Business & Finance: Coughlin on Detroit et al.

Henry Ford, Herbert Hoover, President Roosevelt, Senator James Couzens, the banks' officials, the Depression and J. Pierpont Morgan have all, individually and in sundry paradoxical combinations, been blamed for Detroit's banking troubles (TIME, Aug. 28 et ante). Last week Detroit was amazed to hear that a highly successful 18th Century London stockbroker whose father was a Dutch Jew was really responsible.

"The banks . . . were wrecked by the philosophy that money in the hands of the masses was a menace," shouted Detroit's spellbinding radio priest, Father Charles Edward Coughlin, testifying before Judge Harry...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!