Word: dollars
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Dates: during 1930-1939
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Spite and silver were the amalgam holding together last fortnight's Senate coalition of Republicans and hard-money Democrats which furiously filibustered the Monetary Bill beyond midnight of June 30 when Franklin Roosevelt's power to pare the dollar died and with it the Treasury's exchange stabilization fund. Silver and pressure were what Franklin Roosevelt used last week to split the coalition, pass the bill, revive both fund and power...
...Senators Taft and Austin argued to the last that no resurrection was possible, but had to admit the only way to prove their point was by a court review. This could be had only in the event that some one claims damage if & when Franklin Roosevelt does devalue the dollar further...
...Senate clock's hands met. "I note now that it is Saturday morning," purred Senator Tydings. The President's dollar power was gone, and with it the Stabilization Fund, the higher price for silver...
...with the approval of the President, the Secretary of the Treasury may purchase gold "in any amounts at home or abroad with any direct obligations, coin or currency of the U. S." The price of gold for all practical purposes determines the exchange value of the dollar. If the Secretary should choose to pay $40 an oz. for gold instead of $35 he would in effect devalue the dollar. If he should choose to change the price daily or hourly he could use the power for much the same purpose as the Stabilization Fund. Therefore when the money bill failed...
From 1925 to 1936 Publisher de Graff (cousin to smart Publisher Nelson Doubleday) headed Garden City Publishing Co.'s successful Star Dollar Books, sold 15,000,000 reprints at an annual profit of around $70,000. In 1936 he went to Blue Ribbon Books (nonfiction reprints, 98? to $2.49), last year launched the successful Triangle Books (39?) for them. A top-flight book salesman who knows all the tricks of cutting cost corners, Publisher de Graff figures a profit of 1? a copy, on editions of 50,000. To the original publisher he pays royalties of 1? a copy...