Word: tightenings
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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 to this are Acting Comptroller of the Currency Marshall Diggs, and former Comptroller J. F. T. O'Connor who resigned three months ago to run for Governor of California. Both Mr. O'Connor and Mr. Diggs prefer to consider investment and loan restrictions, as well as bank examinations...
...virtual dictator of Mexico. In rapid succession he dissolved his and Mexico's majority party, reorganized it to give the peasants and the army control, thus pulling labor's teeth. Next he shook up his Cabinet to make it 100% Cárdenas, shifted army heads to tighten his hold on the military and cracked down on labor by deciding that "useless" strikes are outlawed and he personally will determine which strikes are "useless...
...Universities were to raise their entrance standards there would be less need to tighten up on the scholastic requirements to stay in college; thus the problem would be attacked at its very roots, and many men would be spared the unnecessary pain of being "flunked out." It is unfair to handicap a man by admitting him to a college curriculum which he cannot met, and then send him home again with a feeling of inferiority...
Last week a repeal bill, proposed by Democrat Emanuel Celler of Brooklyn, reached the floor of the House. In Committee of the Whole, over the protests of women members of both parties, Democrat John J. Cochran of St. Louis succeeded in amending it so as to tighten instead of repeal the antimarriage clause. But final action was taken by the House itself. To the surprise and jubilation of the repeal forces the Cochran amendment was rejected. Straight repeal was voted, 203-to-129, and the bill was sent to the Senate, where its passage was expected. Broad smiles spread...
...Washington last week the Interstate Commerce Commission heard with apparent favor Chesapeake & Ohio Railway's plan to acquire direct control of the Erie and Nickel Plate to tighten two loose strands in the old Van Sweringen network. C. & O.'s past connections with another strand, Chicago & Eastern Illinois, meanwhile came under the pained scrutiny of Montana's Senator Wheeler and his committee investigating railroad finance. The evidence provided the Senator with his best illustration to date of how the late exceptional Brothers "Van" dummied their way through deal after deal to get what they wanted in spite...