National Affairs: The Young Plan

Before the House Ways & Means Committee last week passed an unusual parade of potent bankers and businessmen. They had hurried anxiously to Washington to protest against any premature cashing of the Soldier Bonus as a form of Depression relief (TIME, Feb. 9). Charles Edwin Mitchell, board chairman of great National City Bank of New York, declared that a $3,500,000,000 U. S. bond issue to pay off the adjusted service certificates would cause "hundreds and hundreds of bank failures" throughout the land. Arthur Reynolds, board chairman of...

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