DEMOCRACY AND FINANCE by William O. Douglas

DEMOCRACY AND FINANCE

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KIRKUS REVIEW

James Allen has done a skilful job of selection and editing these addresses and public statements of William O. Douglas, now of the Supreme Court, recently of the Securities and Exchange Commission. His written and spoken words reflect his own policies and beliefs:- he discusses the curse of bigness in this country, the laxness of laws, the modern trend towards regional development to offset this. He emphasizes again and again the importance of protection of public interest, protection of investors. He shows the need for reorganization that underlay the establishment of the S.E.C. and the way in which it functions. He defines ""the best government"" as that ""which reaches its stated objective with the least possible interference with business and finance"". He explains the S.E.C. job as ""Not an autopsy but reconstruction"". He discusses holding companies and the need for supervision and control. He goes into the matters of municipal debt readjustment. He winds up by saying: ""...the administrative agency is the mechanism of democratic government whereby capitalism can discipline and preserve itself. It is equipped to meet business on business terms. It is in its infancy but it is here to stay. And its future development will in large part be molded by business."" A book that has much meat for thoughtful discussion, by students of current problems.

Publisher: Yale