Word: hoard
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Dates: during 1930-1939
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...supplying dollar gold pieces in exchange for paper zloty. All this gold, declared the Bankers' Association of Poland in a manifesto to the public, was becoming "sterilized" in Polish pockets, socks and safety deposit boxes-a dreadful thing to have happen. When Poles continued doggedly to buy and hoard gold, the Bankers' Association warned Finance Minister Jan Pilsudski (brother of Dictator Josef) that there was but one thing to do: the State must ban gold imports into Poland by any individual or bank except the Bank of Poland...
...Dewart had come, on behalf of the late publisher Frank A. Munsey, to buy the News for $340,000. At Widow Wood's insistence he had brought currency, new $1,000 bills. She loved to hoard and fondle large currency. (Her husband used to give her half of his winnings from the gaming tables of the Manhattan Club and Saratoga, as much as $75,000 at a time.) One by one, Mr. Dewart handed each bill to Mrs. Wood who examined it minutely, passed it for further scrutiny to her sister, Miss Mary E. Mayfield, to her daughter Emma...
...They Hoard? The average man withdraws his money from a bank in gold or gold notes ("Seepage of deposits," President Hoover called it) for just one reason: he is afraid the bank will fail and his money will be lost...
Such obvious loss of confidence literally forces banks to hoard also. Fearing a run by its doubting depositors it must be fortified by an abnormally large amount of cash in its vaults. To do so they take their eligible paper to the Federal Reserve Bank in their district, rediscount it. If pressed, they must sell their secondary reserve of bonds and stocks in the open market, probably at a loss. Cash on hand in banks is sterile, earning nothing, doing good to no one, a tribute to fear...
...over-visible horizon, and since a true educational system is a true relationship between teacher and student, it is quite apparent that the college has just as much right to pick its students as to choose its teachers. If Plato had not believed this, we might never have hoard of Aristotle...