Word: contentedly
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Dates: during 1930-1939
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...hand, even an hour, in many courses, is by no means a sufficient length of time for an intelligent discussion of the work done during the reading period. Involving a variety of choices as it does, the question must be general in its phrasing, but the student has to content himself with jotting down enough facts and quotations to convince the corrector that he has done his work. There is little opportunity for the working out of a thoughtful summary of the reading along the lines of one's own intellect, which the reading period ought to encourage...
...domestic prices are concerned, Mr. Roosevelt would not like to send the dollar up in gold content, for that is the same thing as bringing down the price level-at least it might have that immediate effect. So the President has virtually been prevented from any deflationary move...
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...
...Roosevelt doesn't know what steps foreign governments may take to depreciate their own currencies. The President has two weapons of self-defense. He can buy their currencies, selling dollars, and thus hold exchange at a fixed point. Or he can vary the gold content again and depreciate the American dollar down to 50 cents as a measure of protection in a currency...