Word: aldriches
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Dates: during 1930-1939
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Died, John Armstrong Chaloner (Chanler), 72, eccentric brother of seven rich descendants of Peter Stuyvesant and John Jacob Astor-the late Artist Robert Armstrong ("Sheriff Bob"), onetime Lieutenant Governor of New York Lewis Stuyvesant, onetime Congressman William Astor, Winthrop Astor Chanler, Mrs. John Jay Chapman, Mrs. Richard Aldrich, Mrs. Christopher Temple Emmet; of cancer; in Charlottesville, Va. Because of business affairs and his marriage to author Amelie Rives (now Princess Troubetzkoy), Brother John quarreled with his family, three of whom got him committed to Bloomingdale Hospital in 1897. He escaped to Virginia, had himself declared sane by the courts...
Saito prides himself on his U. S. ways, his "Americanese" ("made," he jokes, "in Japan"). In Washington he has staffed his Delano & Aldrich, neo-Georgian Embassy with what he believes are the closest Oriental approximations of U. S. "good fellows." His corps of 18 (the British have 15) is more numerous and harder-working than that of any other Embassy. Having observed the lobbying tactics of fellow-Washingtonians, shrewd Hirosi Saito spends most of his Embassy allowance for "representation" not on balls and champagne for Washington socialites but on highballs and beefsteak suppers for the Press. When he makes...
Among senators a bad argument is as effective as a good one, so that Mr. Aldrich's stand on the Banking Bill need not be too carefully analyzed. But from the point of view of the general public, Mr. Aldrich should have clarified the issue more carefully and consistently than he did. After all, the senators are a select group who can be fooled most of the time; the public must be dealt with more carefully...
Most of Mr. Aldrich's criticism was directed against the very principle of the banking measure. He called it "despotic." Unfortunately, that is no criticism at all. A centrally controlled bank, to realize its advantages, must be despotic. A centrally controlled bank, to realize its advantages, must be despotic. If only there had been an intelligent, central despotism of bank-credit during the boom, part of the present depression might have been avoided...
...Aldrich, in his criticism, was perfectly aware of this. But by confusing the issue of central bank vs. the old type of Federal Reserve System, with the issue of political control, he weakened his case. A new method of choosing the members of the Federal Reserve Board, and the assurance of their political independence, such as is suggested by Walter Lippmann, would make the present bill extremely good. Certainly we do not want to repeat the experiences in the Reserve System during the recent boom and present depression...