RFC Chairman Jesse Jones finally admitted that banks were doing their part in lending to business. Secretary of the Treasury Morgenthau sent a platoon of professors into the Chicago Federal Reserve district to find out who was holding up credit expansion. But not until last week did it occur to anyone in Washington to look for the Administration's pet banking villain right inside the Treasury. At a Washington conference of national bank examiners President Francis Marion Law of the American Bankers Association politely suggested that perhaps the periodic examinations were so strict that...
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