Business: For the Defense

It is one thing when country editors yammer about the iniquities of Wall Street. It is quite another thing when, with bond prices following stocks down the long declivity of Depression,* such influential people as the Republican leader of the U. S. Senate publicly play with the idea of regulating the New York Stock Exchange by law (TIME, Oct. 12).

Last week the Exchange's official voice, which nowadays comes out of the mouth of tall, plump, slick-black-haired President Richard Whitney, was heard in formal defense of that Exchange practice which has fired hottest...

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