Word: crediters
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Dates: during 1940-1949
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...Agony of Philosophy. At 37, and with only two books to his credit, Freddie Ayer has become Britain's most discussed younger philosopher, the chief apostle of a school which its followers call "Logical Positivism." Freddie Ayer himself is a man who hates to get up in the morning and finds writing philosophy agony ("I smoke cigarette after cigarette, twirl my watch chain, and all that sort of thing"). The son of a small businessman, he made his way on scholarships through Eton ("I wasn't awfully happy there") and Oxford ("The people were much cleverer than...
...Federal Reserve Board pulled in another notch in the nation's credit belt last week. It ordered its 7,000 member banks to put up some $1.9 billion in additional reserves. It was the second time FRB had used the new anti-inflation powers granted by the special session. (The first was tightening of installment credit, which goes into effect next week.) As banks lend about $6 for every dollar they have on deposit, FRB's order, in effect, cut the lending power of banks about $12 billion...
...decline, certain that the new curb would edge interest rates upward and increase the cost of doing business. In two days, the Dow-Jones industrial average fell 2.29 points to 180.61 in the heaviest selling in weeks. But bankers doubted whether FRB's action would tighten credit much. There was too much money in circulation and too many big non-bank lenders, e.g., insurance companies, ready to fork out cash. New York's National City Bank Monthly Letter said that a practical banker might well ask: "Why crack down on us so that our competitors can take...
...Credit Plan. Westinghouse Electric Corp., which thought appliance sales might be nipped by the Government's installment credit curb, announced a new plan to make credit easier: Westinghouse will guarantee the buyer's bank loan. If he defaults, Westinghouse will buy back the equipment, and repay the balance of the loan...
Socialist: for President, Norman Thomas, 63 (for the sixth time) ; for Vice President, Tucker P. Smith, professor of economics at Michigan's Olivet College. Advocating public ownership of natural resources, basic industries and credit, the Socialists denounced Henry Wallace as "an apologist for the slave state of Russia and the preacher of peace by blind appeasement." The party polled 884,000 votes in 1932, dropped...