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...Eccles bill placed the Federal Reserve Board under the thumb of the President by giving him power to appoint and remove at will the Governor and Vice Governor. To this Administration-controlled Board it gave centralized powers to fix rediscount rates and conduct open-market operations (powers that had previously belonged to the twelve regional Reserve Banks throughout the land); authority to alter reserve requirements, and to admit or deny virtually any collateral for rediscount. As the bill emerged after Senator Glass had worked on it, the Federal Reserve Board (renamed the "Board of Governors of the Federal Reserve System...

Author: /time Magazine | Title: National Affairs: One Day, Two Miracles | 8/5/1935 | See Source »

Among endless whispered Soviet quips at Josef Stalin is the one about Lenin's spunky, seamy-faced widow. "Tell that old woman," Dictator Stalin is supposed to have once roared, "that if she doesn't shut up, I'll appoint a new widow of Lenin...

Author: /time Magazine | Title: RUSSIA: Zags Jammed | 7/15/1935 | See Source »

...Oregon statesmen decided to end the long, bitter rivalry between University of Oregon at Eugene and Oregon State Agricultural College at Corvallis by lumping them with the State's three normal schools in one big happy family. Their curious method of furthering this pacification was to appoint William Jasper Kerr, longtime President of Oregon State, to be Chancellor of the new setup...

Author: /time Magazine | Title: Education: Referee for Dogfight | 7/1/1935 | See Source »

...officer who refused to honor the customary request for a resignation was Assistant Secretary of Commerce Ewing Young Mitchell, attorney and anti-machine Democrat from Missouri. Secretary Roper issued a soapy explanation that an engineer rather than a lawyer was required for the .job. got the President to appoint Engineer John Monroe Johnson from Mr. Roper's own South Carolina as Assistant Secretary. Two days after the ouster Attorney Mitchell charged that. "improper favoritism and graft abound" in the Commerce Department, that "serious derelictions" and "scandalous abuses" in the Steamboat Inspection Service led to such disasters as the burning...

Author: /time Magazine | Title: THE PRESIDENCY: Home Stretch | 6/24/1935 | See Source »

Flush with profits, von Ribbentrop turned to dabbling in German politics at a period when any mention of Adolf Hitler would cause President von Hindenburg to snort: "I wouldn't appoint that Austrian poltroon so much as a postman!" Undismayed, Major von Ribbentrop kept dropping hints among Der Feldmarschall's military entourage that it might be the smart thing to make some sort of deal with Hitler. Finally in January 1933, at the home of Cologne Banker Franz von Schroeder, von Ribbentrop engineered the first meeting of Political Upstart Adolf Hitler and weak, perpetually scheming Lieut.-Colonel Franz...

Author: /time Magazine | Title: INTERNATIONAL: North Sea Nexus | 6/24/1935 | See Source »

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