ABSTRACT
With collectivism in retreat, Roosevelt sent to Congress a number of bills in 1935 that could have been influenced by Coyle's recommendations, and the president sounded two notes dear to Coyle in his annual message for Congress, calling for better use of national resources and for enactment of social security. Coyle greeted Roosevelt's proposal for social security legislation enthusiastically, since he had advocated it for some time as a key element in his program for reform of the economy. The 1935 session of Congress passed a number of bills consistent with Coyle's recommendations. Equally close to the Coyle philosophy was the Eccles Banking Bill, introduced in the same session, which was designed to give the president direct control over the entire Federal Reserve System. The most important contribution of the New Deal before 1936 was the taxation of corporations in proportion to their size, when the differential can be made severe enough, there will be results.
