Should the Reconstruction Finance Corp. be abolished? Arkansas Democrat J. William Fulbright, whose Senate banking subcommittee is now investigating RFC (TIME, April 24), last week found somebody who thinks so: Texas Banker Jesse H. Jones, head of RFC for 13 years after the agency was first set up in 1932.
Wrote Jones to the subcommittee: "I think [RFC] should be given a decent burial, lock, stock & barrel. None of the emergency conditions which prompted [its] creation exists today. When the Government finances business, it is competing with private enterprise from which it gets much of its income. When it...
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