Facts & Figures, Jun. 7, 1948

No, Thank You. When Marriner Eccles, chairman of the Federal Reserve Board, was demoted, the President asked him to become vice chairman (TIME, Feb. 9). In four months the President never got around to making the actual appointment. Last week, considering the delay and "other developments," patient Mr. Eccles asked that the whole matter be dropped. He said he would continue as plain board member.

Foreign Issue. The World Bank sold its first issue of foreign currency bonds for $4,000,000 in Swiss francs to the Bank for International Settlements at Basel, Switzerland....

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!