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Senator Glass summarily rejected this scheme for what its sponsors call "controlled inflation" on the ground that it put autocratic powers in the hands of a small Washington group, the Federal Reserve Board. If there was to be currency inflation, the peppery little Virginian wanted it diffused throughout the land. If "governments" were to be turned into more currency, he wanted to short-circuit the Federal Reserve and hook the 7,600 national banks up directly with the Treasury and its Bureau of Engraving & Printing...

Author: /time Magazine | Title: BANKS: Diffusive Inflation | 6/13/1932 | See Source »

...Shaking hands with Mrs. Woodrow Wilson last month. He did not rise, because, though a gallant Virginian, he is 72 and Mrs. Wilson reached rapidly...

Author: /time Magazine | Title: THE CONGRESS: Work Done, Feb. 22, 1932 | 2/22/1932 | See Source »

...appropriation from $477,000 to $200,000, he took the floor to protest. Preoccupation with the father of the country which his own father adopted has bred in Sol Bloom a trace of Washington's fixity of purpose, his confidence in an ideal. With Washingtonian arrogance, though without Virginian hauteur, he wrote to a professor whom Mrs. Bloom had heard to say that Washington was not a great general: "Maybe he wasn't but England sent her best generals over here and he licked them. What do you make of that...

Author: /time Magazine | Title: Art: Business of a Bicentennial | 2/15/1932 | See Source »

Fortnight ago it looked as if the Glass Bill might pass Congress without serious difficulty. Democrats stood solidly behind the little Virginian. Insurgents were for anything that would discomfort Wall Street. But that was before the big bankers of the land had read the bill's text, made their outraged feelings known to Washington. The Treasury scowled a scowl of disapproval; Governor Meyer of the Federal Reserve Board looked displeased. Last week it was clear that the Glass Bill was scheduled for a major operation-by-amendment...

Author: /time Magazine | Title: National Affairs: Glass Bill | 2/8/1932 | See Source »

Said Lady Nancy Langhorne Aston "I never even let my husband know what money I have. It is a great distress to me that my bankers should know. ... I like to have a little in my heart that nobody knows about." Few days later Lady Astor, a native Virginian, allowed the Press to learn that she had telephoned from London a pledge of $200 to the Community Chest Fund of Richmond...

Author: /time Magazine | Title: People, Dec. 7, 1931 | 12/7/1931 | See Source »

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