Word: borrowers
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Dates: during 1930-1939
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Besides organizing SA & CA, the Minister of Corporations last week had time to reach an agreement with textile mill owners to have at least 30% of their employes men, as a move to reduce unemployment, and to borrow a leaf from NRA by announcing a 40-hour week for Italian Industry...
...prime current enigma is whether bankers are unwilling to loan money to businessmen or whether businessmen are unwilling to borrow from bankers. While this enigma was agitating the President (see col. 3), the cheerful news appeared that businessmen borrowed $114,000,000 more last week than they had the week before. This healthy spurt in commercial loans came on top of two months of slow expansion...
...task to borrow money from reluctant bankers ... to labor with Congressional committees in the formulation of financial legislation; to devise remedial measures for a deranged cu rency; to make forecasts and prepare estimates in days when financial responsibility was diffused ... to trim the sails of fiscal policy to political winds; to market the huge loans which constituted the chief reliance of an improvident Gov ernment." For all the years between them those words about Secretary Chase may well have a familiar ring to Secretary Morgenthau...
...probing professors will attempt to answer such questions as: 1) Are responsible businessmen unable to borrow from their banks? 2) Have they been refused because their credit standing has been impaired by Depression? 3) Are banks refusing loans because of a desire to stay liquid, or are the State and Federal examiners too strict? 4) Are businessmen liquidating bank loans with funds obtained from Federal agencies...
...upon whom the nervousness of U. S. Business pressed most heavily last week was the President's loyal, earnest Secretary of the Treasury. A gentleman farmer by occupation, no pundit in monetary affairs, Mr. Morgenthau will have to borrow $1,700,000,000 in a skittish market within two months. It was clearly his turn to be reassuring. Flatly he stated that there will be no change in U. S. gold policy, no devaluation of the dollar. And he twitted: "The financiers seem to have taken seriously reports from South Africa, China and Timbuctoo as to what I am going...