Business: Up Eccles

Last week President Roosevelt named as Governor of the Federal Reserve Board a onetime Republican who, eight days before Herbert Hoover left the White House, urged upon a Senate committee a recovery program which today can hardly be distinguished from the New Deal. Recommending big relief grants to the States, a $2,500,000,000 public works outlay, domestic allotment farm relief, high income and inheritance taxes, unification of the banking system and government regulation of the securities business, the witness smiled at the startled Senators and remarked:...

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