Word: draining
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Dates: during 1930-1939
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Breaking down the German export surplus of $561,204,000 for the first ten months of 1931, one sees that nearly half this surplus consists of exports to Soviet Russia and of "payments in kind" to the Reparations' creditors of Germany. The latter, of course, are a drain on Germany, not a gain. The exports to Russia are a story in themselves (see p. 20). Unlike other German exports they were sold on the longest of long export credits. To furnish these credits, German banks and the Reichsbank in particular have been drawing on available credit resources...
...soon start losing golda not unwelcome event since France's gold now totals the record sum of $2,656,000,000. But in last week's declining franc and rising dollar bankers were prone to see primarily a reversal of the situation which recently caused the great drain on U. S. gold. After England suspended gold payments (Sept. 21), the U. S. lost $730,000,000 in six weeks, heaviest gold movement in history. Meanwhile U. S. citizens, alarmed at the spectacle of vanishing gold and failing banks, began to hoard, putting a severe and needless strain...
...hard-headed measure of a man's real willingness to work. The asperities of rock-hammer and timber-axe will soon enough sort out the industrious needy from the conveniently unemployed. Any able-bodied man can keep body and soul together at the work provided without a drain upon the state, thus greatly lessening the need for downright dole...
...from 61.5% on Nov. 4 to 62.5% last week. Currency in circulation dropped $24,000,000 in the week ended Oct. 29, increased $63,000,000 the next week (about normal for any month-end), dropped again for the week of Nov. 11 by $26,000,000. The gold drain from the U. S. tapered off and for the past fortnight the Reserve showed a gain in holdings...
What the U. S. had been through in October the President described: "Following the abandonment of the gold standard in England a wave of great apprehension spread over the country. Hoarding of currency rose to $200,000,000 a week. . . . Country bank failures had risen. . . . The drain of gold abroad was over $200,000,000 a week...