Word: bankes
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Dates: during 1930-1939
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...banking bill is an interesting bit of legislation. The question of a central bank has for the past few years held many promises for some, while it has caused some of the most voluble and noisy criticism from others. One thing is certain: the problem is not simply one for the economist. The chief problem for the political scientist is how to insure the honesty, ability, and, above all, the impartiality of the members of the central board, which board will constitute an independent group responsible only to the President...
...about the necessity for compensatory action on the part of an administration: when the people spend recklessly, the state must save; when the people become too thrifty, then the state must spend. As Mr. Lippmann stated in last Saturday's article, "the very essence of a tree central bank is that it must act contrary to the prevailing mood in politics and finance." What Mr. Lippmann failed to do in his lectures, it seems to me, was to offer a method for securing and insuring this compensatory action. True, he mentioned that the problem rested with an efficient, effective...
Joseph H. Beale '82, Royall Professor of Law, has a featured article this month entitled "Two Cases on Jurisdiction." This consists of notes on the decisions of the National Labor Board, and on the question of branch, group, and chain banking. The Labor Board, he says, will probably be continued by means of revision or even a constitutional amendment, should the NRA be declared unconstitutional. In regard to the banking situation, he reviews the almost universal legislation against branch banking, and contends that the bank panic of 1933 proved the advisability of the branch system...
Furthermore, Secretary Morgenthau's baby bonds are not transferable. They may be turned in to the Treasury for redemption after six months but not sold because Mr. Morgenthau does not want them to seep into bank portfolios. But just why a thrifty citizen should be expected to gobble up an unmarketable, low-yield, non-coupon bond while savings banks are solvent remained a profound Morgenthau mystery...
...London, Strauss & Co.'s second largest stockholder collapsed in a sweat, was hospitalized with a nervous breakdown. Trading on the hoary old Baltic Mercantile & Shipping Exchange, biggest grain market in Europe, virtually halted while the managers posted a notice cancelling Strauss & Co.'s trading privileges. In Bombay, Bank of India and five other Indian banks started proceedings to collect the money which Manager Whitehouse had been ordered to stop paying. That day it was announced that Strauss & Co. had failed with losses estimated at ?1,000,000. A receiver was hastily appointed to take charge...