Press Service No. 2 - 7
6-24-34

Secretary Morgenthau announced today the Treasury Department is undertaking this summer a number of studies of its activities in preparation for next year's legislative program. Included in these studies is one on Currency and Banking, and another on Taxation and Revenue.

These two studies are being conducted under the direction of Dr. Jacob Viner, Special Assistant to the Secretary. In addition to the regular staff of the Treasury, a small group of men have been brought in for the summer to work on these studies in the Treasury, and experts outside the Treasury are being requested to submit memoranda on special points.

The Currency and Banking Study Group is surveying the currency and credit situation in the United States, including the question of monetary standards, the various types of currency, the various types of credit institutions in the country, their inter-relationships and the existing methods of regulation and control thereof, and the relation of credit and currency policy to business stability and maintenance of steady employment.

The Revenue and Taxation Study Group is studying the Federal tax system with special reference to need for administrative revision and simplification, to the distribution of tax burdens, to the relationship between the Federal and state and local revenue systems, and to the possibility of making use of revenue provisions as a business stabilizing device.

Following is a list of persons temporarily employed in the Treasury to assist in these studies:

FINANCIAL and REVENUE SURVEY

         Carl Shoup,
              Assistant Profession of Business Administration
                   Columbia University
                         New York City
   
     Pubs: The Sales Tax in France; (joint author) A report on the 
     Revenue System of Cuba; The Sales Tax in the American States. 
     Editor, Bulletin of National Tax Association.
   
     Roy G. Blakey,
          Professor of Economics,
               University of Minnesota,
                    Minneapolis, Minnesota.
   
     Pubs: Taxation on Minnesota; Taxation of West Virginia; National 
     Tax Association Digest and Index; United States Beet Sugar 
     Industry and the Tariff; Export Trade Policy of the United 
     Kingdom (for the U.S. War Trade Board); member of the Minnesota 
     State Planning Board, Adviser to the Governor (of Minnesota) on 
     Taxation; member of the Trade Department in 1919.
   
     Malcolm Bryan,
          Associate Professor of Economics,
               University of Georgia,
                    Athens, Georgia.
   
     Pubs: Fiscal Position of Georgia; Financial History of Georgia; 
     Editor, Southern Economic Journal.
   
     Reavis Cox,
          Instructor in Business Administration,
               Columbia University,
                    New York City.
   
     Pubs: Competition in the American Tobacco Industry; staff 
     associate, the Sales Tax in the American States; Managing 
     Editor, the American Marketing Journal.
   
     Louis Shere,
          Officer of Instruction in the Extension Department,
               Columbia University,
                    New York City.
   
     Pubs: A Statistical Approach to Certain New York State Tax 
     Problems; staff associate, The Sales Tax in the American States.
   
     Henry F. Walradt,
          Professor of Economics,
               Ohio State University
                     Columbus, Ohio.
   
     Pubs: Joint author (with Prof. Fairchild of Yale) Taxation 
     System In Connecticut; joint author and editor (with Mudgett of 
     Minnesota) of the Report of the War Trade Board; winner of the 
     Sixth Simmons Economics Prize Essay Contest with "Who Ultimately 
     Pay the Taxes?"; Financial History of Connecticut, 1789-1861.
   
     K. M. Williamson,
          Professor of Economics,
               Wesleyan College,
                    Middletown, Connecticut.
   
     Pubs: articles on taxation in scientific journals.
   
     Richard A. Lester,
     
               Princeton University,
                    Princeton, N.J.

MONETARY and BANKING SURVEY

     Lauchlin Currie
          Instructor of Economics,
               Harvard University               
                    Cambridge, Massachusetts.

     also Professor of International Economics at the Fletcher School 
     of Law. Author: The Supply and Control of Money, 1934.
 
     Harry D. White,
          Professor of Economics,
               Lawrence College,
                    Appleton, Wisconsin.
     Author: French International Accounts, 1933.

     Albert G. Hart,
          Instructor in Economics,
               University of Chicago,
                    Chicago, Illinois.

     Benjamin Caplan,
          Candidate for Ph.D.
               University of Chicago,
                    Chicago, Illinois.

     Virginius F. Coe,
          Brookings Institution, Washington, D.C.
     Lecturer in Economics, University of Toronto, Toronto, Canada, 
     next year.

     Edward C. Simmons,
          Brookings Institution, Washington D.C., and 
     Ohio State University, Columbus Ohio, Joint Research 
     Fellow.