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Word: bill (lookup in dictionary) (lookup stats)
Dates: during 1920-1929
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Purpose: Economy, easier handling, prevention of counterfeiting. The Treasury's annual savings: $552,520 on paper, $120,000 on ink, $1,000,000 on labor. Average span of life of old-sized bill: eight months. The Treasury's expectation for the new bill: twelve months or more. Cost of producing each bill 7/10?. Time of production: 30 days. The first set of new bills went to Secretary Mellon. To the Clerk of the House of Representatives were sent 435 new $1 bills, one for each Congressman (in exchange...

Author: /time Magazine | Title: National Affairs: New Money | 7/15/1929 | See Source »

Many an old-sized bill will be saved as a souvenir. Many an old-sized bill has been lost or inadvertently destroyed. From past experience, Treasury officials informally estimate that the U. S. will "profit" by some $100,000,000 on the exchange...

Author: /time Magazine | Title: National Affairs: New Money | 7/15/1929 | See Source »

Tariff revision was perceptibly braked last week in the Senate Finance Committee. Republican revisionists on the committee seemed suddenly to have lost their ardor for "embargo duties." President Hoover was given "assurances" that the Senate's tariff bill would be held within the bounds of his desires. For this change in tariff tempo were four explanations...

Author: /time Magazine | Title: THE TARIFF: Gestures | 7/15/1929 | See Source »

Sugar. Senator Smoot accepted a sliding scale tariff for this most controversial item in the bill. Because his State, Utah, is a great producer of beet sugar; because the Mormon church, his church, is vitally interested in beet sugar, the sugar schedule was to have been Senator Smoot's well-protected pet. That he favored a sliding scale which he admitted would produce rates lower than those proposed in the House bill (3? per lb.), made even his Democratic opponents gasp in astonishment. They accepted his plan as another indication of the receding high-tariff tide. When pressed...

Author: /time Magazine | Title: THE TARIFF: Gestures | 7/15/1929 | See Source »

...their relative skill in casting carillons. The issue cropped up hotly before the Senate Committee last week in connection with the carillon purchased in England by John D. Rockefeller Jr. for Manhattan's Park Avenue Baptist Church. The present duty on carillons is 40%. The House bill cut this duty to 20%. William R. Conklin, Rockefeller counsel, urged the elimination of all duty, asserted that the U. S. has no good carillon makers. William R. Meneely of Troy, N. Y., whose ancestors made bells in Revolutionary times, retorted that his firm casts first-rate bells, that Mr. Rockefeller alone...

Author: /time Magazine | Title: THE TARIFF: Gestures | 7/15/1929 | See Source »

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