Word: eccleses
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At Munich, Mr. Chamberlain and Mr. Hitler very ably appeased each other. Mr. Chamberlain by giving in, Mr. Hitler by declaring his good intentions. The big unsettled question about President Roosevelt's business-appeasement policy is whether it is the Chamberlain or Hitler kind. Last week it looked more...
The baby produced in the President's next message was inspired by Chairman Marriner Eccles of the Federal Reserve Board: the promise of an 80-billion-dollar national income to be obtained by continued public spending. Ever since that birth, the President's Cabinet meetings have been sparring...
A month before Franklin Roosevelt's $8,995,000,000 1940 budget appeared, conservative Democrat Harry Flood Byrd of Virginia issued an anticipatory blast at continued deficit financing. Federal Reserve Chairman Marriner Stoddard Eccles replied to him in a letter that filled three newspaper columns (TIME, Jan. 2). Last...
> To the Eccles claim that the total amount of debt (public and private) is no greater than in 1929: "As you know, our national income is only 60 billion dollars, whereas for 1929 it was 80 billion dollars. The income out of which these debts must be paid has shrunken...
> To the Eccles claim that while Federal spending makes taxes higher, it makes it easier for taxpayers to pay them: a table of relative per capita income and taxes: