Election 1944: Senator Guffey raps gold stand of Aldrich (9-22-44)

The Pittsburgh Press (September 22, 1944)


Guffey raps gold stand of Aldrich

Hits monetary plans ‘which cause wars’

Washington (UP) –
Senator Joseph Guffey (D-PA) today accused Winthrop Aldrich, New York banker who, he said, would be Secretary of the Treasury if Republicans win the Presidency, for advocating a return to the monetary conditions “which cause wars.”

Mr. Guffey told the Senate that Mr. Aldrich advocated “a return to the gold standard and Hoover economy.”

He also accused Governor Thomas E. Dewey, Republican presidential nominee, of paying “lip service” to nonpolitical efforts for international peace “while his prospective Secretary of the Treasury demands that the international monetary relations be left in the same hands that brought the world into a tailspin.

Mr. Guffey said:

Last Friday in Chicago, Mr. Aldrich, a disinterested New York banker and a financial supporter and adviser of Governor Dewey, came out flatly against the international monetary proposals developed at Bretton Woods. He advocated a unilateral agreement with Great Britain and the United States which would exclude

This philosophy, advocated by the man who, it is reported, would become Secretary of the Treasury in the event Mr. Dewey were to become President, is simply a return to the conditions which cause wars.

Mr. Guffey added:

Thus, we have the paradox of Governor Dewey giving lip service to an international political organization which would seek to prevent wars while his principal financial adviser speaks out against the kind of economic measures which would remove the cause of war.