Magazine content is available exclusively for TIME subscribers.National Affairs: Reserve Review
Widespread among financiers is the conviction that U. S. banking is undergoing the most important and fundamental change in its history. Certain it is that historians will look back upon the 1920-1940 era as one of sensational disturbances, major tragedies and new developments in U. S. and world finance.
During the past month an attempt has been made in Congress to get above the immediate crosscurrents of U. S. finance and take a long view backward and forward. Planting itself at the halfway point of the Era...
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