Publish Date: Jan. 22, 1934
Cover Story: Texas Titan
How TIME Covered the News: As President Franklin D. Roosevelt implemented a series of economic and public works programs to stimulate the economy during the Great Depression, perhaps the most important figurehead was Jesse H. Jones, the man who was put in charge of the stimulus funds. Jones was the chairman of the Reconstruction Finance Corporation, a government entity with the power to both approve millions in loans and to bail out banks. The funding doled out by the RFC was crucial in enacting many of the New Deal reforms, and it was led by a larger-than-life, kind-hearted Texan.
“And he would be the last to approve titanic descriptions of himself. He masks, or maybe unmasks, his will-to-power with an air of modest deliberation and open-minded reticence. He listens carefully to the reasoning and suggestions of his colleagues, especially Colleagues Couch and politically important onetime Senator Elaine. He humbly accepted and executed the gold-buying program of his President’s Professor Warren.”
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