Word: distressingly
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Dates: during 1930-1939
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Late last October when business did not bulge as expected, President Hoover started to prepare for a second winter of Unemployment and distress. His relief formula : Each community must rely on local charity and help itself, with not a penny from the Federal Treasury. Though nothing was to come from Washington but advice, sympathy and cooperation, President Hoover held another round of conferences with such notables as Bernard Mannes Baruch, Alfred Pritchard Sloan Jr., Charles Hayden. A Cabinet committee was appointed "to formulate plans...
...more than 24,500,000 bales against probable world consumption of American cotton of 13,000,000 or possibly 14,000,000 bales. . . . This condition has already resulted in drastic declines in cotton prices which if allowed to continue may bring direct disaster to cotton-producing States and indirect distress to the nation. . . . Time has now come when cotton producers themselves must be called upon for immediate and drastic action. . . . Board suggests you immediately mobilize every interested and available agency including farmers, bankers, merchants, landowners and all agricultural educational forces to induce immediate plowing under of every third...
...first of the facts to be determined is the probable volume of the load of distress to be provided for. Economic changes will materially improve certain areas and others may be worse. ... I have been canvassing the situation. . . . The completion of these conferences and inquiries will require another month. By that time all the facts should be clear...
Last week Newfoundland's money troubles were suddenly solved. No province in distress ever had a stranger saviour. Miss Jeannette Lewis, a stocky lady with a large capable jaw and large capable feet, drove up to Montreal's swanky Ritz-Carlton hotel, registered, and let it be known that "myself and my associate" were ready to lend Newfoundland not only the $8,000,000 it asked for, but $109,000,000. Of this amount $10,000,000 was immediately available in cash...
...loan to the Dresdner Bank to stave off a threatened run. The loan will be made by buying three-fourths of the bank's outstanding stock. At the same time it was definitely announced that whenever German banks do reopen, that other D bank in distress, the Danat, would reopen too, the Government guaranteeing depositors' funds. Correspondents realized that with the Reichsbank dictating to all German banks, with the Government owning two of the greatest remaining private banks, state capitalism is now a fact in Germany...