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Editorial
March 17, 1934
The Key West Citizen
Key West, Monroe County, Florida
What is this article about?
Editorial from Orlando Reporter-Star criticizes big bankers for paying themselves excessive salaries during a national banking crisis and credit shortage, blaming them for economic failures and worthless securities.
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IMMODERATE BANK SALARIES
(Orlando Reporter-Star)
While banks were cracking up all over the country and business houses generally were being pushed into bankruptcy because of short credit, the big bankers of the country were paying themselves munificent salaries. Like the men at the head of some other institutions of business and industry in which the public was interested they took good care of themselves regardless of the situation with the general public.
Big bankers are in a large measure responsible for the short credit that has prevailed for several years; they are responsible for the failure of many of the smaller banks; they are responsible for billions of dollars worth of worthless securities being sold to small banks and small investors.
No, they can hardly claim that they were entitled to big salaries because they were big men. By their works they must be judged. More people will rate those who drew the large salaries, big rascals than rate them big men.
(Orlando Reporter-Star)
While banks were cracking up all over the country and business houses generally were being pushed into bankruptcy because of short credit, the big bankers of the country were paying themselves munificent salaries. Like the men at the head of some other institutions of business and industry in which the public was interested they took good care of themselves regardless of the situation with the general public.
Big bankers are in a large measure responsible for the short credit that has prevailed for several years; they are responsible for the failure of many of the smaller banks; they are responsible for billions of dollars worth of worthless securities being sold to small banks and small investors.
No, they can hardly claim that they were entitled to big salaries because they were big men. By their works they must be judged. More people will rate those who drew the large salaries, big rascals than rate them big men.
What sub-type of article is it?
Economic Policy
Moral Or Religious
What keywords are associated?
Bank Salaries
Economic Crisis
Credit Shortage
Banker Responsibility
Worthless Securities
Bank Failures
What entities or persons were involved?
Big Bankers
Smaller Banks
Small Investors
Editorial Details
Primary Topic
Criticism Of Excessive Banker Salaries During Economic Crisis
Stance / Tone
Strongly Critical Of Bankers
Key Figures
Big Bankers
Smaller Banks
Small Investors
Key Arguments
Big Bankers Paid Themselves High Salaries Despite Widespread Bank Failures And Credit Shortages
Bankers Prioritized Their Own Interests Over The Public's During Economic Hardship
Big Bankers Are Responsible For Prolonged Short Credit
Big Bankers Caused Failures Of Smaller Banks
Big Bankers Responsible For Selling Worthless Securities To Small Banks And Investors
Bankers Not Entitled To High Salaries Based On Their Harmful Actions
Bankers Judged As Rascals Rather Than Big Men