Business: Banks

Emerging from a "purely social" call on President Roosevelt one day last week, Radio Priest Charles Edward Coughlin announced to White House newshawks that he was preparing a test suit challenging the constitutionality of the Federal Reserve Act. Though the Act has survived several Supreme Court reviews in the 21 years it has been on the books, the banker-baiting Detroit priest proposed to attack it this time on the ground that Congress had illegally delegated its power over currency to private bankers.

Last week, however, U. S. bankers had other things to worry about...

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