Word: borrowers
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Dates: during 1920-1929
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...relief. For rehabilitation work later on, Mr. Hoover and the Louisiana State Reconstruction Committee organized a special Louisiana credit corporation. Federal Intermediate Credit Banks will re-discount farm loans made by this corporation at a ratio of four to one-which means that the corporation will be able to borrow four times as much money as it raises. Meanwhile, Lewis E. Pierson, president of the U. S. Chamber of Commerce, and Eugene Meyer, chairman of the Farm Loan Board, began a campaign among Northern businessmen and bankers, asking them to match, dollar for dollar, the money being raised in Louisiana...
...case, by raising the Reichsbank rate, because Dr. Schacht put the rate down from 6% to 5% last January, and considers that level necessitously expedient for reasons affecting his defense of the gold mark.* As a result there remained not sufficient sums at the disposal of individuals desiring to borrow for productive enterprise. Therefore, Dr. Schacht informed the German bankers, they must undertake to reduce their loans to market speculators, not by raising their rate of interest, but simply by refusing to lend to other than productive businessmen. If they would not cooperate. . . . But Dr. Schacht knew that they would...
Senator William E. Borah of Idaho: "On the steps of the nation's capital, last week, I encountered a man who asked to borrow a dollar to get a bite of lunch. Said I to him: 'That's an old story. I don't believe you're broke, but here's the dollar. This is the proudest moment of my life.' That man was Senator James Couzens of Michigan, richest of all my colleagues, one of the original stockholders of the Ford Motor...
Italian Financing Credit Consortium for Public Works, the institution created by order of the Italian Government to finance Italian shipbuilding, tried to borrow $12,000,000 in Manhattan last week, and simultaneously $8,000,000 in London. The Italian Government is now considering the creation of a stock company, under patronage of the Export Institute, to give commercial credits to exporters of Italian goods...
...providing for these loans authorized the United States Government to sell Liberty bonds to its own people, and to invest the proceeds of these bonds in the bonds of these foreign Governments.... What we allowed our associates to do, in effect, was to borrow money in our investment market, but since their credit was not as good as ours, to borrow on the credit of the United States rather than on their...