It is said that Eleanor Roosevelt, wife of F.D.R, told people that Morgenthau was one of only two men who could tell Roosevelt that he was wrong and get away with it.
In May 1939 the most devastating depression was not getting better, in some ways it was getting worse. In April 1939 unemployment had passed the 20 percent mark. Morgenthau was an expert on finance in the 1930’s. President Roosevelt’s new deal policy had to go through Morgenthau to get a hearing.
Morgenthau with all his power felt helpless. He’s confession to his fellow democrats on the house, ways and means committee Morgenthau said, “we have tried spending money, we are spending more that we have ever spent and it does not work. I have just one interest and if I am wrong someone else can have my job.
I want to see people be able to get a job. To see people having plenty to last. We have never made good on our promises.” After eights years of this administration we have just as much unemployment as when we started and an enormous debt to boot.
Bob Jones
