New Executive Power Asked in Money Crises: New Powers Sought for President
A group of distinguished private citizens, most of them from business, have proposed strengthening the PresidentÛªs hand to fight slumps and inflation.</br></br>The recommendation for increased executive power and responsibility is the central theme of the long-awaited report from the Commission on Money and Credit.</br></br>In what has been billed as the most comprehensive survey of the Nation's monetary system in 50 years, the report breaks little new ground. Most of its proposals comprise the conventional wisdom of the</br></br>What is significant is I lie remarkable degree of agreement on the part of notable business and financial leaders that tile economy cannot he left exclusively to private decision-making and further, that the Federal Government must exercise greater sway over the economyÛªs course.</br></br>Chairman of the Commission, which spent three years to produce the 300-page report, was Krn/.ar B. Wilde, chairman of the Connecticut General Life Insurance Co. Other See MONEY, Afi, Col. 4 prominent business members on the 27-man body were: James B. Black, chairman of Pacific Gas & Electric Co.; Fred Lazerus Jr., chairman-of Federated Department Stores Inc.; David Rockefeller, president of the Chase Manhattan Bank; Theodore O. Yntema, chairman of the Ford Motor Co. finance committee and Jesse W. Tapp, chairman of the Bank of America.