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...Free Hand. Moving into his spacious office in the grey, temple-fagaded Treasury building next door to the White House, Dillon called for every document since 1789 that provided a job description of the Secretary's portfolio, then set out to make the department his own. Unlike Secretary of State Rusk, Dillon did not have his top echelon of aides picked in advance by Kennedy. He took advantage of his free hand to build a Treasury staff that moneymen rate as possibly the best since the days of Alexander Hamilton. Dillon's right-hand...

Author: /time Magazine | Title: The Economy: Man with the Purse | 8/18/1961 | See Source »

...HENRY FOWLER, 52, Under Secretary. Witty, white-haired "Joe" Fowler is exactly the kind of tested, Washington-wise administrator that Dillon needs to run the daily routine of the department. A onetime lawyer for TVA, Fowler has served as counsel for a Senate subcom mittee, the Federal Power Commission and the War Production Board. He headed the Office of Defense Mobilization during the Korean war. Thorough, cautious and sound, Fowler worked on the task force that John Kennedy set up before his inauguration to consider antirecession plans...

Author: /time Magazine | Title: The Economy: Man with the Purse | 8/18/1961 | See Source »

...research director for the Federal Reserve Bank in New York, earned a reputation in his trade as "the best central banker in the world." He has a good teacher's ability to talk lucidly on complex subjects, makes a brilliant congressional witness. Roosa has been the man behind Dillon's efforts to lower long-term interest rates, improve the management of the national debt...

Author: /time Magazine | Title: The Economy: Man with the Purse | 8/18/1961 | See Source »

...Doug Dillon has managed to keep track of those directions without losing sight of the ultimate objective of his economic policy: convincing the uncommitted nations that U.S.-style free enterprise is both healthy and helpful, and better than Soviet-style Communism. "This is the challenge," Dillon once said, with his customary earnestness. "Are we going to persevere in our efforts to help the one billion people in the free world's less developed areas place themselves firmly on the road to progress? If we do not measure up to the challenge-if through unwise or inadequate actions...

Author: /time Magazine | Title: The Economy: Man with the Purse | 8/18/1961 | See Source »

...Other Dillon, Read alumni to serve in top Government jobs include William H. Draper Jr., who was Harry Truman's Under Secretary of the Army, and Paul Nitze, currently Assistant Secretary of Defense for International Security Affairs. *Dillon is the only Cabinet member who can match homes with Millionaire Jack Kennedy. Besides his Washington residence, he has an apartment on Manhattan's Fifth Avenue, a winter retreat at Kobe Sound, Fla., called La Lanterne, a summer place in Darkharbor, Me., an estate in Far Hills, N.J., a "cottage" at Versailles, France...

Author: /time Magazine | Title: The Economy: Man with the Purse | 8/18/1961 | See Source »

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