Word: hoards
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...reason for the fall in prices is that China and India have ceased hoarding silver. For years all the hard-working millions of India and China, when they wanted to lay something by, tucked a piece of silver into the thatched roofs or the mud walls of their houses. In India the people are said to have five billion ounces of silver quietly tucked away and in China another three billion ounces. When the price of silver goes down they normally buy and hoard more, but today they are too poor to buy at any price. The big reason that...
Last month stories that Ambassador Andrew William Mellon had shipped a hoard of gold to Britain and was afraid to go home became so loud that Pennsylvania's Senator Reed felt obliged to deny them in open Senate. Last week Mr. Mellon debarked from the Leviathan in Manhattan on his 78th birthday, quietly parried newshawks' questions. He said he had heard his successor, spruce young Judge Robert Worth Bingham of Kentucky, "favorably commented on" in London. Asked whether "beer will help much." he said, "What do you mean, help the thirsty?" Asked if he would rest...
...Author. Though born of farmer stock (Kewaskum, Wis., 1901) Author Wescott's family "has aristocratic rather than middleclass prejudices; it does not hoard up its sons for the sake of the family fortune, but regards it as a duty to make gifts of them to 'the State.' "... Intended by them to be an ecclesiastical offering, though his own ambition was to be a musician, Glenway has turned out to be a Literary Gift. His books, The Apple of the Eye, The Grandmothers, Goodbye Wisconsin, The Babe's Bed, picture his native Middle West of which...
...Hoard. Biggest of all time was the gold hoard of the Bank of France last week. Already holding $2,900,000,000 worth of gold, French bankers hinted that they might withdraw another $100,000,000 belonging to them in Manhattan. With confidence in the dollar high throughout the world, U. S. bankers declared that the French could take their gold and welcome...
...credit, the hoarding of $1,500,000,000 is only a drop in the bucket. The banks have no God-given right to deposits. More than 2.300 of them failed in the country last year, tying up $2,000,000,000. If people want to hoard, however foolish the desire, it's their business. After all. the thing is to keep the people from going broke...