Business & Finance: Federal Reserve v. Speculation

Into Congress last week overflowed the financial argument between Federal Reserve Board and Wall Street (TIME, Feb. 18). A mingled outburst of oratory, ethics, provincialism and a little economics was the result. The prevailing sentiment was strongly against the speculator. Since, however, the very Senators and Representatives who were most inclined to view Wall Street as the heart of the money octopus also regarded the Federal Reserve System as at least a tentacle of the same monster, the banker was scolded while the broker was flayed.

Senate. The Senate passed a resolution asking...

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