Word: bankes
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Dates: during 1930-1939
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...directly or indirectly spent by the government and put into active circulation through public works, relief, or the R. F. C. And the process of issuing bonds is more than a gathering together of idle deposits in the hands of timid investors. It is the creation of new bank deposits backed by the bonds themselves; bank-deposits which are exactly as effective for government expenditure as an issue of flat money...
...particular blast of Dr. Sprague is likely to be the signal for serious battle, which he promises to begin with a series of syndicated articles on good and bad monetary policies. Carrying the prestige of the "brain trust" to the Roosevelt public opinion and that of the Bank of England to American industrialists and bankers, his opposition will undoubtedly be of prime importance in undermining the President's general support. This, in the opinion of Castor and myself, is indeed a great misfortune. The story is told that at a banquet in London, where Dr. Sprague waxed conservatively eloquent over...
...Roosevelt felt last April that he was outmaneuvering the British it taking Dr. Sprague from his $25,000 post as adviser to the Bank of England his salary at Washington being $6,000. At their second and third meetings, fellow economists say, the President and Professor Sprague found themselves diametrically opposed. The stabilization plan formulated by Governor Harrison of the New York Federal Reserve and Dr. Sprague was later repudiated sharply by the President during the London Economic Conference...
...fortune in utility promotion, G. T. E. swelled from a small concern with a promising film projector into an overripe holding company controlling among other things Fox Film Corp. Its decline & fall pulled down the old stock exchange houses of Pynchon & Co. and West & Co. and cost Chase Bank more millions than Mr. Wiggin cares to remember...
Mellon & Eagles. After Jesse Jones high-pressured a big Chicago and a big Manhattan bank into winning their double blue eagles by selling capital notes and preferred stock to the R. F. C., he hoped he would have plain sailing with the rest of the U. S. banks which had no need for more capital (TIME, Oct. 23 ). But though he has sold his idea to bank officials throughout the land, he has learned that stockholders are not yet enthusiastic. And last week Mr. Jones met the first flat refusal from a clearing house association. The Pittsburgh Clearing House held...