BOARDS & BUREAUS
Gumptious Governor
First step in President Roosevelt's inflation program calls for the Federal Reserve System to enter the open market and buy up to $3,000,000,000 worth of U. S. securities. With the purchase money commercial banks would expand credit to their customers, help industry and business to get started again. Last year President Hoover tried this method of credit inflation to the tune of nearly $1,000,000,000. It did not succeed because the period was one of liquidation. Now that pressure has been relaxed, if not definitely reversed, President Roosevelt...
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