Word: borrows
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Dates: during 1930-1939
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...Adopted a resolution authorizing Southern California to borrow from R. F. C. for earthquake relief and repair;* sent it to conference...
...this new currency was expected to be issued to replace cash & coin now hoarded, but the total was not limited. The Federal Reserve banks were to advance it to member banks on the thinnest sort of security ("cats & dogs," Senator Glass called it). Individuals were also permitted to borrow direct from the Federal Reserve on Government securities...
...Ford's antipathy for bankers dates back to 1920 when he tried to borrow $85,000,000 in Wall Street only to learn that the lenders would demand a voice in running his automobile company. He distrusts the U. S. banking system, feels that bankers too often speculate with deposits. Said he earlier last week: "The first duty of a bank is to be a safe repository for money. . . . It's just as if I put my car in a garage and when I came to get it, I found somebody else had borrowed...
...courses lie open to the government in this matter. Either it can continue its false economies and seriously disable the present system of education, prolonging the deflation period; or it can borrow enough to maintain the colleges and universities on a sensible basis, putting fewer men into the breadlines and more money into circulation, where it belongs...
...with the cash they had in their pockets. People were chary of giving small bills for big ones. By the time the moratorium was modified after two days to permit withdrawals up to 5% of deposits, the scarcity of money was acute. Even Governor-reject Brucker was forced to borrow $10. Newsboys had to sell on credit. In Midland, big Dow Chemical Co. coined magnesium into "Dowmetal money" with a specified value of 20?. The City of Detroit went into technical default, its bonds slumped badly. But Michigan stayed cheerful. It was considered funny to sing to your friends "Brother...