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Story
June 12, 1931
Union Labor Bulletin
Little Rock, Pulaski County, Arkansas
What is this article about?
Congressman McFadden, in a speech to the National Association of Mutual Savings Banks, criticizes U.S. business practices for focusing on financial juggling and speculation rather than sound economic operations, blaming them partly for recent economic troubles.
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OCR Quality
95%
Excellent
Full Text
Washington, D. C.—Congressman McFadden, chairman of the House Committee on Banking and Currency, is not impressed by the alleged "acumen" and "far-sightedness" of men in the business world.
In an address to the annual convention of the National Association of Mutual Savings Banks, Mr. McFadden said:
"We hear much about the business world and its splendid handling of the business situation. The kind of business system that is developed in this country, however, together with our capitalistic form of operation, is partly responsible for what has happened. It seems to me as I look back over the happenings of the past few years that much of the management of some of our industrials, railroads, and business enterprises have been more interested in financial operations, incident to juggling for control through the form of consolidation, speculation and the like, than in the study and application of the technical details of the economic operation of their own particular properties."
In an address to the annual convention of the National Association of Mutual Savings Banks, Mr. McFadden said:
"We hear much about the business world and its splendid handling of the business situation. The kind of business system that is developed in this country, however, together with our capitalistic form of operation, is partly responsible for what has happened. It seems to me as I look back over the happenings of the past few years that much of the management of some of our industrials, railroads, and business enterprises have been more interested in financial operations, incident to juggling for control through the form of consolidation, speculation and the like, than in the study and application of the technical details of the economic operation of their own particular properties."
What sub-type of article is it?
Historical Event
What themes does it cover?
Deception
Misfortune
Justice
What keywords are associated?
Congressman Mcfadden
Business Criticism
Financial Speculation
Economic Management
Savings Banks Convention
What entities or persons were involved?
Congressman Mcfadden
Where did it happen?
Washington, D. C.
Story Details
Key Persons
Congressman Mcfadden
Location
Washington, D. C.
Story Details
Congressman McFadden criticizes business leaders for prioritizing financial speculation and control through consolidations over technical economic operations, contributing to recent economic issues, in a speech to the National Association of Mutual Savings Banks.