Word: bankes
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Dates: during 1930-1939
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...from habit, works as his secretary at the Capitol. They "put by," and their fortune grew. Now they have their 350 acres in Uvalde, including a pecan plantation. In their safe deposit box are said to be mortgages on every church in Uvalde, and stock in many a local bank...
Such folk do not believe in the redistribution of wealth, in Title II of the Banking Bill (government-controlled central bank), in AAA crop restriction. Hence John Nance Garner is much closer in economic views to Carter Glass than to Franklin Roosevelt. In fact, when Garner was in the House he favored budget balancing and government economy. Nearest he got to New Deal financial views was when as Speaker he went on record for a public works program of a billion or two-and for that the Republicans booed him loudly (TIME, June...
Last autumn the Louisville Joint Stock Land Bank was stayed from foreclosing a $9,000 mortgage on William W. Radford's 170-acre Kentucky farm by a brand-new device for scaling down farm debts and forestalling foreclosures-the Frazier-Lemke Act, a non-Administration measure filibustered to passage by Senator Huey P. Long in the last days of the 73rd Congress. That law permitted a farmer to declare himself bankrupt and keep his farm by having its current value appraised, then paying this sum to his creditors within five years. Farmer Radford got his debt scaled down...
Within the past six weeks more than three billion francs in gold have left the underground bombproof vaults of the Bank of France for foreign countries, chiefly the U. S. If it could be stopped, there was no immediate worry because the bank still has about 80% gold coverage for its sight engagements. But could it be stopped? With exports limp and the franc dropping on foreign exchange, the Bank of France was last week forced to the extraordinary action of raising the discount rate twice within three days, first from 2.5% to 3%, then...
With his broken arm still in a cast, hulking Premier Flandin held daily bedside conferences with elderly, crop-headed Finance Minister Louis Germain-Martin and Governor Jean Tannery of the Bank of France. In 1926 white-chinned old Raymond Poincaré had been able to halt a similar crisis by increasing taxes, by floating a heavy loan on the Government tobacco monopoly. But in national prestige Premier Flandin was no Poincar...