Word: leveling
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Dates: during 1930-1939
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Sounding the cry for a fair scholarship policy, President Conant declared "we have had fortunate experience" with the "sliding scale National Scholarship" plan at Harvard. "It is perfectly evident to me," he said, "that at the college level, and at the advanced professional school stage, all the institutions of the country have been fishing in one small pond. They have been concerned, by and large, with a competition for the most promising youths in the income tax paying group; and at least three-quarters, or more probably 90 per cent, of the youths of the country...
...President Roosevelt declared that a prime New Deal objective was to raise commodity prices to the level of the ''normal'' year 1926. Last spring, when the commodity price level (Bureau of Labor Statistics) was still only 88% of the 1926 norm. President Roosevelt announced that commodity prices in general and steel and copper prices in particular were too high. His remarks precipitated a worldwide slump in commodity prices, which have fallen almost steadily since, were last week back to 80% of the 1926 norm.* Last week Franklin Roosevelt once more delivered himself on commodity prices...
...year ago there was ground for concern that a too rapid rise in the prices of some commodities was encouraging a speculative boom. During the past six months, on the other hand, the general price level and industrial activity have been declining. Government policy must be directed to reversing this deflationary trend...
...trying to get back to the 1926 price level? Yes and no. The object is more to establish a balance of prices than to reach a norm...
...industries, such as agriculture, that operate at a high level of capacity even when business activity is at low levels, the restoration of profits must come pri marily through higher prices. . . . Recently wholesale prices have declined markedly, yet that decline has been reflected in the cost of living only to a very slight degree. . . . It is clear that in the present situation a moderate rise in the general price level is desirable, and that this rise need not and should not extend to all prices...