablest businessmen in the nation. But, some of those businessmen found themselves confronted with a statutory provision against doing business with companies in which they had a financial interest.
In hearings before the Senate Armed Services Committee it developed that Charles E. Wilson, chosen for Secretary of Defense, owned more than $2,500,000 worth of stock in General Motors, plus additional stock bonus rights and that the men Wilson had picked for his deputy and for Secretaries of he Army, Navy and Air Force also were substantially interested in companies which do business with the government.
The pattern by which this problem could be solved was set several days later when Wilson indicated his willingness to dispose of his holdings although it might cost him $500„000 or more in addition to die loss he was taking by acepting a $22,500 salary instead of the $600,000 a year he had been geting.
He had been preceded in this course however, by Mr. Anderson, of Texas the designee for Secretary of the Navy. Mr. Anderson, whom I personally know and greatly admire, knew what he was up against because several years ago he was seriously considered for appointment to the Federal Reserve Board. Carter Glass was a man who never dwelt in any twilight zone and when he drew the Federal Reserve Act, he wrote into it that no man should serve on that Board who was an officer or director of any hank, banking institution, trust company or Federal Reserve Bank or who held stock in any such institution. Anderson turned down the appointment to the Federal Reserve
tion for the balance of the team: management, capital investment and, last but not least, the public
One of the read devils in the law as it presently stands seems to be its widely-used nickname, the TaftHartley law. But this is a matter of no real moment, since it was merely derived—as is the case of names of its authors, who were Senator Robert A. Taft and ex-Congressman Fred A. Hartley.
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