Word: discounts
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Dates: during 1920-1929
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...last month. Citizen Coolidge hired him as chauffeur and general handy man at $20 per week. Now John drives the dark Lincoln limousine, on the door of which can still be faintly discerned the outline of stars and an eagle which once composed the Presidential seal. At a proper discount, Citizen Coolidge bought his White House car from the U. S. and now stores it in a public garage at $15 per month...
...Reichsbank raised the discount rate from 6 1-2 to 7 1-2 per cent yesterday, according to reports from Berlin. This is declared to be an attempt, belated say the French, to check the outflow of gold from Germany which has been going on with increasing strength since the bank rate was lowered from 7 to 6 1-2 per cent, in January...
...situation surrounding the raising of the German discount rate that is of primary interest to the world. It is the fact that gold should be drained so readily at the loss of confidence. And it is of as great consequence that the Allied press should seize upon these facts as proof of German bad faith...
...issue) "As for rediscount rates, here again it is the province of the twelve Reserve banks (not of the board) to initiate rate changes." About ten years ago an Assistant Attorney General rendered an opinion to the effect that the power of the Federal Reserve Banks to establish discount rates "subject to review and determination of the Federal Reserve Board" gave the Federal Reserve Board authority not only to review but also to determine, and therefore to initiate, a rate change when and if they so desired. J. F. EBERSOLE Office of the Secretary Treasury Department, Washington...
...Discount Rate. As for rediscount rates, here again it is the province of the twelve Reserve banks (not of the board) to initiate rate changes?. Here the Reserve banks have a specific and unquestioned method of making it expensive to borrow money. But this method cannot be indiscriminately applied. In the first place, a high discount rate will attract money from foreign countries. More important, however, is the fact that the Reserve bank cannot make it harder for the speculator to borrow money without making it correspondingly harder for the businessman or the farmer to borrow money. A rise...