Word: accountants
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Dates: during 1930-1939
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...deposits up to ten times that surplus. Bankers do not have to wait for deposits; they can create them so long as they have "excess reserves." The deposits are created by making loans. Thus, for example, if a bank lends a businessman $10,000, it merely credits his checking account with $10,000. This increases the bank's deposits (i. e. liabilities) by $10,000, and its assets are equally increased by the businessman's note. Writing checks on the new $10,000 account does not destroy the credit that has been created, for the people who receive...
...pleasant things, and to forget or gloss over the more horrible aspects of war. Further developing this psychological thesis, he said that when attempting to outlaw war, attractions such as escape from domestic and financial difficulties at home, and the breakdown of social conventions should be taken into account...
...memberships. "New York," he explained, "is my legal and voting residence, and has been for over 36 years. I simply cannot afford to be a resident of California as well as New York. . . . Perhaps I am honored by special attention in the taxation program of the Federal Government on account of my political attitude, but I do not think so. I believe the Government should be given due credit for robbing everybody with the utmost impartiality. . . . The methods of the tax collector are largely those of the gangster and gunman. You cannot argue with the tax collector any more than...
...stock options and commissions dependent upon sales increases (TIME, April 15). Said Federal Judge Arthur J. Tuttle of Detroit in voiding these contracts: "Andrews' conduct was so bad that it seriously seems necessary to attribute all his conduct to an unbalanced mind and a dishonest mind. I cannot account for his conduct on the basis of one of those attributes alone. Acts of Andrews . . . had to do almost entirely with getting money out of the corporation...
...daughter of a wealty Russian art collectorwho settled in Paris nea the end of the 19th Century. Time Past begins with a memory of the great catastrophe at the coronation of Tsar Nicholas II, when thousands of the common people were trampled to death, includes a brief account of Marie Scheikévitch's marriage and divorce, but is memorable for its portraits of celebrities, particularly that of Marcel Proust. Marie Scheikévitch knew Sarah Bernhardt, Anatole France, was on intimate terms with Jules Lemaître and other are eminant, but her friendship with Proust was particularly...