Word: greenbacked
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...matter out. In committee the Conservatives just missed victory when an amendment to substitute the dole for work relief failed by a tie vote; the Liberals won a temporary victory by a 12-to-8 vote to boost relief wages to prevailing rates; the Inflationists lost on a greenback amendment. But these were inconclusive skirmishes, to be refought in the Senate. Despite opposition only a major accident was likely to upset the Administration's plans because 1) its bill is in effect a compromise which all the warring factions would prefer to the proposals of their opponents...
...Washington. Its membership was open to all U. S. citizens who subscribed to the Constitution, believed in a white man's God, paid $2 a year to Mr. Smith, and bought his khaki shirts, boots, etc. His program included "America for Americans," abolition of the gold standard, a greenback bonus, freedom for the Philippines, abolition of the "chainstore evil" free coinage of silver. Not its assorted panaceas but the imbroglios of its chief brought the Khaki Shirts its notoriety. Last July when Art Smith was holding a meeting in New York's Queens, antiFascists demonstrated against...
...half the savings which the President made a year ago under the Economy Act. The President let the House know that he would veto the bill if it accepted the Senate amendments. Only a few days earlier the House had defied the threat of a veto in passing the greenback bonus bill. That, however, was only a political gesture for home consumption since no one expected the bonus bill to become law. Last week in what was not a gesture but a deliberate affront to the White House, the House voted 247 to 169 against a rule which, in effect...
...paid for. But by a little cooperation with the Federal Reserve Banks, the Treasury can finance at least part of the program without its costing a cent. The method is equivalent in effect to the issue of flat money but entails none of the disadvantages, real or fancied, of greenback inflation. It involves nothing more sensational than the sale of bonds to the Reserve Banks. The Treasury will have to pay interest on these bonds? Quite so, but the interest will be in the nature of profit to the Reserve Banks, and who is going to get the excess profits...
...acting upon my own convictions and conscience." But no speech by Senator Glass or anyone else could stop the onward sweep of the President's inflation measure through the Senate. When Senator Arthur Robinson, Indiana Republican, tried to tag on a provision for paying off the Bonus with "greenback" currency, Senator Joseph Taylor Robinson, Arkansas Democrat, thundered. "I am authorized to say for the President that he is unqualifiedly against this amendment. . . . The currency inflation provisions of this bill are intended for the express purpose of enabling the Treasury to make provision for maturing Federal obligations." The Roosevelt steamroller...