Riches v. Hadlock, Bank Com'r.

I am not able to agree to the conclusion reached by the majority. We are dealing here with a new question. It is not the usual case of a receiver's power to borrow money to be expended in expenses of administration. Borrowing money for that purpose is of doubtful expediency in most cases, and so subject to abuse that the courts, although not denying the power, have hedged it about with restrictions and limitations. But here the situation is wholly different. The national government, as a measure of relief to the creditors of suspended banks, through the Reconstruction Finance Corporation,…