Word: effective
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Dates: during 1930-1939
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...means that Harvard would not come under the usual tax-exempt category. Another clause, however, stipulates that taxes on bequests should not exceed 15% of the amount given to any one beneficiary, leaving approximately $2,000,000 which will eventually be realized by the University. Federal taxation will not effect Mrs. Nieman's grant because of its educational use, and also because Federal inheritance taxes cannot be twice collected on the same money within a five year period...
...Claud Schuster, Permanent Secretary to the Lord Chancellor was reported to have advised the Cabinet that legally the King cannot marry Mrs. Simpson without the Government's consent. The New York Times credited the highly exasperated King-Emperor with having told his Prime Minister something to this effect: "I am now happy for the first time in my life and I wish you would let me alone...
...week, but meanwhile Soviet munitions were arriving to bolster the cause of proletarian Premier Francisco Largo Caballero who fled with his Cabinet from Madrid to Valencia (TIME, Nov. 16), and the enormous quantity of gold which his adherents took from the Bank of Spain was beginning to have its effect. It was established last week that disguised Spanish fishing smacks, heavily armed, have been regularly running this gold to Marseille. The Bank of France has been buying it as fast as presented, and in the name of Largo Caballero and other Spanish Marxians as individuals, bank accounts have been...
Long before he moved from Germany to the Institute for Advanced Study at Princeton, Albert Einstein wrote an equation based on Planck's little constant h to explain how and why light falling on a metal kicks electrons out of the metal, setting up electric currents. This photoelectric effect is now familiar to laymen because it serves to open doors in restaurants and railway stations, operate drinking fountains...
Social Security was one of N.R.D.G.A.'s prime legislative purposes long before that subject took form on the Congressional calendar. Social Security is, in effect, insurance on buying power. Retailers are close to the public, so self-interest dictates that retailing policy follow elections...