Business & Finance: Bankers' Wisdom

Last week with 5,443 out of 6,736 Federal Reserve member banks and 7,654 out of 11,435 State banks* recovered from the banking holiday and again doing unrestricted business, the executive council of American Bankers Association assembled in Augusta, Ga., to play golf on Bobby Jones's Augusta National golf course and exchange profundities of hindsight. The A. B. A. Economic Policy Commission took up the task of expressing the refreshed financial wisdom of those members who were still bankers. Col. Leonard Porter Ayres, famed economist-vice president of Cleveland Trust Co. (one of Cleveland's big banks...

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