Top Quotes & Sayings by Marriner Stoddard Eccles

Explore popular quotes and sayings by an American banker Marriner Stoddard Eccles.
Last updated on November 10, 2024.
Marriner Stoddard Eccles

Marriner Stoddard Eccles was an American economist and banker who served as the 7th chair of the Federal Reserve from 1934 to 1948. After his term as chairman, Eccles continued to serve as a member of the Federal Reserve Board of Governors until 1951.

As mass production has to be accompanied by mass consumption, mass consumption, in turn, implies a distribution of wealth ... to provide men with buying power. ... Instead of achieving that kind of distribution, a giant suction pump had by 1929-30 drawn into a few hands an increasing portion of currently produced wealth. ... The other fellows could stay in the game only by borrowing. When their credit ran out, the game stopped.
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