Since Britain's Lord Keynes and the U.S. Treasury's Harry D. White unveiled their international currency plans, many a U.S. banker has grumbled publicly & privately at the financial mumbo jumbo of "unitas" and "bancor" (TIME, April 5 et seq.). Almost to the last vice president they have pleaded for a simpler, more down-to-earth plan.
Last week they got one, from brisk, burly Leon Fraser, 54, president of the First National Bank of New York, who spoke before the New York Herald Tribune Forum in Manhattan. International Banker Fraser helped negotiate the Young and Dawes plans, and later (1933-35) served...
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