Word: loans
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Dates: during 1930-1939
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Since the War, provincial art museums have burgeoned weedily throughout the U. S. Most of them, waiting for their permanent collections to grow, keep their galleries filled with loan exhibitions of modern paintings for which they pay the artists nothing. The average artist of any reputation generally has six or eight pictures making the museum rounds, seldom sells any. At the end of the season he is put to considerable expense fixing broken frames, patching cracked varnish, and otherwise repairing minor damages to his work...
Fourteen artists who have had good luck in selling pictures through loan exhibitions promptly resigned from the Painters, Sculptors & Gravers. As prominent as any of the boycotters, they included Guy Pene du Bois, Charles Burchfield, Eugene Speicher, William Glackens, Charles Hopkinson, John Carroll, Mahonri Young, Henry Mattson, John Sloan, Judson Smith...
...silver standard. The question was last week whether Mr. Roosevelt had driven China into the fiscal arms of Britain. Sir Frederick Leith-Ross of the British Exchequer has been in China for some weeks. He is rumored to have made available ?10,000,000 as a "monetary re-organization loan" to Nanking, with Chinese currency to be linked with the pound sterling. This last week could not be confirmed, but British support was immediately obvious in an Order in Council legalizing Chinese paper notes in all transactions with British subjects. The Japanese Press in an outburst of anti-British rage...
Since the average legal reserve is approximately 10%, the "excess" will suffice for additional deposits up to ten times that surplus. Bankers do not have to wait for deposits; they can create them so long as they have "excess reserves." The deposits are created by making loans. Thus, for example, if a bank lends a businessman $10,000, it merely credits his checking account with $10,000. This increases the bank's deposits (i. e. liabilities) by $10,000, and its assets are equally increased by the businessman's note. Writing checks on the new $10,000 account...
...stern captain in 1907; it was during those days of strain that I discovered for myself what an admirable intelligence gleamed through the fierce eyes of J. Pierpont Morgan.'' More trouble threatened during the War. when National City plans for financing a French loan collided with the plans of the House of Morgan. A frank talk, a slap on the back and this misunderstanding was clarified. Only William Rockefeller, whose "velvety politeness . . . marked a character accustomed to work in darkness." revealed real staying-power as a Vanderlip enemy...