Orrin Hatch: “Over time, many Utahns have been honored for their contributions to our country, and perhaps no one contributed more to…”

“Over time, many Utahns have been honored for their contributions to our country, and perhaps no one contributed more to our Nation's economic success at such a critical time than Marriner S. Eccles. I am honored to stand with the Eccles family this week as the Federal Reserve unveils a statue of Marriner Eccles in the atrium of the Marriner S. Eccles Building of the Federal Reserve Board in Washington, DC. Marriner Stoddard Eccles was born in Logan, UT, on September 9, 1890, the oldest of nine children. Following the death of his father, who had become a leading industrialist with numerous enterprises, Marriner, at the young age of 22, took over the leadership of his father's businesses that were left to his mother, Ellen Eccles, and Marriner and his siblings. Previously, Marriner had worked in several of his father's businesses, had served a mission for the Church of Jesus Christ of Latter Day Saints, LDS, in Scotland and had attended Brigham Young College in Logan. A superb business analyst and bold administrator, he reorganized and consolidated his father's industrial conglomerate and banking network. Eccles, along with his brother George, joined with the Browning family in Ogden, UT, to form the Eccles-Browning Affiliated Banks, believed to be the first multibank holding company in the United States. With the onset of the Great Depression of the 1930s, banks around the country faced customers rushing to withdraw their deposits.…”