Word: discount
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Dates: during 1930-1939
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...exports of gold and foreign exchange are millions of marks owed to the Fatherland's foreign creditors, notably to such U. S. banks as Manhattan's Chase National. The only way the U. S. banks can move these "blocked marks" is to sell them at a discount in dollars (usually 15%) to tourists or merchants who need marks to spend in Germany, Last spring the North German Lloyd and Hamburg-American ("Hapag") Lines began to accept blocked marks in payment for passage. Passengers who paid in blocked marks were pleased by what was to them a 15% rate...
...cash, half in scrip cashable at 50% of its face value, will thus receive 75% of the sums they are owed. To buy their scrip, banking syndicates will be formed in the creditor countries. The syndicates will resell the scrip at a small commission to the German Gold Discount Bank. This bank, having bought the scrip for a little more than half its face value, will sell to "preferred" (i. e. subsidized) German exporters who can use it at full face value to buy or produce in Germany the goods they export...
...coming from the American people, who patriotically turned in their gold and gold certificates last March. This is the capital levy or contribution which the nonhoarding public will make if the devaluation of the gold content of the dollar goes through as planned, namely on a basis of a discount of one-third from its previous par value...
...notes on products, raw materials, plant equipment, any odds & ends not already mortgaged. The loans are to be used chiefly to finance higher payrolls until buying orders catch up with NRA wages. Such lendings will put R. F. C. into direct competition with the Federal Reserve system as a discount agency. Declared R. F. C. Chairman Jesse Jones": "This is inflation-the best kind of inflation-credit expansion...
...very substantial processing tax" on all hogs over 235 lb., thus putting heavier swine at a market discount and prompting farmers to sell their pigs before they became huge porkers...