Marriner Stoddard Eccles
on Cold War
Economic Policies

As FDR’s Federal Reserve chairman between 1934 and 1948, Marriner Stoddard Eccles (1890 – 1977) put into play numerous policies that permitted the Federal Reserve to be sublimated to the interests of the Treasury; as a result, he is largely remembered as the patron saint of deficit spending. Upon leaving that position during the Truman administration he went on the lecture circuit where he repeatedly condemned both the post-war economic policy as well as the Cold War policies of the State Department. The attached article summarizes a talk he gave at the University of Maryland in February of 1950:

“We do not have the economic strength to hold Russia within a certain area and cannot provide military and economic aid to all those countries outside of [the] U.S.S.R… Today the U.N. is only a myth. Every place we look, we see the shadow of the Kremlin”.

Additional magazine and newspaper articles about the Cold War may be read on this page.

In 1958, Fidel Castro wrote an article for an American magazine in which he thoroughly lied about his intentions; click here to read it.
Click here to read a Cold War editorial by Supreme Court Justice William O. Douglas.