Word: humphrey
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Dates: during 1950-1959
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Sometimes an offhand remark is revealing, sometimes misleading. I hope the latter is true of a comment by our new Secretary of the Treasury, quoted in your fine article [Jan. 26] on him. You report: "When he caught Mrs. Humphrey reading Hemingway's The Old Man and The Sea, he asked, with a wink, 'Why would anybody be interested in some old man who was a failure and never amounted to anything...
...would be too bad if our nation's new financial boss writes off as unimportant "failures" such successes as Hemingway's Old Man, who worked his life out at a useful job, won the adulation of a boy and the affection of his own community. If Mr. Humphrey's own children catch from him as much of the real meaning of life as the old fisherman imparted, then he too is a successful...
...Ferguson of Michigan, and in a category all his own, Tobey of New Hampshire, an enigmatic character in the political spectrum. Chairman Wiley is decidedly as internationalist. On the other side of the table are Democrats Green of Rhode Island. Fulbright of Arkansas, Sparkman of Alabama, Gillette of Iowa, Humphrey of Minnesota, Mansfield of Montana, and George of Georgia. Senator Humphrey was absent during the hearings...
...time an issue of short-term (i.e., one year or less) Government securities has come due, the U.S. has simply offered another short-term issue to replace it. Last week, in exchange for an $8.9 billion issue of one-year certificates falling due Feb. 15, Treasury Secretary George M. Humphrey gave investors a choice of 1) a similar one-year replacement issue of certificates, or 2) bonds maturing in five years, ten months. Humphrey's eventual goal: to put the $267 billion national debt, now 80% concentrated in securities maturing or redeemable in five years or less...
...issues will cost the U.S. more in interest (2¼% for the one-year securities, 2½% for the longer-term bonds, v. 1⅞% for the maturing issue). But actually the new rates are in line with or better than the current market in U.S. bonds. Furthermore, Secretary Humphrey and his chief fiscal adviser, Randolph Burgess, think that the long-run advantages to the Government will far outweigh the higher carrying costs...