Word: debtors
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Ever since the World War transformed the U. S. from a debtor to a creditor nation, it has been economically unhealthy for the U. S. to export more goods than it imports. (Debts cannot be collected unless the U. S. buys more from its debtors than they buy from it.) Last week the Department of Commerce reported that 1938's export surplus of $1,133,567,000 was the largest since...
...rate nation financially, its markets peewee, its banking system immature, much of its industry financed from Europe. Now the New York Stock Exchange is the world's No. 1 securities market, the U. S. holds 55% of the world's gold and the nation, no longer a debtor, is the world's creditor...
Assistance for U. S. exports was made necessary by three great post-War changes -the building of huge tariff walls, the U. S. shift from a debtor to a creditor nation and the establishment by competing nations of export credit agencies. With almost every foreign nation in debt to the U. S., none had money to buy U. S. products; and the U. S. banking system, developed for a debtor nation, had no machinery for providing foreign buyers with long-term credits. The first Export-Import Bank was created by Franklin Roosevelt in 1934 to fill the need for Russia...
...Guffey, the mayor knowingly inquired: 1) whether Governor Earle had borrowed $30,000 from Little Matt; 2) how many millions of dollars worth of State contracts had been awarded to Contractor McCloskey; and 3) how many McCloskey men the State had appointed to inspect McCloskey jobs. From Harrisburg hapless Debtor Earle replied: "Matthew H. McCloskey has been one of my personal friends. ... As my friend, he made several loans to me during the years 1935 and 1936, prior to the time when it was within any possible contemplation that he would ever be the recipient of any State contract. These...
That relations between Mr. Lewis and the President were running the normal course of creditor and debtor appeared last winter during the automobile strikes when the C. I. 0. chief bluntly reminded the Democratic Party that his United Mine Workers had contributed $500,000 to last year's campaign fund. For his pains he got a public rebuke. The split was widened by Mr. Lewis when he demanded that the Administration chastise the Southern Democrats who were scuttling the Wages & Hours Bill. For the past two months the stories about an imminent break have been inspired by none other...