Word: inflationists
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...Last week that artificial floor was removed. Prices-which had been bobbing along on the rule like balloons without lifting power-promptly dropped the maximum amounts permitted in one day's trading. Great was the hullabaloo. Representative Jones of Texas and Senator Smith of South Carolina promptly swung inflationist thunderbolts about their heads again. Letters and telegrams poured into Washington demanding that the Government repeg prices. No such action was taken. Next morning the grain pits reopened and prices promptly dropped another level lower: dropped and bounced. They mounted rapidly and closed with substantial gains for the day. Thereafter...
...last week much as was the U. S. before President Roosevelt's inauguration. Paupered farmers recently forced the Government to forbid foreclosures temporarily. Bills to inflate the national currency have several times been before Congress. In this emergency last week President Justo temporized, unwilling to appoint either an inflationist or an anti-inflationist as Finance Minister. He turned the office over to a virtual caretaker, Minister of Justice & Education Manuel de Iriondo, making him Finance Minister ad interim. To test public opinion the President announced that Argentina will continue to follow the policy of "No moratorium, no waste...
Almost without debate, the shocked Dutch industrialists voted abhorrence of Sir Henri's "inflationist proposal" but news of it leaked into the Press. Instantly world foreign exchange prices rocked. The gulden tumbled nearly two cents and the French franc took a fractional dip. Swiss francs held "stable as the Alps" as Dutchmen cursed Sir Henri for the first bad gulden break since it was stabilized...
...Your superb summary of the inflation gallop under National Affairs, "Riding the Wave" (TIME, May 1) was marred by slight inaccuracies regarding "No. 1 Inflationist Thomas." Senator Elmer Thomas has been lampooned for three years by most of the Washington correspondents. It was not surprising that they largely underestimated his ability and quickly assumed that "the Squire took him into camp" when Thomas walked out of the Oval room of the White House with his revised Senate bill. Before the Senate silverites had cast an amazing total of 33 ayes for inflation of the coinage of silver, Senator Thomas...
...Senate's No. 1 anti-inflationist, Senator Reed retorted hotly to the Thomas argument...