BANKS CRITICISED
SECRETARY OF AMERICAN
TREASURY
WASHINGTON, February 16,
Testifying before the House of Representatives Appropriations Committee, Mr. H. M. Morgenthau, Secretary of the Treasury, criticised the failure of the banks to lend money for business and their investing it instead in Government bonds. He said: "There is every incentive to the banks to get business in their own communities."
Later, following conferences with Government officials, Mr, Morgenthau said that a plan for dealing with the inflow of capital and gold from foreign countries would be announced within a few days.
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Bibliographic details
Evening Post, Volume CXXIII, Issue 40, 17 February 1937, Page 11
Word Count
91BANKS CRITICISED Evening Post, Volume CXXIII, Issue 40, 17 February 1937, Page 11
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