Lauchlin Currie's memoirs Chapter Ⅱ: The New Deal

摘要

The first phase of the New Deal - the hectic days of 1933 - was already past when I arrived in Washington in June of 1934. However, my assignment was reminiscent of those early days. The new men that FDR recruited for his Cabinet were mistrustful of accepted dogmas and theories - of the conventional wisdom. They believed that new times and new conditions required new policies and solutions. No suggested policy could be dismissed on the time-honored formula that it was "impracticable". Maybe the magic solution could be found in something formerly called crazy or impracticable. In line with such ideas, Secretary Morgenthau suggested to Professor Jacob Viner that he assemble the best young brains he could find in the fields of monetary theory, public finance and banking legislation, give them an absolutely free rein and see what they could come up with. One bright suggestion or idea, it was thought, would justify the whole effort. Thus the Freshman Brain Trust of 1934 was born. Perhaps because I had acquired some reputation for heterodoxy and yet had a respectable Harvard background, Professor Viner asked me to take on the monetary assignment. The only other member of the group whom I had known before was Harry White, who was to work on gold and international trade policy. Some other members included Henry Riley, Malcolm Bryan, Frank Coe, Carl Shoup and Roy Blough.