Nationalize banks, cutting urges: says FDR passed by a big chance.

• Position: THE 1930S FLASHBACK - Senator Bronson Cutting and President Franklin Delano Roosevelt - Brief article

April 7, 1934

Senator Bronson Cutting, New Mexico Progressive, thinks that President Roosevelt's great mistake was that he did not nationalize the banks of this country on his first day in office. At that time, Roosevelt had the popular backing needed to put it over.

"Private banking in this country is doomed by the New Deal," Senator Cutting declared. "Control of credit is a government power that...