Description:

(1882 - 1945) Thirty-second President of the United States who instituted the "New Deal" programs and who led the United States through most of World War II. Good content typed D.S. "FDR" as President on White House letterhead, 1p. 8vo., Washington, Dec. 10, 1938 to his friend and adviser, BASIL O’CONNOR. In part: "...I have always been greatly in favor of the Morris Plan because the more we can extend credit on personal character instead of mortgaging chattel the better it is for the average individual of limited means...suggest that Mr. Morris see Chairman [of the Federal Reserve Marriner] Eccles and possibly the Secretary of the Treasury [Henry Morgenthau, Jr.], and I would be glad to arrange for this..." Nicely matted and set into a gilt wood frame. The Morris Plan banks established installment credit for customers. Lending required the borrower to provide references and proof of earnings to establish the borrower's credit worthiness, and banks gave depositors interest to secure funds for the loans.

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February 19, 2019 10:00 AM EST
Elkton, MD, US

Alexander Historical Auctions LLC

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