Word: chairmen
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Dates: during 1930-1939
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David Rockefeller '36 and Robert W. Edwards '38 are co-chairmen of the Committee to make the collections. Other men on the Committee include Shaun Kelly '36, Thomas H. Quinn '36, Raymond Dennott '36, George T. Skinner '37 and Malcolm E. Lewis...
Like the U. S. Constitution, the Federal Reserve System was originally designed with a full set of checks and balances. A check: to have the chairmen of the twelve regional Reserve Banks appointed by the Reserve Board in Washington. A balance: to have the governors (now presidents) named by the local directors of each Reserve Bank. Last year when the New Deal architects remodeled the Federal Reserve System into what for all practical purposes is a central bank of issue under political control, the reconstituted Reserve Board was given the power to veto the choices of the twelve Reserve Banks...
This was to be accomplished by the simple expedient of putting the Reserve Bank chairmanships on a "purely honorary basis." Net result in the first week was the laconic announcement that services of six of the ten present chairmen (there are two vacancies) would be "terminated" at the end of April. Presumably they found an "honorary basis" somewhat hollow. Two other chairmen- Atlanta's H. Warner Martin and Cleveland's E. S. Burke Jr. - apparently accepted the "honor." Another two were lucky...
...reason given by the Reserve Board for its campaign to liquidate chairmen is that it will put an "end to dual executive responsibility," something Chairman Eccles abhors. Another excuse was economy. Total salaries of the twelve chairmanships amounted to $285,000 annually. However, the Reserve Board has not the slightest legitimate interest in profits of the Reserve Banks, for the stockholders are the System's 6,400 member banks...
...chairmen of the ticket committee, R. Bennet Forbes and J. Spense Harvin have established the prices of admission as $2 per couple and $1.50 stag. Completing the committee in charge of the dance are H. Rushton Harwood, Jr., and Edwin Lichtig...