Tag Archives: Eccles

Jumping the Abyss: Marriner S. Eccles and the New Deal, 1933-1940

By Mark Nelson

We capitalists have got to decide how much we are going to pay for capitalism.[1]

Marriner S. Eccles: New York Times, May 1935

This is the crowd that wants power rather than recovery- the crowd that for 12 years was in power, that tried the very policies which ended in the greatest smash in our economic history; the crowd that willed this administration a debt of 20 billions and a demoralized, prostrate country; yet they have the sublime audacity to propose that we go back to the very policies which wrecked the country. They have been proved false profits on their own record.[2]

Marriner S. Eccles: memo to FDR, December 1935

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