FINANCE IN AMERICA
V CHAOTIC CONDITIONS
foreign Loans under fire
WASHINGTON, 9th May.
Opening a debate in. .thVSenate ok his Bill designed to remedy the chaotio condition in American banksj, including the-restriction of the activities of hank affiliates, particularly with reference t.« the marking of securities^ ■■• Senator; Glass severely attacked by inference, the; New York branch of the.Ffieral Eeserve as "giving more attention, to the stabilisation of Europe and making - enormous loans to.. European-institut-ions than.it had given to stabilising America." ' ". :. :
He' said that inch affiliates were de-clared-illegal twenty yesrffagp by the Solicitor-General. Howeyer,\the'. Attorn ney-General suppressed that - opinionV He criticised the. State' Department'! "passing upon foreign loans" prior t» issue, pointing out that billions oir dollars' worth of foreign securities held bjj American investors had now '"greatly; depreciated.""."- .•-"..:■
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Bibliographic details
Evening Post, Volume CXIII, Issue 110, 11 May 1932, Page 7
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128FINANCE IN AMERICA Evening Post, Volume CXIII, Issue 110, 11 May 1932, Page 7
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