Word: discount
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Dates: during 1930-1939
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...Banks Trust Co.. capitalized at $107,500,000 on which the R. F. C. on the recommendation of Brain-trusty Adolf Augustus Berle Jr., put up $50,000,000 and the savings banks the rest. Banks which own stock in the trust company may, should the need arise, discount their bonds at S. B. T. just as a commercial member bank discounts its assets at the Federal Reserve. And S. B. T. itself can obtain Federal Reserve credit...
...counteract the beginnings of world deflation the Federal Reserve Bank lowered its discount rate which produced stockmarket speculation without having much effect on business...
...Raising the discount rale in August 1929, and the Hatry crisis in London, precipitated the debacle which was spurred on in 1930 when the Hawley-Smoot tariff threw a monkey wrench into world commerce, in 1931 by the failure of the Creditanstalt in Austria, the German moratorium and England's abandoning gold. The Glass-Steagall bill produced improvement last summer which was promptly undone by President Hoover's Des Moines speech ("could not hold to gold . . . but two weeks longer"), controversy over War Debts and publication of R. F. C. loans which caused runs on banks...
Although Professor Gideonse, in commenting on the poll, was inclined to discount the importance of the pacifistic inclinations of a large body of students, on the ground that the actual question of war is an emotional, and not a rational problem, the continued interest of college men and women in crystallizing opinion against militarism is of great importance. No class of people is more aware of the obvious absurdity of military force, as an instrument of national policy, than students who are studying the effects of the last war. If they can train their emotional reactions sufficiently well to resist...
...Poll to keep public attention sharply focused on the futility and cruelty of war and thus to combat the weathering effects of time; for any value of such a petition as anti-militaristic propaganda is obviated by the prevalence of peace. And, however much one may be tempted to discount the validity of the resulting opinions on the score of the irresponsibility of youth in college and in peace time, there can be no doubt that such movements are most vital to the maintenance of peace...