Word: crediteer
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Dates: during 1930-1939
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Ninth, the delegation recommended that gold reserves in ratio to notes issued should be materially reduced and thus large amounts of gold locked up in central banks would be released to be used as a basis of credit and currency expansion. Either 25 or 20 per cent minimum reserves were considered desirable but the suggestion that no minimum be established was rejected...
ELIOT RATSKELLER...Smells of fresh paint, and rather high-priced, but there is always a merry, well-dressed late-night crowd, and it has that old railway poster atmosphere. Your credit is good there, and if you come around real late you can have the left overs that won't keep till the next night, gratis. Watch the big bartender with the Hitler moustache do his stuff...
Readjustment. "It is to the eternal credit of the American people that this tremendous readjustment of our national life is being accomplished peacefully. . . . Viewed in the large, it is designed to save from destruction and to keep for the future the genuinely important values created by modern society. The vicious and wasteful parts of that society we could not save if we wished; they have chosen the way of self-destruction. We would save useful mechanical invention, machine production, industrial efficiency, modern means of communication, broad education. . . . But the unnecessary expansion of industrial plants, the waste of natural resources...
...from the Senators and Representatives of the six large silver-producing states,* where remonetization of silver means profit first, inflation second. For the moment at least the President's "stupendous" budget message (see p. 17) had stilled Congressional demands for Greenbackery or other measures likely to impair Government credit...
...Sprague has explained his opinion as follows: "It is conceivable, that an enlargement of the already ample monetary base might in some fashion or another bring about the expansion and more effective distribution of credit and currency, but for myself I confess an entire inability to discover any definite influence that such an increase could exert...