Word: eccleses
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A banker has been defined as a man who offers you an umbrella, then wants it back when it starts to rain. There has been plenty of rain this year in U. S. economic life and bank vaults are stuffed with umbrellas-$2,500,000,000 in excess reserves. Last...
These remarks brought to light a behind-the-scenes fight between Mr. Eccles and the Treasury. The Federal Reserve Chairman would relax restrictions on bank investments and use bank regulations and examinations as the Federal Reserve uses its reserve requirements: loosen them in depressions, tighten them in booms. Stoutly opposed...
Mr. Diggs and Mr. Eccles are now on a committee with Chairman Leo Crowley of the Federal Deposit Insurance Corp. and Economic Adviser Cyril Upham of the Treasury for the specific purpose of rearranging and simplifying bank examinations and investment policies. Arrayed with Mr. Diggs are Messrs. Crowley and Upham...
Said Mr. Eccles, an original proponent of the spending program: "Mr. Ford didn't clash with me. I guess he said he didn't agree, and shook his head in dissent." Said Hall Roosevelt: "There was nothing that smacked of commercialism in any way. ... In fact, it reminded...
Enjoined to silence about the precise discussions, White House mouthpieces assiduously cultivated the impression that Mr. Ford had heard Chairman Eccles read off a prepared apologia for the spending spurt, had said little about it, had in general been about as talkative as a clam. Whatever he said to the...