Business & Finance: Salaries

Forty-eight hours after Albert H. Wiggin admitted to the Senate Banking & Currency Committee last autumn that he was receiving $100,000 per year "retirement pay" from Chase National Bank, President Roosevelt announced he had begun studying legislation to control high salaries by taxation. He had already approved Federal Rail Coordinator Eastman's "suggestion" that railroad presidents fix their income at $60,000 or less. Then, on orders from the Senate, the Federal Trade Commission sent a questionnaire to some 2,000 corporations whose stock is listed on the New York Stock and Curb Exchanges. Resultant...

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