¹ Similarly, Neil Mitchell and David Vogel argue that corporations employed social responsibility to justify their power, at the beginning of the twentieth century and in the 1960s and 1970s, respectively. Mitchell, Neil, The Generous Corporation: A Political Analysis of Economic Power (New Haven, Conn., 1989)Google Scholar; Vogel, David, The Market for Virtue: The Potential and Limits of Corporate Social Responsibility (Washington, D.C., 2005)Google Scholar.

² Collins, Robert M., More: The Politics of Economic Growth in Postwar America (New York, 2000)Google Scholar; Cohen, Lizabeth, A Consumers’ Republic: The Politics of Mass Consumption in Postwar America (New York, 2003)Google Scholar.

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⁴ Corporate social responsibility literature has traditionally identified the topic as a phenomenon of the 1960s and 1970s. Scholars recently began examining the theme's post–World War II prevalence. See Spector, Bert, “‘Business Responsibilities in a Divided World’: The Cold War Roots of the Corporate Social Responsibility Movement,” Enterprise & Society 9 (June 2008): 314–36Google Scholar; Englander, Ernie and Kaufman, Allen, “The End of Managerial Ideology: From Corporate Social Responsibility to Corporate Social Indifference,” Enterprise & Society 5 (Sept. 2004): 404–11Google Scholar; and Carroll, Archie B., “Corporate Social Responsibility: Evolution of a Definitional Construct,” Business & Society 38 (Sept. 1999): 268–95CrossRefGoogle Scholar. Scholars debate whether the philosophy originated much earlier, during the Gilded Age or even at the nation's founding. See, for example, Mitchell, Generous Corporation; Carroll, Archie B., Lipartito, Kenneth J., Post, James E., Werhane, Patricia, and Goodpaster, Kenneth E., Corporate Responsibility: The American Experience (New York, 2012)Google Scholar; and Heald, Morrell, The Social Responsibilities of Business: Company and Community, 1900–1960 (Cleveland, 1970), 270–80Google Scholar.

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⁷ On postwar business-labor relations, see Fones-Wolf, Elizabeth A., Selling Free Enterprise: The Business Assault on Labor and Liberalism, 1945–60 (Urbana, Ill., 1995)Google Scholar; Jacoby, Sanford, Modern Manors: Welfare Capitalism since the New Deal (Princeton, N.J., 1997)CrossRefGoogle Scholar.

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¹⁰ Berle, Adolfe A., Power without Property: A New Development in American Political Economy (New York, 1959), 90–91 Google Scholar; Carroll et al., Corporate Responsibility, 199–200; Katz, Wilber G., “Responsibility and the Modern Corporation,” Journal of Law and Economics 3 (Oct. 1960): 75–85 Google Scholar; “David E. Lilienthal: The Case for Big Business,” BusinessWeek, 14 Feb. 1953, 75–76; Eells, Richard, The Meaning of the Modern Business: An Introduction to the Philosophy of Large Corporate Enterprise (New York, 1960), 23 CrossRefGoogle Scholar.

¹¹ Clarence Francis, “Responsibilities of Business Leadership to the Public,” Vital Speeches of the Day, 1 July 1948, 563.

¹² Henry Ford II, “Business Ethics in 1961,” Vital Speeches of the Day, 15 May 1961, 454–55; and Ford, Henry II, The Human Environment and Business (New York, 1970), 54 Google Scholar.

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¹⁴ Penney, J. C., View from the Ninth Decade: Jotting from a Merchant's Daybook (New York, 1960)Google Scholar; “Business and Finance: The 1,001 Partners,” Time, 20 June 1949, 80.

¹⁵ Harlow H. Curtice, “Meeting the Challenge Ahead: The Initiative Now Has Passed to Private Industry,” Vital Speeches of the Day, 15 Feb. 1954, 288.

¹⁶ Abrams, Frank W., “Management's Responsibilities in a Complex World,” Harvard Business Review (hereafter HBR) 27 (May 1951): 29–34 Google Scholar; Toynbee, Arnold J., “Thinking Ahead,” HBR 36 (Sept./Oct. 1958): 23, 26, 29–30, 32, 34, 36, 38, 164, 166, 168, 170Google Scholar; Niebuhr, Reinhold, “Goals of Economic Life,” HBR 31 (Mar./Apr. 1953): 115 Google Scholar. Additional examples include Drucker, Peter F., “Big Business and National Purpose,” HBR 40 (Mar./Apr. 1962): 49–59 Google Scholar; Dempsey, Bernard W., “The Roots of Business Responsibility,” HBR 27 (July 1949): 393–404 Google Scholar; Ohmann, O. A., “Search for Managerial Philosophy,” HBR 35 (Sept./Oct. 1957): 41–51 Google Scholar; and Johnson, Harold L., “Can the Businessman Apply Christianity?” HBR 35 (Sept./Oct. 1957): 68–76 Google Scholar.

¹⁷ John Knox Jessup, “A Political Role for the Corporation,” Fortune, Aug. 1952, 112–13.

¹⁸ Drucker, Practice of Management, 382–83.

¹⁹ Canham, Erwin D., New Frontiers for Freedom (New York, 1954)Google Scholar.

²⁰ Bowen, Howard R., Social Responsibilities of the Businessman (New York, 1953), 5 Google Scholar.

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²³ David, Donald K., “Business Responsibilities in an Uncertain World,” HBR, supplement (May 1949): 1–8 Google Scholar; Spector, “Business Responsibilities in a Divided World,” 314–36.

²⁴ Russell Porter, “Stress Social Responsibility as a Factor in American Life,” New York Times, 7 Sept. 1947, F1, 3.

²⁵ Selekman, Moral Philosophy for Management.

²⁶ Bunting, J. Whitney, Ethics for Modern Business Practice (New York, 1953), 34–35 Google Scholar.

²⁷ McGuire, Joseph W., Business and Society (New York, 1963), 144–45Google Scholar.

²⁸ Griffith, Robert, “Dwight D. Eisenhower and the Corporate Commonwealth,” American Historical Review 87 (Feb. 1982): 87–122 Google Scholar; Stebenne, David, Modern Republican: Arthur Larson and the Eisenhower Years (Bloomington, Ind., 2006)Google Scholar.

²⁹ “Text of Nixon's Address Outlining His Views on the Economic Policy,” New York Times, 22 June 1960, 20; Wayne Phillips, “Nixon Declares ‘Middle of Road’ Is Economic Aim,” New York Times, 24 Apr. 1960, 1, 59; Hoff, Joan, Nixon Reconsidered (New York, 1995)Google Scholar.

³⁰ Collins, Business Response to Keynes, 85–96, 129–41; McQuaid, Kim, Uneasy Partners: Big Business in American Politics, 1945–1990 (Baltimore, 1994)Google Scholar.

³¹ William B. Benton, “The Economics of a Free Society,” Fortune, Oct. 1944, 163–64. See also Drucker, Peter, Concept of the Corporation (New York, 1946), 255–59Google Scholar; Arthur B. Van Buskirk, “Responsibilities of American Business Leaders,” Vital Speeches of the Day, 1 Sept. 1959, 690–93; and Worthy, James C., Big Business and Free Men (New York, 1959), 181–87Google Scholar.

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³⁴ Flanders, Ralph E., “Businessmen's Responsibilities to Government,” in The Responsibilities of Business Leadership, ed. Merrill, Harwood F. (Cambridge, Mass., 1949), 38 Google Scholar.

³⁵ Arguing on behalf of conservative leaders who resisted social responsibility were Milton Friedman and Theodore Levitt, editor of the Harvard Business Review. Friedman, Milton, “Social Responsibility: A Subversive Doctrine,” National Review, 24 Aug. 1965, 721–72Google Scholar; Levitt, Theodore, “The Dangers of Social Responsibility,” HBR 37 (May/June 1959): 105–13Google Scholar.

³⁶ Harwood F. Merrill, “Introduction,” in Responsibilities of Business Leadership, vi. See also “Defense against Decline,” BusinessWeek, 27 Mar. 1954, 180; “Is Business Selling Itself?” BusinessWeek, 3 Apr. 1954, 167; Gilbert Burck, “The Jersey Company,” Fortune, Oct. 1951, 99, 184; Jessup, “Political Role for the Corporation,” 112–13; Selekman, Moral Philosophy for Management, chap. 2; Drucker, Practice of Management, 382–83; and Eells, Meaning of the Modern Business, 201–3.

³⁷ Boulware, Lemuel R., The Truth about Boulwarism: Trying to Do Right Voluntarily (Washington, D.C., 1969), 24, 61–62 Google Scholar; Phillips-Fein, Kim, Invisible Hands: The Businessmen's Crusade against the New Deal (New York, 2009), 97–105 Google Scholar.

³⁸ For example, Mason, Edward S., “Introduction,” in The Corporation in Modern Society, ed. Mason, Edward S. (Cambridge, Mass., 1959)Google Scholar.

³⁹ This narrative draws heavily from Chapin, Christy Ford, Ensuring America's Health: The Public Creation of the Corporate Health Care System (New York, 2015)Google Scholar. See also Hacker, Jacob, The Divided Welfare State: The Battle over Public and Private Social Benefits in the United States (New York, 2002)Google Scholar; Klein, Jennifer, For All These Rights: Business, Labor, and the Shaping of America's Public-Private Welfare State (Princeton, N.J., 2003)Google Scholar; and Gordon, Colin, Dead on Arrival: The Politics of Health Care in Twentieth-Century America (Princeton, N.J., 2003)Google Scholar.

⁴⁰ Chapin, Ensuring America's Health, chap. 1; Starr, Paul, The Social Transformation of American Medicine (New York, 1982), 200–18, 290–91Google Scholar; Klein, For All These Rights, 122–25, 130–31, 153–54; Berkowitz, Edward D. and Wolff, Wendy, Group Health Association: A Portrait of a Health Maintenance Organization (Philadelphia, 1988)Google Scholar; Hendricks, Rickey, A Model for National Health Care: The History of Kaiser Permanente (New Brunswick, N.J., 1993)Google Scholar; Krajcinovic, Ivana, From Company Doctors to Managed Care: The United Mine Workers’ Noble Experiment (Ithaca, N.Y., 1997)Google Scholar.

⁴¹ Klein, For All These Rights, 211–12; Hacker, The Divided Welfare State, 212–19; Gordon, Dead on Arrival, 20–21, 54–76. See also Memo to the President, “Medical Reimbursement Insurance,” 14 Feb. 1945, box 34C, RG 4, Equitable Historical Archives, New York (hereafter EHA); and “Keeping Up with the Social Planners,” National Underwriter, 1 Jan. 1943, 10.

⁴² Health Insurance Institute, Source Book of Health Insurance Data (New York, 1965), 11 Google Scholar.

⁴³ Klein, For All These Rights, 242–43; Chapin, Ensuring America's Health, 48–50; Miller, John H., “Basic Principles of Health Insurance,” in A Look at Modern Health Insurance (Washington, D.C., 1954), 49–57 Google Scholar; Faulkner, Edwin J., Health Insurance (New York, 1960), 73 Google Scholar; “Insurance Really Fulfilling Function,” National Underwriter, 8 May 1953, 23, 27; David M. Harris to R. D. Murphy, 27 Oct. 1950, box 42 A, RG 4, EHA.

⁴⁴ “ALC President Comments on New Role of A&H,” National Underwriter, 8 May 1953, 26; Arthur J. Offerman, interview by Odin W. Anderson, 26 Mar. 1971, transcript, Robert M. Cunningham Jr. Papers, private collection, Gaithersburg, Md.; “Terms Catastrophe Only True Insurance in Medical Field,” National Underwriter, 9 Feb. 1951, 17.

⁴⁵ U.S. Federal Security Agency, The National Health, A Ten-Year Program: A Report to the President (Washington, D.C., 1948), 7 Google Scholar; Margaret McKiever to Margaret C. Klem, “Statements on Voluntary Health Insurance Made at Hearings on S. 1606,” 31 May 1946, General Correspondence, 1946–50, Records of the Social Security Administration (hereafter SSA), box 3, National Archives at College Park, Md. (hereafter NARA); I. S. Falk, “‘Old-Age and Survivors Hospitalization Insurance,’ The Need for the Program,” 25 June 1951, Commissioner's Correspondence, 1936–1969, SSA, box 38, NARA.

⁴⁶ Jerry Voorhis, “Money Spent Unwisely,” Committee for the Nation's Health Information Letter (Mar. 1955), reel 1, microfilm, Michael Davis Papers, NARA.

⁴⁷ Hacker, Divided Welfare State, 225–31; Gordon, Dead on Arrival, 60–76; “Hipp Calls Experimentation Spirit Greatest Bulwark against Socialism,” Eastern Underwriter, 16 Feb. 1951, 36; “Medical Insurance, Latest A&H Coverage a Fascinating Subject,” Eastern Underwriter, 5 Jan. 1951, 29; Morton D. Miller, “Group Medical Expense Insurance,” 7 Feb. 1951, box 32 A, RG 4, EHA.

⁴⁸ Lang, Frank, “Insurance Research,” Journal of Marketing 12 (July 1947): 66–71 Google Scholar.

⁴⁹ “Address by Oveta Culp Hobby” (National Association of State Insurance Commissioners Meeting, June 10, 1954), box 7, F. J. L. Blasingame Papers, Truman G. Blocker Jr. History of Medicine Collections, University of Texas Medical Branch, Galveston.

⁵⁰ Chapin, Ensuring America's Health, 50–56.

⁵¹ For example, “Shift to Offensive Will Put Stopper on Government,” National Underwriter, 14 Sept. 1951, 1, 20; “A&H Companies Can't Operate in Vacuum,” National Underwriter, 6 June 1952, 6; E. J. Faulkner, “Presidential Address” (Health Insurance Association of America [hereafter HIAA] Annual Meeting, Washington, D.C., 7 May 1957); V. J. Skutt, “Keynote Address” (HIAA Annual Meeting, Dallas, 16 May 1960); Paul B. Cullen, “No One But You” (HIAA Annual Meeting, Dallas, 17 May 1960).

⁵² Today the HIAA is known as America's Health Insurance Plans or AHIP. HIAA, “Blueprint of a Proposed Industry Program,” Oct. 1956, box 18, Orville Francis Grahame Papers, University of Iowa Special Collections, Iowa City (hereafter OFGP).

⁵³ Orville F. Grahame to Joe S. Lassiter, 9 Nov. 1948, box 3, OFGP.

⁵⁴ Orville F. Grahame, “Capitalism Plus” (Annual Meetings of the Insurance Economics Society of America, 11 Oct. 1955); and Grahame to Abram T. Collier, 31 Oct. 1955; Bradley B. Gilman to Grahame, 31 Oct. 1955; Walter Donald Kring to Grahame, 3 Nov. 1955; Samuel M. Lane to Grahame, 23 Nov. 1955, all in box 29, OFGP.

⁵⁵ Faulkner, E. J., “Meeting Health Care Costs through Insurance,” Journal of Insurance 24 (Sept. 1957): 17, 22Google Scholar.

⁵⁶ “Group Insurance,” Transactions of Society of Actuaries 7 (Jan. 1955): 17 Google Scholar.

⁵⁷ HIAA, “Blueprint of a Program of Research, Education, and Information,” 8 Mar. 1958, box 18, OFGP. Additional examples citing the industry's “social responsibilities” include “Proposal to Establish the Health Insurance Association of America,” Dec. 1955, box 19, OFGP; HIAA, “Code of Ethical Standards,” Jan. 1957, box 19, OFGP; Charles E. Stevens, “Opportunities Unlimited” (HIAA Annual Meeting, 18 Nov. 1959), box 19, OFGP; and Vieser, Milford A., “Panel Discussion,” Transactions of Society of Actuaries 11 (Jan. 1959): 217 Google Scholar.

⁵⁸ Frank O. H. Williams, “Speaking of Images” (HIAA Annual Meeting, 17 Nov. 1959), box 19, OFGP.

⁵⁹ Chapin, Ensuring America's Health, 114–18; Klein, For All These Rights; Health Insurance Institute, Source Book of Health Insurance Data (New York, 1964), 11, 14Google Scholar.

⁶⁰ Because of the high cost of insuring the elderly, this coverage was usually limited to hospital benefits. “The Extent of Insurance Company Coverage for the Medical Expenses of the Senior Citizen,” Dec. 1961, box 22, OFGP.

⁶¹ Morton D. Miller, “The ‘65’ Plans and Their Future,” Insurance Management Review, 13 Apr. 1963, 39, RG 4, Secretary's Department, box 51C, EHA; Associated Connecticut Health Insurance Companies, “The Story of Connecticut 65,” 29 Jan. 1962, box 15, OFGP.

⁶² Klein, For All These Rights, 217–28; Chapin, Ensuring America's Health, 154–60.

⁶³ Russell M. Stobbs to Grahame, 2 Aug. 1961, box 15, OFGP.

⁶⁴ John H. Miller to Travis T. Wallace, 1 Aug. 1958, box 18, OFGP; “Report to Board of Directors,” Feb. 1965, box 25, OFGP.

⁶⁵ Grahame to Benjamin B. Kendrick, 13 June 1961, box 21, OFGP; “Minutes of the Meeting of the ALC-LIAA Joint Committee,” 8 June 1961, box 20, OFGP; “Minutes of the Meeting of the ALC-LIAA Joint Committee,” 16 Feb. 1961, OFGP.

⁶⁶ During the 1950s, commercial banks underwrote between 15 and 22 percent of home mortgages. Reed, Edward W., Commercial Bank Management (New York, 1963), 349 Google Scholar; Weiss, Marc A., “Marketing and Financing Home Ownership: Mortgage Lending and Public Policy in the United States, 1918–1989,” Business and Economic History 18 (1989): 109–18Google Scholar. On the political economy of credit and the shaping of mass consumption, see Hyman, Louis, Debtor Nation: The History of America in Red Ink (Princeton, N.J., 2011)Google Scholar; Cohen, Consumers’ Republic, 121–24, 147–48; Logemann, Jan, “Different Paths to Mass Consumption: Consumer Credit in the United States and West Germany during the 1950s and ’60s,” Journal of Social History 41 (Spring 2008): 525–59Google Scholar.

⁶⁷ Much of the history of government-secured mortgages explores how they promoted and shaped suburbanization while exacerbating urban decline and racial divisions. See, for example, Jackson, Kenneth T., Crabgrass Frontier: The Suburbanization of the United States (New York, 1985)Google Scholar; Sugrue, Thomas J., The Origins of the Urban Crisis: Race and Inequality in Postwar Detroit (Princeton, N.J., 1996)Google Scholar; Kruse, Kevin, White Flight: Atlanta and the Making of Modern Conservatism (Princeton, N.J., 2006)Google Scholar; Cohen, Consumers’ Republic, chap. 5; Lassiter, Matthew, The Silent Majority: Suburban Politics in the Sunbelt South (Princeton, N.J., 2006)Google Scholar; and Freund, David M. P., Colored Property: State Policy and White Racial Politics in Suburban America (Chicago, 2007)Google Scholar.

⁶⁸ For more on this early history of federal intervention in the housing market, including public housing, see von Hoffman, Alexander, “The End of the Dream: The Political Struggle of America's Public Housers,” Journal of Planning History 4 (Aug. 2005): 222–53CrossRefGoogle Scholar; and Radford, Gail, Modern Housing for America: Policy Struggles in the New Deal Era (Chicago, 1996)Google Scholar.

⁶⁹ These terms applied to government-backed loans, which comprised almost 50 percent of the mortgage market by the 1950s. Lenders also began applying them to some conventional or non-government-insured loans. McKinley, Gordon W., “Insured and Guaranteed versus Conventional Mortgages,” Proceedings of the Tenth Annual Conference of the Mortgage Bankers Association of America (New York, 1954), 84 Google Scholar.

⁷⁰ Miles L. Colean, “Federal Mortgage Lending and Insuring Practices,” Savings and Loan News, Feb. 1953, 10–11.

⁷¹ Von Hoffman, “End of the Dream,” 222–53.

⁷² Hill, Phillip H., “Housing: Legislative Proposals,” Law and Contemporary Problems 12 (Winter 1947): 173–85Google Scholar; Alexander von Hoffman, “Enter the Housing Industry, Stage Right” (working paper W08-1, Joint Center for Housing Studies, Harvard University, Feb. 2008), 1–47; Davies, Richard O., Housing Reform during the Truman Administration (Columbia, Mo., 1966), chap. 3Google Scholar.

⁷³ Quoted in Davies, Housing Reform, 104.

⁷⁴ Davies, Housing Reform, 112–23; Von Hoffman, “Enter the Housing Industry,” 11–13.

⁷⁵ Stafford, Lawrence, “Many Bank Matters Come Up in Late Session,” Banking News 42 (Sept. 1949): 38–39 Google Scholar; Marcus, William A., “Creeping Bureaucracies in Home Loans,” Banking News 43 (Aug. 1950): 45–46, 130Google Scholar.

⁷⁶ “Reliance on Government Credit Guarantees Is Serious,” Banking News 39 (Aug. 1946): 66 Google Scholar; Hearings on S.866, Before the House Comm. on Banking and Currency, 80th Cong. 1073–74 (1948); Paul Mazur, “The Economic Influence of Consumer Credit in Use,” Proceedings of the National Consumer Credit Conference, 2 Apr. 1955, 19–22; von Furstenberg, George M., “The Investment Quality of Home Mortgages,” Journal of Risk and Insurance 37 (Sept. 1970): 437–45Google Scholar.

⁷⁷ Davies, Housing Reform, 104–105; Doan, Mason C., American Housing Production, 1880–2000 (Lanham, Md., 1997), 56–57 Google Scholar. Taft distanced himself from the original Wagner-Taft-Ellender bill once President Truman endorsed it as central to his “Fair Deal” policies. Nevertheless, Taft helped guide compromise legislation through the Senate.

⁷⁸ Government-insured mortgages were a great investment for commercial bankers during periods of expansionary monetary policy, for example, in 1946. However, the Federal Reserve tightened the money supply several times during the 1950s. Michael W. Keran, “Naturalization of the Money Stock,” Federal Reserve Bank of St. Louis Review, May 1970, 15–18; Collins, More, 42–45; Doti, Lynne Pierson and Schweikart, Larry, “Financing the Postwar Housing Boom in Phoenix and Los Angeles, 1945–1960,” Pacific Historical Review 58 (May 1989): 187–88Google Scholar; Haar, Charles M., Federal Credit and Private Housing: The Mass Financing Dilemma (New York, 1960), 147–66, 168–69Google Scholar; Conklin, George, “Competition Ahead for Mortgages,” Proceedings of the Ninth Annual Conference of the Mortgage Bankers Association of America (New York, 1954), 106–108 Google Scholar.

⁷⁹ Heller, Sipa, “Secondary Markets for Institutional Mortgage Lenders,” Proceedings of the Sixth Annual Conference of the Mortgage Bankers Association of America (New York, 1952), 46–53 Google Scholar; “Housing,” Banking 51 (Sept. 1958): 90 Google Scholar; “Fundless Fannie Mae Is Still Full of Life,” Washington Post, 27 Sept. 1958, 3.

⁸⁰ For example, Mortgage Bankers Association of America, A Statement of Principles and Recommendations (Washington, D.C., 1953), 2, 5–6 Google Scholar; Rub, Louis, “The Government as Mortgage Buyer,” Proceedings of the Sixth Annual Conference of the Mortgage Bankers Association of America (New York, 1952), 59–65 Google Scholar. The 1954 Housing Act reorganized Fannie Mae as a mixed-ownership corporation. The government owned preferred stock while mortgage lenders purchased common stock based on the value of loans they sold to Fannie Mae. To prevent unsound lending, the ABA lobbied officials to require banks to invest heavily in Fannie Mae. Thereafter Democrats unsuccessfully attempted to reconvert the organization back to a government agency. In 1968, Fannie Mae formally became a private organization.

⁸¹ Von Hoffman, “Enter the Housing Industry,” 33–39; Hunt, Bradford, “How Did Public Housing Survive the 1950s?” Journal of Policy History 17 (Spring 2005): 194 Google Scholar; Advisory Committee on Government Housing Policies and Programs (Washington, D.C., 1953)Google Scholar.

⁸² Flanagan, Richard M., “The Housing Act of 1954: The Sea Change in National Urban Policy,” Urban Affairs Review 33 (Nov. 1997): 265 Google Scholar; Von Hoffman, “Enter the Housing Industry,” 30, 35, 41–42; Freund, Colored Property, 185–86; Stafford, Lawrence, “Washington,” Banking 49 (Oct. 1956): 37–39 Google Scholar; John D. Morris, “Administration Gives Its Support to Coalition's Housing Program,” New York Times, 20 May 1959, 2; “President Vetoes Housing Bill,” Wall Street Journal, 8 July 1959, 4; Richard L. Lyons, “Ike's Housing Veto Is Upheld,” Washington Post, 13 Aug. 1959, A1; “New Housing Act Held Compromise,” New York Times, 27 Sept. 1959, R1.

⁸³ Colean, Miles L., “Toward More Government in Housing,” Banking 46 (Apr. 1954): 49–50, 127Google Scholar; “The ABA Position on Mortgage Credit,” Banking 46 (June 1954): 42 Google Scholar; “Banks Not Public Utilities,” Banking 46 (Apr. 1954): 45–46 Google Scholar.

⁸⁴ “Housing Help Held a Duty of Bankers,” New York Times, 16 Mar. 1949, 41.

⁸⁵ “Industry Itself Holds Key to How Far Government Will Go in Its Controls,” Wall Street Journal, 27 Dec. 1948, 2.

⁸⁶ “Housing Measure Held U.S. Bargain,” New York Times, 5 May 1948, 50.

⁸⁷ “Eisenhower Cites U.S. Housing Duty,” New York Times, 12 May 1953, 29; “Texts of Eisenhower, Baruch, and Moses Talks at Housing Projects,” New York Times, 20 Aug. 1953, 16.

⁸⁸ Jones, Joseph R., “Home Mortgages and the Present Money Market,” Banking 49 (Sept. 1956): 39, 156–58Google Scholar. This figure includes government-secured as well as conventional mortgages.

⁸⁹ Reed, Commercial Bank Management, 351–52, 367; ABA, The Commercial Banking Industry (Englewood Cliffs, N.J., 1962), 220 Google Scholar. Residential loans accounted for 28.5 percent of time deposits in 1960. This decrease demonstrates that although bankers shouldered increased risks to continue supporting the mortgage market, they were willing to go only so far during periods of tight money. See ABA, The Problems of Commercial Bank Liquidity (New York, 1957), 14 Google Scholar.

⁹⁰ For example, “Savings and Mortgage Conference,” Banking News 42 (Apr. 1950): 82–84 Google Scholar; “Consumers Credit Bankers,” Banking News 42 (May 1950): 52–53 Google Scholar; “Financing Is Real Challenge,” Banking 46 (Mar. 1954): 91 Google Scholar; “Serve Credit Needs; Seek New Ways,” Banking 46 (Mar. 1954): 100, 103Google Scholar; “Bankers’ Big Opportunity,” Banking 49 (Feb. 1957): 110 Google Scholar; Reed, Commercial Bank Management, 351–52, 367; “Benefits of Mortgage Lending to Communities and Banks,” Banking 52 (Jan. 1960): 108 Google Scholar; Lewis M. Smith, “The Expanding South,” Proceedings of the Annual National Consumer Credit Conference, 3 Apr. 1955, 90.

⁹¹ For example, J. Howard Edgerton, “Adequate Private Home Credit—Or Government Intervention?” Savings and Loan News, July 1955, 26–30; Green, C. W., “More Goods to More People,” Banking News 39 (Sept. 1946): 138 Google Scholar; Richard O. Wiesner, “The Impact of Consumer Credit in the Community,” Proceedings of the National Consumer Credit Conference, 22 Mar. 1961, 20–28; “Need Seen for Bankers to Watch Credit ‘Danger Signs,’” Banking News 42 (Apr. 1950): 56–58 Google Scholar.

⁹² Jones, “Home Mortgages,” 39. Between 1934 and the 1980s, Regulation Q of the Glass-Steagall Act prohibited commercial banks from paying interest on checking accounts and limited the amount of interest that they could pay on savings accounts.

⁹³ Flexner, Kurt F., “National Mortgage Market Outlook,” Banking 47 (Sept. 1954): 50–51 Google Scholar; Rosenberry, Walter S. Jr., “Major Current Problems,” Banking 47 (Sept. 1954): 50–51 Google Scholar; Klug, Lowell C., “Tapping New Sources of Savings for Mortgages,” Banking 52 (June 1960): 101 Google Scholar; ABA, Commercial Banking Industry, 220, 225; “FHA and VA Mortgage Study,” Banking 52 (Aug. 1959): 102–104 Google Scholar.

⁹⁴ Flexner, Kurt, “New Opportunities in the Mortgage Market,” Banking 52 (Aug. 1959): 43–44, 112Google Scholar; “The Workshop Session,” Proceedings of the Eleventh Annual Conference of the Mortgage Bankers Association of America (New York, 1954), 114–15Google Scholar; “FHA and VA Mortgage Study,” 102–104; Finger, Louis S., “Complete Financial Service,” Banking 52 (Apr. 1960): 43 Google Scholar.

⁹⁵ Nims, Thomas L., “The Voluntary Home Mortgage Credit Program,” Banking 47 (Sept. 1954): 50 Google Scholar; “VHMCP Calling All Banks!” Banking 46 (May 1954): 51–52 Google Scholar; “VHMCP Aids Small Towns,” Banking 48 (May 1956): 148 Google Scholar; “One Year of VHMCP,” Banking 49 (July 1956): 107–108, 122Google Scholar.

⁹⁶ Nims, Thomas L., “New Opportunities in Home Financing,” Banking 47 (Feb. 1955): 43, 144Google Scholar; Lockwood, Rodney, “Are We Reaching the Saturation Point in Housing?” Proceedings of the Tenth Annual Conference of the Mortgage Bankers Association of America (New York, 1954), 18–28 Google Scholar; Rosenberry, “Major Current Problems,” 50–51.

⁹⁷ “Direct Loan Agency Has Busy Quarter,” Washington Post, 13 Dec. 1958, D2; Maurice Foley, “Home Loan Plan Aids Small Towns,” New York Times, 22 Feb. 1959, R1.

⁹⁸ Lockwood, “Saturation Point in Housing,” 18–28; Meyer, Stephen Grant, As Long As They Don't Move Next Door: Segregation and Racial Conflict in American Neighborhoods (Lanham, Md., 2000), 156–58Google Scholar. See also footnote 67.

⁹⁹ Waterhouse, Benjamin, Lobbying America: The Politics of Business from Nixon to NAFTA (Princeton, N.J., 2013)Google Scholar.