(See Cover)
On a dollar measure, no arm of the Federal Government has so loud a say in so big a slice of U. S. business as the New Deal's Securities and Exchange Commission. Six different Acts of Congress give it power. Under the first (Securities Act of 1933) it has in six years passed on the registration statements of over 2,500 corporations issuing $15,591,262,000 of new securities. Under the second (Securities Exchange Act of 1934) it daily watches fluctuations in about $150,000,000,000 worth of stocks and bonds listed on 20 U. S....
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