Word: wiggineers
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...notes remained unchanged for the week at 59.9%. Currency in circulation decreased $24,000,000, showed hoarding less popular. Wheat was up 20? from its low; cotton advanced $6 a bale. Appearing in Washington before the Senate Committee on Manufactures, New York's important Banker Albert Henry Wiggin (Chase National) was questioned by young Senator Robert Marion La Follette...
Testimony was being taken to determine whether some government agency could be by Congress to prevent future Depressions, something in the nature of a national economic council. Banker Wiggin, questioned on this said. "I don't think so. A man only lives so many years and his experience only lasts with him so many years. New generations succeed and they will make the same blunders. ... I don't think an economic council would do any harm, but I don't think it would do much good...
...think you are looking for a super-man," replied the Banker. "There isn't any. Once in so many years we are going to have hard times." For the present Banker Wiggin said he saw a "substantial improvement" in U. S. business, urged "a liberalizing of the Sherman Act" as a helpful move...
...Paris knows Jimmy Walker, who rode grinning in the middle (see cut). The third backseat rider, Chairman Albert Henry Wiggin of Manhattan's Chase National Bank, has nobody knows how many foreign commitments. Appropriately Mayor Jimmy made Banker Al the City's official greeter. Striking the note of a hen on anxious eggs at the City Hall, Mr. Wiggin greeted...
Abroad the reaction was less favorable. In England, .Lombard Streeters referred to the plan as "a damp squib." Sir Walter Layton, Bank of England's representative on the Wiggin Committee, said it was "controlled inflation." In Paris the criticism was sharper, the eventual reaction on the Bourse violent. The third bank failure in Paris in ten days was announced, that of Banque Syndicale...