Word: discount
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Dates: during 1930-1939
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...work." Setting forth his own program point-by- point, President Hoover reiterated these principal items: 1) a balanced Budget; 2) no more public borrowing; 3) credit expansion by the Federal Reserve Banks; 4) local charity to relieve distress; 5) a five-day government week; 6) a Home Loan Discount system; 7) authority for Reconstruction Finance Corp. to borrow an additional billion and a half dollars to be lent States unable to care for their needy and to private industry unable to secure credit elsewhere...
When Conductor Leopold Stokowski made this statement five weeks ago, most people were inclined to discount it as Stokowski-talk. But last week Stokowski made good his word. He assembled 200 jobless musicians in Reyburn Plaza opposite Philadelphia's City Hall. A sharp wind was blowing across the open square. Some of the musicians sat huddled in overcoats. But Stokowski, by the time the concert was under way, had shed even his jacket, stood conducting in his shirtsleeves...
...dividends at all but to put the whole of their profits for the fiscal year 1931-32 into reserves was the unanimous decision last week of Poland's seven largest banks, including the Warsaw Discount Bank (Rothschild) and Warsaw Bank of Commerce (Harriman...
...beneficial effects out into countless allied trades and manufactures, President Hoover called his Home Building & Home Ownership Conference two months ago (TIME, Dec. 14), urged its attendants to get busy and encourage the building of houses. Now pending before Congress is a bill to create a Federal Home Loan Discount system to safeguard mortgages and open up fresh credit for private building (TIME, Nov. 23). A variety of communal plans have been offered in an effort to get the building business again above ground. None seemed more encouraging, more logical to contractors than a proposal prepared by the Building Trades...
...cent, are cut to 6 per cent; and those above 8 per cent are cut by a quarter to one half. The Lombard rate (interest on security loans) is reduced from 10 to 9 per cent. Parallel with these reductions, the Reichsbank is to lower its discount rate from 8 to 7 per cent. Landowners are protected against forced auction sales by the provision that no bid under 70 per cent of the property's valuation need be accepted. Some taxes are reduced but the turnover is raised from 85-100 of 1 per cent to 2 per cent. Measures...