Sprague Appears Today in House Committee Hearing
Other Witnesses Include Fisher, Coughlin, Vanderlip, Warburg
Oliver M. W. Sprague '94, leader of the opposition to the Roosevelt monetary policies, has accepted a summons to appear in Washington today before the House Committee on Coinage, Weights, and Measures. The Business School professor will be the first witness to testify in this week's public hearings on dollar stabilization plans, the silver problem, and other fiscal proposals.
Other witnesses who have agreed to appear in Washington to explain their views include Father Charles E. Coughlin, Irving Fisher, Yale professor and "commodity dollar" advocate, Frank A. Vanderlip, former New York banker and Technocracy enthusiast, and James P. Warburg '17, Manhattan banker.
Dr. Sprague has explained his opinion as follows: "It is conceivable, that an enlargement of the already ample monetary base might in some fashion or another bring about the expansion and more effective distribution of credit and currency, but for myself I confess an entire inability to discover any definite influence that such an increase could exert."