Word: eccleses
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What particularly caught the eye in Mr. Douglas's remarks was his effort to interpret the past month's developments on the financial, labor, and judicial fronts in the light of the beginnings of a serious monetary inflation. In view of the measures which the Administration has taken to promote...
Furthermore, a quick glance at the charts showed that the great bull bond market of the 1920s turned its crest early in 1928 when the real "boom" still had a year and a half to run. But even if bond buyers overlooked that last week, they could not, and did...
Meantime in Washington the men responsible for this predicament were busy with plans to make the game, if anything, even more complicated. Called for this week was a conference between Secretary of the Treasury Morgenthau, Chairman James McCauley Landis of SEC and Chairman Marriner Stoddard Eccles of the Federal Reserve...
What Mr. Morgenthau was up to remained unexplained but at week's end Chairman Marriner Stoddard Eccles of the Federal Reserve Board cleared the atmosphere by announcing the long-awaited increase in reserve requirements. The raise was 33⅓%, which coming on top of the 50% raise last summer...
'Net result will be to reduce excess reserves from the current figure of $2,200,000,000 to an estimated $500,000,000, an amount, in the opinion of Mr. Eccles, "ample to finance further recovery and to maintain easy money conditions." Since the Treasury is now "sterilizing" gold...