Word: aaas
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...policy is succeeding. The figures prove it." The figures he produced indicated a net deficit for fiscal 1937 of only $518,000,000, exclusive of work-relief expenditures. They promised rising revenues, falling expenditures, dwindling deficits. While his budget message was being read, the Supreme Court handed down its AAA decision depriving the Government of $547,000,000 annually in processing taxes. Within three weeks Congress authorized a Bonus expenditure of $2,250,000,000 over his unemphatic veto. Franklin Roosevelt therefore faced the probability of a Federal deficit exceeding any other of Depression...
...Bankhead Act, 2) the Kerr-Smith Tobacco Act, 3) the Potato-Control Act, which Washington has assumed would be found unconstitutional as soon as the Supreme Court got around to them. The President's reason for repeal: They are now useless having been "auxiliary" to the late AAA...
Assuming that all the 75,000,000 adult inhabitants of the U. S. could be induced to buy admission to a birthday ball, tickets would have to be priced at $10 a head to raise the $550,000,000 required to pay for the New Deal's AAA substitute and the $200,000,000 in processing taxes ordered refunded by the Supreme Court. To raise the $2,250,000,000 required to pay the Bonus, there would have to be another birthday ball with tickets at $30 a head. The gentlemen in the President's office had, however...
Sirs: A blossom to TIME'S copywriters (Jan. 13, p. 13) for their crisp, 75-word, four-sentence summary of illegal and defunct AAA-so simple even a Democrat should understand. VIOLET G. OWENS St. Louis...
Apparently underlying last week's vague uneasiness were two things: 1) Re-emergence of the Administration's policy as the dominant business news. Agitated were businessmen by the Bonus, the Budget, AAA substitutes, recent flutters in the dollar; the new mysteries of silver, which declined last week to 44¼? per oz., approximately the price when Silver Purchase Act was signed in 1934; Secretary of the Treasury Morgenthau's estimated need for $11,000,000,000 in new and refunding money in the next 17 months; the resignation of T. Jefferson Coolidge as Undersecretary of the Treasury...