Last week Jesse Jones asked the House of Representatives to countersign a blank check already drawn for him by the Senate.
The provisions of the new RFC bill were staggering. If passed, Jones could: 1) Set up any corporation which the President thinks necessary to "expedite the defense program."
2) Lend money (with the President's approval) to any foreign Government, so long as the loan was secured—a device to enable the British to hock their U.S. holdings instead of selling those that now can be disposed of only at a sacrifice.
3) Increase RFC's lending capacity by $1,500,000,000.
To some the prospect of...
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