Word: loans
(lookup in dictionary)
(lookup stats)
Dates: during 1930-1939
Sort By: most recent first
(reverse)
...petroleum empire. He was indicted for bribing Secretary of the Interior Albert B. Fall with $100,000 to secure the Elk Hills oil lease from the Government. was acquitted in 1930 when he convinced a Washington jury that the $100,000 in a "little black bag" was a personal loan to an old friend...
...Thus it was that Senators Nye & Wheeler popped up in Havana last week at the behest of unhappy holders of $40,000,000 of Public Works bonds issued in the U. S. in the twilight of the Machado dictatorship. After Machado fled, the Grau San Martin Government repudiated the loan as illegally contracted, and the Cuban Supreme Court is now pondering charges that the Machado Administration and Chase National Bank, which underwrote the issue, had "usurped authority and entered into bribery." Chairman Winthrop Aldrich of Chase indignantly denied such irregularity but since 1933 Cuba has paid nothing on either...
...weeks President Roosevelt has been pulled and hauled between two conflicting ideas on cotton loans. Secretary of Agriculture Wallace saw that the 12? loan policy, if extended, would mire the Government in surplus cotton, perhaps sink the AAA in financial failure. Therefore he argued stoutly against any continuation of the 12? loan. Southern Senators and Representatives, thinking only of political effects, yowled and yammered for another year of 12? cotton, warned the New Deal it would lose all its Southern friends if it did otherwise. An able compromiser, President Roosevelt finally approved the AAA plan announced last week. To guarantee...
...news, their outcry rose to a roar. "I am embarrassed and confused!" exclaimed Senator Ellison D. ("Cotton Ed") Smith of South Carolina. Another South Carolinian, Franklin Roosevelt's good friend James F. Byrnes, jumped in with an amendment to the Third Deficiency Bill requiring a 12? loan on cotton. To get enough votes to ensure victory the Cotton Senators teamed up with the Wheat Senators, helped jam into the bill a 90? Government loan on wheat. Such a rampant combination in the Senate wrecked the plan for Congressional adjournment Saturday night...
From the Administration standpoint the advantage of the 9? loan & subsidy plan was that it would allow the price of cotton to seek its natural level and thereby encourage cotton exports which have fallen off badly as a result of the pegged price. This long-range advantage did not appeal to Southern Senators. They bellyached mightily to the effect that a 9? loan sounded cheap and shoddy to their constituents who had learned to expect bigger and finer things from the generous New Deal. Unexpressed, but probably more potent, was the fact that Cotton Senators knew that cotton mills...