Word: crediteer
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Dates: during 1930-1939
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...wheat growers would be 30? per bu. The other was that the U. S. consumes only five-eighths of its total wheat production, so the wheat grower would be paid on only five-eighths of his total crop. On tap in the Treasury was a $200,000,000 credit to get Domestic Allotment off the ground. Of this about $150,000,000 would be used for wheat. The Treasury is to get its money back by a 30? per bu. processing tax on wheat collected from millers...
Litvinov. For the Soviet Union, round, cherubic Foreign Commissar Maxim Maximovich Litvinov offered a billion dollars' worth of Russian orders for the World's industrial products-but with the fatal string attached that Russia can buy only on credit, something the World is unwilling to give...
Lewis Williams Douglas: Who in times of lessened public revenue, and increased expense, is engaged in saving the national credit by wise and just economy...
...Power in the Federal Reserve Bank should, however, be more centralized so that it can take prompt action to tighten up credit as soon as inflation sets in, to free credit when deflation starts. At present with twelve scattered Reserve Banks and a central board "composed of men of diverse opinions," prompt and effective action is difficult...
...payable one a year for ten years, and they also paid down $2,000,000 in cash obtained as a loan from Cleveland's Guardian Savings & Trust Co. by putting up the Nickel Plate stock as collateral. So the original deal was financed entirely on credit and borrowed capital. They presently formed Nickel Plate Securities Corp., which assumed liability for the notes and the loan. It issued $2,000,000 worth of preferred stock to which the Van Sweringens subscribed about $500,000 in cash. They also got most of the Securities Corp.'s common stock. With...