Word: cent
(lookup in dictionary)
(lookup stats)
Dates: during 1930-1939
Sort By: most recent first
(reverse)
This is what is embraced by the President's proclamation fixing the value of the dollar at about 59 cents as compared the dollar at about 59 cents as compared to its former gold content. Broadly speaking. It means that Mr. Roosevelt has set an upper limit of 60 cents-indeed, Congress did that for him--and he has now fixed a lower limit of 59.06 to be exact, so that foreign governments may know there is less than one per cent of variation upward that Mr. Roosevelt can make and there is slightly over nine per cent that...
...Roosevelt has no internation of varying the gold content unless conditions require it. He has a $2,000,000,000 stabilization or equalization fund ready to sell dollars if necessary in foreign exchange so as to keep the dollar hovering around the 59-cent level. Sometimes, however, an internal political situation, such as the fall of a ministry, may send the currency unit of a foreign country down, which is the same thing as forcing the dollar up. It is to offset these emergencies that the big equalization fund is to be employed...
...quantity and the fact that America is still exporting more goods than it is importing makes it difficult to determine an accurate valuation at this times. But even if it takes a year or so, the chances are that business and finance will slowly adjust itself to a 60-cent dollar and will make plans on that basis so that some day we may be in the position of ratifying the decision just made as having been in accordance with world factors
...issue has been brought to a head because in the south the government is going ahead with its cotton control plan with a million contracts, whereby farmers pledge themselves to cut their acreage by 40 per cent under the previous five-year average. Members of Congress report that there is a heavy business being done in the purchase of fertilizer, indicating an intention to stimulate production. Also there is a slowness to sign contracts, because farmers in some instances think they will gain more by staying out of the plan and increasing their acreage than by coming in and accepting...
...problems growing out of the plans for artificial control of agriculture. "Bootlegging," is already carried on extensively in wheat and some in pork products. The farmers are allowed to grind' flour for their own use, but many of them have been selling flour so as to avoid the 30-cent processing tax. There's pressure on Secretary Wallace to put into effect a certain tax exemption on farm-killed pork. This, it is argued, is another provocation to "bootlegging...