Word: budgets
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Dates: during 1930-1939
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...days later took the U. S. off gold, for all practical purposes, with his bank-closing proclamation which ended the conversion of paper currency into metal. But deflation ground on. In banks which failed to reopen was tied up some $4,000,000,000. Government economies to balance the budget reduced private spending. Unemployment rose to 13,000,000. The fear of riots and social unrest in Cleveland and Detroit kept Washington on nervous edge...
Answer 2. The President still plans to try credit inflation by building public works out of his extraordinary budget. But whereas two weeks ago he did not call it inflation today he delights in calling it by that name. The theory is that when the time comes to control inflation the extraordinary budget can simply be cut out, which may not be as easy as it sounds. Then may come the supreme test of Mr. Roosevelt's character: whether he can resist demands for more inflation. One of his Democratic predecessors, Cleveland, stern of character, faced such a crisis...
Like the fever chart of a sick giant, the Federal Budget continued to make news last week about the public credit of the U. S. On April 18 the red line of the deficit broke through the billion-&-a-half-dollar mark for the first time in fiscal 1933. On that day Federal outgo ($3,102,172,570) since July 1, 1932 exceeded Federal income ($1,598,325,881) by $1,503,846,689.* The Public Debt stood at $21,452,266,588, an increase of $1,965,263,144 in the form of borrowings to meet current expenses since...
...post-War peak of the national debt was $25,482,000,000 in 1919. Over $8,500,000,000 was lopped off in ten years bringing it down to $16,000,000,000 in 1930. Since then $5,000,000,000 has been added, by an unbalanced Budget and depression expenditures. On March 31 the debt stood at $21,362,000,000. Of this amount just about two-thirds is in bonds, one-sixth in notes due during the next five years, one-sixth in certificates and bills due in a few months time. To have so much...
...banks, to relieve unemployment, to do over Muscle Shoals and the Tennessee Valley, to refinance farm and home mortgages, to reforest hills, to revamp railroads, to boost wheat, cotton and other prices. Selling a huge bond issue will not be easy until the public knows i) that the ordinary Budget is balanced; 2) what limit is going to be set on extraordinary expenditures...