FISCAL: Eccles on Economics

Fiscal 1940 will not have been swaddled in Franklin Roosevelt's budget message until this week, but its pre-natal cries promised a worthy successor to fiscal 1939. the bouncingest budget ($8,985,000,000) of all. They brought worrying to the bedside such influential Democratic physicians as John Nance Garner, South Carolina's Jimmy Byrnes, Virginia's Harry Flood Byrd. In Boston last month Senator Byrd expounded his worries about spending which he blamed on the "crackpot" .theories of Marriner Stoddard Eccles, chairman of the Federal Reserve Board. This week Chairman Eccles, a banker who favors pump-priming...

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