Economic Danger Quotes
The legislation creating the Federal Reserve Board was then being debated. A few days later it passed despite reservations from Lodge and others. The powers relegated to the Federal Reserve Board have been debated ever since.
Reading this quotation illustrates how some things in America change hardly at all over time. His description of the conservatives of his day, was the same that a liberal might make 60 years later. This quotation illustrates the statements of White that caused conservatives to dislike him. However, most historians agree that White passed classified information to the Russians. He was accused of being a Communist, but there was never any evidence of that. Some people believe that he was a spy for the Russians and committed espionage, but others disagree observing that White was very much his own man and felt that much information that was classified never should have been. White substituted his own judgment, it is believed, about what could be given to the Russians. He was an admirer of what Russian socialism had accomplished economically, educationally and medically since the 1917 revolution deposing the Czar. Russia had been a valuable military ally, which had taken the brunt of both military and civilian casualties in WWII. White’s economics were certainly not Marxist but very much Keynesian. He was subpoenaed by the House Un-American Activities Committee where he was accused of being a Communist which he denied (see {634907}). He died of a heart attack 3 days later.
