Word: loan
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Dates: during 1920-1929
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Chairman Eugene Meyer of the Federal Farm Loan Board stopped in on his annual western tour. Again the Farm Problem received highest official contemplation...
...purposes of his visit. He reminded people that he was farm-raised in the days when farming was a mode of living, not an industry. He redescribed farming's transformation and its post-War predicament. He repeated his pledges: 1) for a Federal Farm Board; 2) a Farm Loan Fund; 3) a stabilized, autonomous, farm marketing system...
...benefited by such assistance." He again said: "Only the mechanics remain to be devised." He again promised, if elected, to call in farm experts and have "the mechanics" devised in time for his first message to Congress. (Nominee Hoover had mentioned three methods of farm relief-tariff, waterways, Federal Loan fund...
Concluding with a reference to finance, Jonkheer Beelaerts said: "In 1924 we obtained an American loan of $40,000,000 which will be repaid in 1929. That loan was raised in America not because we could not get money in Holland, but as a matter of deliberate policy...
...Currencies were crashing all around us, and while the guilder held firm [at about 40?] we didn't know what might happen. . . . We decided that America's indorsement of our solvency would be of great value, and went to America for money. Since then most of that loan has been bought back by Dutch investors. Our finance, gentlemen, is sound...