The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
1. ncomparabìe freme o f the Golden Gate, My impressions at th is return are mixed, I [see around me one o f the great c i t i e s of the world, a metropolis without peer, a hive of commerce and ¡industry that stands as a monument to the in it ia t iv e , (the ab ility , and the v isio n o f you men and your fo re¡beers. Change certain ly has occurred - growth and development beyond the w ildest dreams o f those o f us ¡who knew and liv ed in the San Francisco o f the la te 80s. But I am delighted to find that the march of material progress has in no way altered the inim itable atmosphere o f th is c ity . The love of l i f e , of beauty, and of adventure; the a b ility to give pleasure end to be pleased even by in sig n ific a n t th ings; pride in the bounteous g i f t s o f nature that enrich th is area; pride 2. in the cosmopolitan population o f your c ity and tolerance of the r a c ia l and id eo lo gical d ifferen ces ¡that cosmopolitanism involves - these are the essen tials of what I remember as the s p i r it o f San ¡Francisco, the things that I had hoped s t i l l to find here and that I do now fin d in a measure more ric h than ever before. One o f the happiest periods o f my l i f e has been these past fiv e years as a D irector o f the Federal Deposit Insurance Corporation. I take great pride in having been p rivileged to help in the development of that Corporation from i t s hurried and ¡unprecedented beginnings to i t s present sta tu s as a firmly established, smoothly running agency o f 3. veriasiónt sud o í "tti© b&nkß • 4« Lyond measure the prospects fo r s t a b ilit y o f our (financial stru ctu re. The Board o f D irectors o f the Corporation jhas consistently adhered to two p rin cip les which X [believe to have been indispensable to what success (we have achieved. In determining questions of policy jit is our establish ed p ractice to s o l i c i t and to give [great weight to the opinions o f representative bankers from a ll sections of the country. Much of the con tusion and misguided decision s that can be a by-product of bureaucracy thus have fortunately been avoided in our case. Secondly, the Corporation has always adhered to a policy o f f u l l and complete frankness in the presentation o f i t s p o lic ie s , i t s operations, end i t s 6. We recognize piat the public confidence so necessary to fu lfillm en t If our resp o n sib ility w ill e x ist only so long as llepositors are certain that they are obtaining a l l ertinent fa c ts . Beyond these few random remarks I sh a ll ot hold you. I r e ite r a te my deep appreciation of jthis opportunity to meet with you. I extend to each bf you my h eartiest wishes fo r w ell-being and su ccess*
