Word: crediteer
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Dates: during 1930-1939
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...such an atmosphere Senator-elect William Gibbs McAdoo, President Wilson's Secretary of the Treasury, blurted: "The credit structure of the U. S. is a disgraceful failure, our entire banking system does credit to a collection of imbeciles. ... I favor a constitutional amendment that will deprive all States of the power of creating and controlling banks and that will put one federal banking system into effect which will make every bank in the nation safe...
...structure seemed ready to fall on their heads, there was one big beam that was still as sound as the day it was hewn-the Federal Reserve System. It stood last week as it has throughout the Depression, in an impregnable position. It pumped out $215,000,000 in credit, it saw the money in circulation rise to the highest point in a decade as fear of runs made bankers fill their tills with cash and fear of failure sent depositors scurrying to the tills. It saw its gold stocks dip $51,000,000 but its ratio of gold...
Thus British munitions makers will be permitted to fill all the orders they had received up to last week from China and Japan, while at the same time His Majesty's Government receives credit in newspaper headlines for declaring a "temporary embargo." Not without reason is Sir John Simon hailed as the greatest and highest paid British lawyer of the age. Paris dispatches reported that the French Government would take the same stand as the British...
...depression, but in times of prosperity. In a period when there is considerably little money passing about, when individuals and private businesses are postponing their buying and economizing in every way, it is exceedingly foolish for the State to withdraw its funds from circulation by reductions and restrictions. Its credit is the best in the world; it would have no difficulty in raising the money to keep the shop running at a normal, sound rate of expenses...
...does diplomacy afford the most important argument in favor of recognition. The old insistence of many economists that The old insistence of may economists that the most efficient, way to prevent the Soviet dumpting which has so frightened our producers is the extension of credit to Russia with a view to enabling her to purchase from us, is meeting a wider acceptance. Business men in this country have realized for some time that they are losing Russia's custom because of the government's diplomatic stand, and have protested against it. The Soviet rulers favor American methods and machinery...