Word: lend
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Dates: during 1930-1939
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Cheap Billion. Because commercial banks see no good business reason to lend to industry to meet the additional wage burdens of the NRA codes; because the Federal Reserve's open-market operations had piled up an all-time record of $2,202,660,000 in U. S. securities without materially loosening credit; because Federal Reserve member banks had reserve surplus of $600,000,000 available for commercial loans. Reconstruction Finance Corp. was marched into the breach with $1,000,000,000 worth of cheap short-term loans for NRA members...
...President of the U. S., they were assembling to consider the effects on banking of the New Deal and the national recovery program. Missionaries of Franklin Roosevelt were on hand to teach them: 1) what the Administration wants. 2) to like it. Big request of the Administration was freer lending in order to furnish industry the money to carry out the recovery program. By buying Government bonds the Federal Reserve has been building up excess reserves in banks, trying to encourage them to lend. In 1928 with $20,000,000,000 in deposits, banks of 101 leading U. S. cities...
Last week Public Works Administrator Ickes agreed to lend the Port of New York Authority $37,500,000 at 4% with which to drive a second automobile tunnel from Manhattan (West 39th Street) under the Hudson River to New Jersey (Wee-hawken). Work was to start in 60 days...
...Authority loan followed closely on the heels of another grant to New York City for the construction of a three-pronged bridge connecting Manhattan, The Bronx and Queens over Hell Gate. The Public Works Administration was ready to give the city $7,200,000 outright for this triborough span, lend it $37,000,000 more. The Triborough Bridge Authority had yet to sign its Federal loan agreement, arrange for bids on the contract. Estimated employment...
...will doubtless laugh, but at what? Sober-sided Critic Edmund Wilson gives as his opinion that: "Miss Stein is trying to superinduce a state of mind in which the idea of the nation will seem silly, in which we shall be conscious of ourselves as creatures who do not lend themselves to that conception." Still puzzled, the plain reader dips into another Stein volume (Tender Buttons), to his astonishment brings up these...