POLITICAL NOTES: Roosevelt & Power

New York's Democratic Governor Franklin Delano Roosevelt last week placed a whacking veto, resounding with such adjectives as "absurd," "unjust," "impracticable," upon a prime Republican power bill. The bill dealt with a state policy of valuation of utility properties for rate-fixing purposes. Governor Roosevelt stoutly reiterated the Democratic tenet, voiced clearly before now by such Democrats as Alfred Emanuel Smith and Owen D. Young, that the rate-fixing basis should be actual cost of plants and not the replacement cost thereof.

Immediately Montana's Democratic Senator Burton Kendall Wheeler, than whom none...