Word: greenbacker
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Dates: during 1930-1939
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...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...
...President will issue up to $3,000,000,000 in new paper money under the Greenback law of 1862. Behind this currency will be neither gold nor bonds- only the good faith of the Government. What saves it from being out & out green-backery is a redemption system whereby 4% will be retired annually from appro-" priation by Congress. This paper money will be put into circulation by the Treasury's using it to meet Federal obligations. By diluting the value of outstanding currency, it is supposed to inflate prices proportionately. If the deflation is still unbeaten, then...
Blatant, big-hearted Mary Louise Cecilia ("Texas") Guinan and her blonde gang of greenback gatherers, well beloved in Manhattan, approached France on the French Liner Paris last week. Abruptly they were "barred from French soil," first kept aboard the Paris at Havre, then herded into a detention house half full of Polish immigrants and "legally outside of France." The Ministry of Interior, citing unemployment among French night club artistes, refused to admit competitive La Guinan et sa gang...