Abstract
In a recent issue of this Journal, Professor Bach has summarized a study of the relationships among federal banking agencies which he made for the Commission on Organization of the Executive Branch of the Government, commonly called the Hoover Commission.' As Mr. Bach points out, the recommendations in his report differ in part from those of the Commission. In this article I would like to present an analysis of relationships which differs in important respects from that portrayed by Professor Bach, and to offer a proposal for co-ordination of monetary, bank supervisory, and loan agencies which differs both from his recommendation and that of the Hoover Commission, but conforms with the general character of the report of the Commission.2
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