Word: eccleses
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This was the first major banking legislation in 25 years that Carter Glass did not have a hand in preparing. It was drafted in the Treasury under the eye of Governor Eccles. New Dealer though he is, Governor Eccles is a practical businessman and banker who has made and kept...
It was the Washington consensus that the banking bill had been speeded to Congress to divert Senator Glass from his attack on the $4,000,000,000 Work Relief Bill. Certainly the banking bill was cleared by the White House so quickly that Governor Eccles did not have a chance...
For Governor Eccles that apology must have been acutely embarrassing. His recess appointment to the Federal Reserve has yet to be confirmed by the Senate. It lies in a Banking & Currency subcommittee on Federal Reserve legislation headed by Senator Glass himself. Administration leaders thoughtfully packed the Glass subcommittee, but the...
First, as ever, came the Cabinet, in order of importance headed by Secretary of State Hull, tailed by Madam Secretary of Labor Perkins, (She was the only Cabinet member unaccompanied by her spouse, Mr. Paul Wilson.) Second came Congress, as represented by Senator Pat Harrison. Third, to the surprise of...
Last week Governor Eccles stepped to the stage front to pooh-pooh any radical impressions his Senate testimony may have created. "I have certainly, for instance, never advocated the redistribution of wealth," he said. "That is perfectly impossible under the capitalistic system."