Hoarders of available credit are little better than hoarders of currency.
Ever since he thus addressed the American Bankers Association last summer, RFC Chairman Jesse Jones has been hammering away at the idea that commercial banks must loosen up on industrial credit to finance recovery. By way of example this big breezy Texan scattered hundreds of millions of dollars in Federal loans up and down the country. If commercial bankers refused to follow his pace, he threatened again & again to put the RFC directly into the commercial banking field and take away the business of private sluggards.
Last week the American Banker...
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