Word: crediteers
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Dates: during 1930-1939
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...Century Fund which he founded in 1919 for economic research; the International Chamber of Commerce; the U. S. Chamber of Commerce (from which he completely withdrew in 1936 when he thought the Chamber had become a reactionary businessmen's club); the re-election of Franklin Roosevelt; co-operative credit associations. In 1936 his remarks at the biennial congress of the Cooperative League of the U. S., were interpreted by some listeners as a final severance with the existing profit system. Later he denied this, said he believed private business would be helped, not hurt by consumer cooperation...
...speech did not alter the obvious political fact that the Administration has no more intention of letting a runaway bear market develop now than it had to see a bull market get out of hand last spring. At that time the Federal Reserve Board was bearing down on credit. Fortnight ago it started to loosen up, persuading the Treasury to release $300,000,000 worth of "sterilized gold" (TIME, Sept. 20). As a stockmarket hypodermic, the gold news was notably weak, for it reminded Wall Street that almost anything can happen, but it again showed that the Administration not only...
...pesos) proceeds of the coconut oil processing tax which the U. S. imposed in 1934. So President Quezon, although he bitterly opposed the original imposition of the tax, now has 100,000,000 pesos to spend and is intent on getting full credit for it. To a special session of his legislature, he explained how he proposed to start spending this windfall...
Twin keystones of the U. S. liberal weekly press are the 23-year-old New Republic and the 72-year-old Nation. Each sells for 15?, each is published in Manhattan. Outsiders are likely to credit the Nation with having a little more wallop than the New Republic, the New Republic with having a little finer literary quality than the Nation. Politically they are not far apart. According to Editor-Owner Freda Kirchwey, the Nation "has followed a left-liberal policy all the way through, and it has shifted somewhat further to the left as times have changed...
...dropped Shanghai from their schedules. Passenger traffic to China had ceased almost entirely, although traffic to Japan suffered little. Marine underwriters discontinued (or raised to prohibitive heights) war risk insurance on all cargoes to be unloaded at Chinese ports. This promptly affected exports, for banks generally refused to advance credit on uninsured shipments. New York seamen contributed to the trouble by agitating for war risk pay when serving on ships in "endangered waters." The Dollar Line had one consolation: fat fees due from the Government for rescuing five shiploads of refugees from Shanghai and carrying 1,200 troops there from...