Word: debt
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Dates: during 1950-1959
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...Government's sale terms were stiff. Though Federal Waterways made no down payment, it must put up an operating capital of $1,000,000, pay off the purchase price within ten years on a graduated schedule of payments at 3¾% interest. Until the debt is paid, Federal can declare no dividends, and will have to pay taxes of from $250,000 to $500,000 in each of the next few years. For the next 20 years it will also have to provide about the same number of trips I.W.C. did or be taken into court by the Government...
MANY people worry about the size of the $272 billion federal debt...
...Parry. In Vancouver, B.C. last week, Prime Minister St. Laurent replied with a 12-point election program which he called "an appeal to reason and good sense." He pledged his party to continue the pay-as-you-go financing scheme under which Canada has, since 1946, decreased the national debt and. except in '50 and '51, reduced taxes. Otherwise, he promised little beyond the continuance of current policies...
Last week Humphrey, who had wanted to put more of the U.S. debt into long-term bonds, was forced to swallow a short-term financing nostrum which had lain unused on the shelf since 1934. He will offer $5.5 to $6 billion worth of income-tax anticipation certificates, paying 2½% and maturing in eight months. As an added inducement, the certificates will pay interest to March 22, 1954, even if used March 15 to pay taxes. Humphrey hopes to sell at least $1 billion of the certificates to non-bank buyers, but expects banks to take the rest...
...worth ought to be the final estimate of their value.") Sir Walter Scott, defending Scotland's ancient laws against Bentham's passion for reform, warning that local tradition could not be erased without damage, writing the Waverley Novels as tracts for conservatism, as reminders of the moral debt that the present owed to principles of liberty and order won by the past; Disraeli, the supple and imaginative politician, yielding with brilliant grace to necessary change, thwarting the mechanical innovators...