Word: crediteer
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Dates: during 1930-1939
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There are estimates to the effect that about $20,000,000,000 of business of a replacement character is available the moment capital markets can be revived. The amendment of the securities act and the establishment of an intermediate credit system are two steps which have been delayed but which are deemed essential to the reopening of the heavier industries...
...efficiency or size, a government dole or subsidy to those who are unable to compete with other units in the same line of business. This may come in the form of special grants or exemptions from working hours or wages or it may come in the extension of capital credit through the enlargement of the credit system now being widely discussed...
...complete story were available, the amount would have been many times 20 billions of dollars," Inquisitor Pecora added. It would, according to Inquisitor Pecora's method of ciphering. "Other" (i. e. not bank) loans to brokers were a major factor in the pre-crash credit inflation. Often known as "bootleg loans," they were beyond the reach of Federal Reserve control. Call loans are payable on demand, are secured largely by active listed stocks, are practically riskless. During 1929 the interest rate on call loans ranged between 5% and 20%. No good corporation treasurer could overlook that opportunity...
...mistake to increase prices of those goods for which there is a large potential demand; rather the volume of trade in these goods should be increased. There is an abundance of credit ready to be used in the country, and this has been increased greatly by the devaluation of the currency. This credit must be used to stimulate good business enterprises...
...economic order. Considering the beliefs of the first group, the Harvard economist stated that the reduction of the tariff might restore free trade, and a modification of the anti-trust laws might do much to eliminate monopolies. Furthermore, most economists agree that the control of the expansion of credit would aid in effecting economic recovery. However, Dr. Mason felt that not nearly enough could be accomplished in the way of recovery by restoring the free market...