Senator Carter GlassSenator Carter Glass, (1858-1946) Newspaper publisher, US Senator (D-VA), author of the Banking Act of 1933, U.S. Secretary of the Treasury under President Woodrow Wilson.

Senator Carter Glass Quote

“Is there any reason why the American people should be taxed to guarantee the debts of banks, any more than they should be taxed to guarantee the debts of other institutions, including the merchants, the industries, and the mills of the country?”

Senator Carter GlassSenator Carter Glass
~ Senator Carter Glass

during Senate debate on the Banking Act of 1933 (Glass-Steagall Act) [source: Rixey Smith and Norman Beasley, Carter Glass: A Biography (1939)]

Ratings and Comments

Al, DC
  • Reply
    Al, DC    8/7/12

    return the Glass-Steagall Act!

    jim k, Austin, Tx

    The American people should not be taxed to guarantee any debts, including General Motors.

    Mike, Norwalk

    As a stand alone statement, ABSOLUTELY ! and the answer to the question is ABSOLUTELY NOT ! ! !


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