CONGRESSIONAL RECORD
The Nomination of Eugene Mayer
The Vice PRESIDENT. The question is on the confirmation of the nomination of Eugene Meyer to be a member of the Federal Reserve Board. The Senator from Iowa [Mr Brookhart] has the floor.
Mr BROOKHART. Mr President, on yesterday I was explaining the flow of credit back to the big New York banks as due to the operations of the Federal Reserve law. I did not blame the Federal Reserve Board for that condition. That is due to the law itself. I asked Mr. Eugene Meyer about the matter. He had no opinion about it; he knew nothing about it. The examination of that man developed the most remarkable case of ignorance I ever knew of when it comes to important things. On nearly every proposition, including the bill of the Senator from Virginia [Mr Glass] to tax speculative sales, he had no opinion whatever, he knew nothing about them and crawled aways from them.
