Word: billion
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Dates: during 1920-1929
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Briefly, the Treasury was instructed to transfer $90,000,000† to the Banco d'ltalia, on the basis of which two and a half billion paper lire will be retired from the six and a half billion now circulating. Similar deflation will be continued, year by year, as an annual budgetary expense. Meanwhile the Banco d' Italia will be given special supervisory powers over all other Italian banks to compel them to accumulate a surplus equal to 40% of their capitalization...
...whether or not the country desires "continuance of an unprecedented national prosperity produced by the present Republican majority under the leadership of President Coolidge." How has this prosperity been attained? By- 1) The limitation of arms in the Washington Conference so that tax payers are saved five billion dollars which would otherwise have been spent on the country's naval building program. 2) "A protective tariff sufficiently high to cover the difference between the cost of living here and abroad, 12 per cent lower than the Payne-Aldrich rates, 20 per cent below the Dingley rates and with...
...because the German settles down in any workable industrial harness and tugs mightfully is the Dawes Plan practicable. Today there hangs eminent over Germany a new super-Dawes work harness. Already there is a whispered possibility that Germany may not be able to meet in full the stupendous two billion gold mark Dawes payment to the U. S. due in 1927-28. What then? Assumedly the dismaying possibility of partial default may be staved off by U. S. loans to Germany with which German reparations can be paid -at the cost of envassaling German industry...
...Congress awoke to the need of air defense, appropriated nearly a quarter of a billion dollars for Army and Navy programs; President Coolidge appointed F. Trubee Davison and Edward P. Warner...
Having gotten through eleven billion francs of new taxation by a Chamber vote of 324 to 110 (TIME, August 9) which the Senate confirmed last week, 250 to 13, M. Poincaré seized his opportunity to ride roughshod, informed the Deputies that they must now pass without amendments two more heroic measures of fiscal reform...