TALES OF "THE GREAT FREE MARKET": BERNARD BARUCH
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  Suitable and Inspiring Reading For Young Ladies and Gentlemen
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Curtis B.  Dall  married  Anna  Roosevelt,  daughter  of Franklin
Delano Roosevelt (FDR).  Because of  his  association  with  FDR,
President of the USA from 1933 through 1945, Mr. Dall was able to
meet  and  chat  with  several of the "behind the scenes" figures
during this historical period.

Mr.  Dall   describes,   in   his   book   *FDR:    My  Exploited
Father-in-Law*, how he managed to  meet  and  talk  with  Bernard
Baruch,  a  multi-millionaire  of  the time.  Curtis Dall, a Wall
Street  broker,   had   learned   that   Baruch   was  headed  to
president-elect  FDR's  residence  in  January  of  1933.    Dall
inserted himself into  FDR's  home,  and  waited to waylay Baruch
between the front door and FDR's study.

  Uptown, I carefully spruced up, after which I was  casually
  sitting  in  the panelled library on the second floor front
  around five-thirty.  I was  pretending  to read but, on the
  contrary, was listening for the front door bell to ring.

  Soon it did ring, and Reynolds, the butler, announced, "Mr.
  Baruch." 

  I greeted him as he entered the  room,  introduced  myself,
  and motioned to him to take the largest chair. He sat down.

  [After  I felt the "ice" had been broken,] I decided it was
  time  to  get  in  a  constructive  word  and  perhaps  get
  something for the "Score  Board"  from the legendary figure
  outside the Wall Street Ball Park.  So  I  let  go,  as  it
  were,  and said, "Mr. Baruch, what do you think of National
  Dairy Company stock as an investment?"

  He flashed a very pleasant, fatherly smile at me, and said,
  in effect, "A fine  company,  well managed, should continue
  to do very well in time."

  I realized that I had missed, so tried another shot.

  "Mr. Baruch, what do you think of DuPont as a buy?"

  Again, the same fatherly smile and  same  general  type  of
  reply.   "Very  fine company, diversifying nicely, splendid
  management, should continue to  do  very well indeed, as an
  investment stock."

  His two well-worded replies subdued me and so I sat back in
  my chair with a feeling that I was merely talking with  the
  experienced  writer  of  a "market letter" for the "whosis"
  firm, written for the boys west of the Hudson River.

  After a silence, he calmly said, "Mr. Dall, I think well of
  silver."

  For  a  moment,  I  felt  floored,  decidedly  off-base.  I
  managed to say, "You do, Mr. Baruch?"

  "Yes," he replied, "I do!  In fact, I own about 5/16ths  of
  the world's visible supply of silver."

  A  few  months  later, most startling news about silver did
  break in the press in a  rather casual manner!  In order to
  extend a friendly, political gesture, as it  were,  to  our
  western  silver  mining  states,  =Congress= authorized the
  U.S. Treasury to =double the price= it would pay for silver
  in the open market.

Like George Stephanopoulos says, "It's not =what= you know.  It's
=who=  you  know."   Curtis  Dall  knew  FDR, and that got him an
"introduction" to financier Bernard Baruch.  Same too with Monica
Lewinsky.   Sure,  she's  got  a  college  degree  in psychology.
"That's nice," (as a former math  teacher  of  mine  said.)   But
Monica Lewinsky is no dummy.  She didn't waste time polishing her
resume  and  honing her interview skills.  That's for saps, young
ladies and gentlemen!   Monica  just  had  her  daddy, a big-time
"contributor" to politicians, pull some strings and that got  her
a  job  at  the  White House.  Then, Monica-on-the-move impressed
intellectual  Bill  Clinton  so   much   with  her  knowledge  of
psychology that, next thing you know, Brainy Bill got his  friend
Vernon  Jordan  to  cinch  a job at Revlon for Monica.  Watch and
learn, young ladies and gentlemen!  You  too  can grow up to be a
success in America!

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