BANKS: Hold The Line

(See front cover)

Eleven of the twelve Governors of the twelve Federal Reserve Banks met extraordinarily in Washington last week to un-kink another bad knot in the credit rope with which they are trying to pull the country out of its economic ditch. From Boston New York and Philadelphia, from Richmond, Atlanta and Dallas, from Cleveland, Chicago and St. Louis, from Minneapolis and San Francisco, they answered the call for consultation from Eugene Meyer, Governor of the Federal Reserve Board, overlord of the nations credit and currency. Only George Henry Hamilton Governor...