Word: funds
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Dates: during 1930-1939
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Knowing that the bill was fated to pass he concentrated his efforts in trying to have it amended so as to take control of the exchange fund from the Secretary of the Treasury and give it to a committee of experts. Said...
...Lawrence waterway treaty should not be ratified. But most of last week the maps served as a backdrop while the Senate went through the motions of considering the President's bill to seize the Federal Reserve Banks' gold and create a $2,000,000,000 fund for Treasury exchange operations as preliminaries to devaluation of the domestic dollar...
There was never a doubt about the bill's passage. The slashing attack upon it by a dogged minority was wasted effort from the start. Pennsylvania's Reed for the Republican opposition excoriated the stabilization fund and the power given the Secretary of the Treasury to use it to "stabilize" the government bond market: "It is that dishonest thing, creating an artificial market. . . . When a banker does it we cry 'Jail him!' When the Administration does it we say it's praiseworthy." Delaware's Hastings, using no nicer words, denounced seizure of the Reserve...
...Leichtentritt has been a Visiting Lecturer on Music at Harvard during the current year, under the Horatio Appleton Lamb Fund. He graduated from Harvard in 1894 and took his doctor's degree in Berlin 1901. For the last 20 years he has been a teacher of composition and history of music at a well know conservatory of music in Berlin...
...Roosevelt has no internation of varying the gold content unless conditions require it. He has a $2,000,000,000 stabilization or equalization fund ready to sell dollars if necessary in foreign exchange so as to keep the dollar hovering around the 59-cent level. Sometimes, however, an internal political situation, such as the fall of a ministry, may send the currency unit of a foreign country down, which is the same thing as forcing the dollar up. It is to offset these emergencies that the big equalization fund is to be employed...