Word: crediteer
(lookup in dictionary)
(lookup stats)
Dates: during 1930-1939
Sort By: most recent first
(reverse)
...sympathy with most of the New Deal aims. He himself likes its tariff policies, its securities and stock exchange regulation, its bank deposit insurance, its handling of strikes and championship of Labor. He approves of public works, regulation of public utilities (including government "yardsticks"), easy farm and home credit and a more equitable distribution of the nation's wealth. Strong for social security, he considers the New Deal's system unjust and impracticable, dislikes its "spendthrift generosity," its currency policies. But the only things which really make him boil are: 1) "must" bills, jammed through without adequate debate...
...first time since Congress amended the Federal Reserve Act in 1917, the legal base of U. S. credit was arbitrarily changed last week. Emerging from a sweltering all-day session in Washington, the Federal Reserve Board announced a 50% increase in reserve requirements for member banks, effective Aug. 15. After nearly a year of public and private debate over the inflationary dangers of excess reserves, Reserve Board Chairman Marriner Stoddard Eccles had finally taken up the slack in the elaborate brake system provided by the Banking Act of 1935 to stop runaway credit expansion...
...slack lay entirely in the fact that the nation's banks now have some $3,000,000,000 in reserves over & above what they need to support their present business. That excess could support a credit expansion of at least $30,000,000,000. It is the threat of such credit inflation that gives bankers like Chase National's Chairman Winthrop Aldrich the jitters every time they think about it. And, through the mysteries of central banking, excess reserves are about to take another rise as a result of the payment of the Bonus, the Reserve Board estimating...
...could be more than wiped out by selling the Reserve System's $2,400,000,000 worth of Government securities. Furthermore, with reserve requirements averaging 15% of demand deposits, the excess $1,900,000,000 will then represent not $19,000,000,000 of potential credit but less than...
...with the law, not for conspiracy in restraint of trade, but for conspiracy "against the peace and dignity of the U. S." in the form of income tax frauds. What was more, the U. S. charged, the frauds had been carried out with a showmanship which would have done credit to the late great Phineas Taylor Barnum...