Word: crediteer
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Dates: during 1930-1939
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...that this bank "extend credit to every person, firm or corporation requiring money with which to purchase necessities or to employ men to aid in that purpose...
...loans be character and past earning power, thus qualifying a vast number of unemployed, and that each branch have an employment agency. Planner Morris, who collects American antiques and champion Leghorn chickens, was simply advocating what few serious economists have dared to suggest: opening the till of government credit to the consumer. Every single governmental attempt to prime the business pump throughout four years of Depression has been one indirect method or another of easing credit to producers. The Governor of Georgia urged that Army planes scatter greenbacks over the land but no serious effort has ever been made...
...Brown Brothers, Harriman & Co., read a telegram from Professor Edwin Walter Kemmerer of Princeton, famed financial adviser to many nations: "I hope the Chamber of Commerce will recommend an early return to the gold standard, and an immediate commitment by the Government to do so. Our gold supply and credit situation are such as to render a prompt return to the gold standard entirely feasible. The danger of an uncontrolled inflation, which is already serious, increases with every day of governmental delay in announcing a definite stabilization plan." Gold Demand. In Washington, Halsey K. Davis filed a mandamus action...
...confident and contented capital. ... He can neither prey on the misfortunes of others nor hoard his labor. . . . All history warns us against rash experiments which threaten violent changes in our monetary standard and the degradation of our currency. . . . Every unstable and fluctuating dollar fails as a basis of credit, and in its use begets gambling, speculation and undermines the foundations of honest enterprise...
...Cambridge, Mass, bank engaged in a minor financial transaction with a man named Sprague, inquired of Mr. Sprague's regular bankers if his credit was good, got the following reply: "Mr. Oliver Mitchell Wentworth Sprague has been our client for many years and has always had our confidence in his credit and integrity. Mr. Sprague holds the Edmund Cogswell Converse Professorship of Banking & Finance at Harvard and has served as professor of Economics at the Imperial University in Tokyo. In 1930 he went to London where for two years he was financial adviser to the Bank of England...