Adlai Stevenson II Quotes
There was a time when a fool and his money were soon parted, but now it happens to everybody.
Stevenson, Adlai E. The Papers of Adlai E. Stevenson, edited by Walter Johnson, vol. 4, Little, Brown, 1974.
The military had made a mess of the Argentine economy and inflation was rampant. Some Argentines turned their Argentine pesos into dollars betting that the Argentine economic situation would get worse, This run from the peso would make it worse. If Argentina stabilized the peso, speculators in dollars would lose money. The Minister trying to discourage a run from the peso, warned Argentinians against the dollar investment. A days later the dollar went up over 30%. Those who had listened to the minister lost much of their money, He was soon forced to resign by the military dictators who controlled the government.
Adlai Ewing Stevenson II was an American lawyer, politician, and diplomat. Raised in Bloomington, Illinois, Stevenson was a member of the Democratic Party. He served in numerous positions in the federal government during the 1930s and 1940s, including the Agricultural Adjustment Administration, Federal Alcohol Administration, Department of the Navy, and the State Department. In 1945, he served on the committee that created the United Nations, and he was a member of the initial U.S. delegations to the UN. He was the 31st governor of Illinois from 1949 to 1953, and he won the Democratic Party's nomination for president in the 1952 and 1956 presidential elections.