Word: abroad
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Dates: during 1930-1939
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Significance. The practical issue between the President and Congress last week was out of all proportion to the amount of heat engendered. Under the Gold Reserve Act of 1934, with the approval of the President, the Secretary of the Treasury may purchase gold "in any amounts at home or abroad with any direct obligations, coin or currency of the U. S." The price of gold for all practical purposes determines the exchange value of the dollar. If the Secretary should choose to pay $40 an oz. for gold instead of $35 he would in effect devalue the dollar...
...Paul McNutt's friends were ready with an efficiently stage-managed homecoming celebration. The timing was just about perfect. Now was the season for political bands, bunting, oratory, ballyhoo. Here was a candidate who could stride upon the national stage like a handsome Ulysses returning from labors abroad to hurl fear and respect into the hearts of Democracy's home-hugging suitors. It mattered not that the welcoming party was synthetic, that the Candidate's welcome to Indiana was rather warmer than its welcome to him. Now was beginning one of the earliest, boldest, most determined campaigns...
Isolationists snorted at the proposal that good money be sent abroad after bad. But the President explained that the borrowers were to be good South American neighbors, not wicked European defaulters. The money would all be spent in or for the U. S., opening and reconstructing export markets. Moreover, Jesse Jones would be the watchdog on duty...
...Last fortnight the House received from acting chairman Sol Bloom of the Foreign Affairs Committee, prognathous hero of the reception to King George & Queen Elizabeth, a bill drafted in accordance with Franklin Roosevelt's and Cordell Hull's desire for a free hand in case of war abroad. Under it, embargoes of war material would no longer be mandatory. The President would have broad discretion to regulate U. S. exports, travel by U. S. citizens, dealing in combatants' securities, etc., etc. Passage of the Bloom bill by the House would mean little, even in diluted form...
1.Shell cheap " Travel Dollars" to forign tourists. 2. Barter American manufactures for Brazilian coffee. 3. Dispose of surplus cotton by dumping it abroad. 4. Institute a "Commodity Dollar." 5. Increase tax rates against corporations refusing to cooperate in the social security program...