Word: crediteer
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Dates: during 1930-1939
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...scoring territory, the Crimson showed for the first time that it could do something when the goal-line was in sight. In the plays, both by men playing in new holes, Danny Wells and Chet Litman, the ball was carried from the 14-yard line for a score. Credit for the victory must go to the New Deal in the football team, which put in a new left side of the line and completely jumbled up the backfield...
Sirs: Your statement (footnote to the article on p. 57 of your issue of Nov. 6, with reference to the Administration's attempt to ease bank credit by increasing the capital funds of the nation's banks) that "the New Deal does not frown on evasions of the law if they happen to suit its purposes," although doubtlessly true as a generality, is wholly gratuitous as an explanation of the acceptability to the R. F. C. of $25,000,000 of the "capital notes" of Manufacturers Trust...
...next week's moves. Last Sunday evening Secretary Woodin, long an absentee because of illness, was on hand again. So was Eugene R. Black, Governor of the Federal Reserve Board, George L. Harrison, Governor of the New York Federal Reserve Bank, Henry Morgenthau Jr. of the Farm Credit Administration, Chairman Jesse Jones of R. F. C., Henry Bruere (president of Bowery Savings Bank), the President's financial liaison man, Fred I. Kent, foreign exchange expert, and two theorists: Professors James H. Rogers and George F. Warren. Such serious things had they to consider that the nine guests spent...
These things seriously worried Messrs. Woodin, Black and Harrison who were concerned about the Government's credit, who knew that if the Government could no longer sell bonds there was no way of financing its new expenditures except direct inflation. No small decision did the President have to make, for his advisers were drawn in different directions.* He well knew that Harvard Professor O. M. W. Sprague, onetime adviser to the Bank of England who had come over last spring to act as his adviser, was considering resigning as a protest against the policies afoot, that financiers in London...
Should stabilization be announced and a return to a gold basis authoritatively forecast, there would be an instantaneous change for the better. Even an issue of $3,000,000,000 or more of bonds would be accepted as within the government's credit capacity for the profit on gold held by the Treasury would enable the Federal Government to issue large sums of money which would have back of it a metallic reserve instead of an empty promise...