And the Senate failed to end a partisan standoff over another antispeculation
In accordance with the antispeculation
dogma, the Fed Board in early 1929, under Miller's guidance, unleashed an evangelical crusade against stock-market speculation.
measures such as limiting residential land ownership and regulating apartment sale prices were implemented; however, these policies were not compatible with the government's effort to induce investment to counteract the Asian financial crisis.
campaign could not squelch its appeal; it had sunk too deeply into the emotional aura surrounding land settlement in the West.
For instance, the sentiments expressed against the Bass Brothers' transaction in southern California, discussed above,(383) were couched in antispeculation
and antimonopoly terms.