The Denver Jewish news., 1922-01-18

loT VI Two
years. during more than half of
which time you have been the
active executive officer of that body
in the capacity of Managing Direc-
tor. l have known, particularly
from the Secretaries of the Treas
ury. with whom you have been as
sOciated, of your readiness ever to
place your talents and time at the
disposal of the Government in the
solution Of many pcrplexing prob
lens that have confronted the ma
tion during the past three crowded
years. The War Finance Corpora
lion, with no precedents to guide ii,
has efficiently and successfully full
filled the important mission for
which it was created, and credit
for the results achieved is attribut-
able in no small degree, to your ef-
feciive leadership and signal serv-
i've l can not permit the occasion
of your resignation to pass without
expressing my deep appreciation of
the notable and loyal service you
have rendered to your country with
the single aim of performing the
duties of patriotic American"
In the fall of 1920. Mr. Meyer took
issue with Secretary of the Treasury,
Mr.. Houston. on the advisability and
propricty of having the War Finance
Corporation resume operations for the
purpose of assisting in facilitating the
movement of our commodities to for
eign countries. The work of the Cor
poration had been suspended upon the
request of Secretary Houston in May,
1920.
The matter was debated before the
Congressional Committee, Secretary
Houston opposing the proposed resump-
ton on the ground that thou who
would otherwise seek means of f.
nancing from ordinary financial chan'
nels. for future operations, would prob
ably come to the Government to seek
assistance
Mr.. Meyers testimony before the
Committee stated, You must remem-
her. gentlemen. that our bankers until
lately have not been international
bankers in any large way. They have
been national bankers. They have had
little experience abroad, up to the time
of the war on foreign trade had been
financed by Europe. Now this great
burden is thrown upon us. If it is to
be done, it is to be done by us or not at
all. Yet we have not the trained per-
sonnel that England and Germany and
Holland and France, to some extent.
have developed in the course of genera
tion. We are developing those men,
and developing them fast. The force
of circumstance is developing them, but
this Corpora tion was considered q great
help and gave them assurances to go
ahead"
The subject had been matter OF
public discussion through
out the country. The Senate Commit
tee on Reconstruction and Production.
of which Senator william NJ. Calder
was chairman. investigated the subject
on n tour through the country. The
Joint Agricultural Committee of the
House and Senate conducted extended
hearings on the subject, at which the
Secretary of the Treasury and Mr..
Meyer testified Mt length. The Bank
nf tho
House conducted further hearings. md
after the resolution directing resump-
tion had been vetoed by the President,
il WAS passed, over the veto by the un-
large vote of 53 to in the
Senate and $50 to SO in the House Not
only did the representatives of the
South and West support Mr.. Meyers
stand but the representatives of Agri-
cultural, Industrial, Commercial and
Financial interests were also in favor
of the resumption of the War Finance
president Harding nominated Mr..
Meyer as director of the Corporation
in March, 1921. his nomination was i'm
confirmed by the Senate. and
he was again elected Managing Direc-
tor Although Mr.. Meyers public ac-
tivity dates only with the beginning of
the War his interest in public affairs
was shown many years ago when he
created fund at Yale University
known as the Public Service Fund.
This fund now amounts to about $780,
600. and the entire income is devoted
to the purpose of training for Public
Service.
NJ 1fo,-,,, Il, :, r;o,,;.t onI xroc n