U.S. At War: Loan Man

Four days after Henry Wallace's confirmation as Commerce Secretary. Franklin Roosevelt announced his appointment for the other half of Jesse Jones's old job —Federal Loan Administrator. It surprised no one that his choice was Economic Stabilizer Fred Moore Vinson.

An ex-Congressman from Kentucky, an ex-Justice of the U.S. Court of Appeals in the District of Columbia, Fred Vinson is still best remembered for his hard, intelligent work on tax bills in the House. As Jimmy Byrnes's successor in OES, he has worked mightily to hold the line against inflation. An easygoing man with a quiet disdain of officious fuss-&-feathers, he was sure...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!