Word: billions
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Dates: during 1930-1939
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...build-up began with Harry Hopkins' own well-dramatized swearing-in as Secretary of Commerce on Christmas Eve. It was continued in Franklin Roosevelt's rousing message to Congress about an 80-billion-dollar country. It was renewed by his remarks about "no new taxes," on the train south last fortnight (TIME, Feb. 27). Last week the build-up was intensified by Secretary Morgenthau, who proposed not only to avoid new taxes but to mitigate those which give businessmen a "what's-the-use" attitude. The Administration's tax man in the House, Chairman Bob Doughton...
...produced 44 billion kilowatt-hours of hydroelectricity in 1938. Potential maximum of all practicable waterpower sites has been estimated around 325 billion kwh. Though completion of the New Deal's dam program will not harness all this, experts foresee a big surplus over municipal and irrigation power needs. They also claim they know how to mop it up-build electrochemical factories near damsites, with hungry electricity-eaters like furnaces to produce calcium carbide (from limestone and coal electrically heated to 4,000° F.), acetylene, alcohol, acetone, fertilizers, insecticides, plastics. One modern, three-electrode calcium carbide furnace requires...
...Mississippian, one of the most influential members of the Senate, served notice that he will oppose President Roosevelt's plan to lift the legal limit of the National Debt from $45,000,000,000 to fifty billion...
...time there were 138 legal reserve companies with aggregate assets of $2,924,253,848. Last week Bill Douglas declared that at the end of 1937 there were 308 legal reserve companies with aggregate assets of $26,249,049,219. The biggest three companies in 1906 had some half billion dollars in assets apiece then; now they have more than a billion apiece. And Metropolitan Life Insurance Co., which in 1906 had only $176,000,000, today has the fabulous total of $4,700,000,000, making it, next to American Telephone & Telegraph, the biggest company in the world. Said...
...most Congressmen, the President's half-billion-dollar arms program was less steep than they had expected...