Word: longterm
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...slammed his books shut, announced that the Authority was "broke but happy.'' Although there were only 46 local housing authorities when USHA set up shop, there are now 221 (in 31 States) qualified to take advantage of USHA's bargain terms-90% of the cost in longterm, low-interest loans-for slum clearance and low-rental housing programs. Not actually broke, USHA has signed $291,656,000 worth of contracts, earmarked $355,919,000 more, will keep the rest of its nest egg as a "safety margin" until fresh funds are forthcoming. Without directly asking...
...prices." Proudly last week the Gosplan pointed out to Dr. Bogen that repayment of the short-term debts incurred to finance the First Five-Year-Plan has now almost been completed; Bolshevik credit has been sufficiently established to finance additional imports of machinery from Britain, Germany and Czechoslovakia at longterm; and, since there is now less need for the Soviet Union to dump and sell frantically abroad, its exports are steadily dropping, have declined 60% since 1930. As a means of spreading Communist influence in Turkey, Persia, western China, Mongolia and certain other Far East areas, Moscow is now forcing...
...degree the reserves that member banks must by law maintain, so that it might apply brakes to any runaway credit inflation. The Glass Bill limits the possible upping of reserve requirements to double the present ratios. The Eccles draft would have made any & all bank assets, short-or longterm, liquid or frozen, eligible for rediscount. The Glass Bill provides for special Reserve Bank advances on ineligible paper in emergencies only. And thus throughout Title II Governor Eccles and Senator Glass both achieved their original aims, although delimited and adjusted to banking and political realities...
...also announced that on Oct. i it would reduce its longterm' interest rate from...
...interest which has been offered since the War were disposed of, and the question of how to meet the greater part of some $615,000,000 worth of Treasury notes which fell due on March 15, was settled. Some bankers felt that the Treasury was rash in making a longterm, low-interest offering, but the results proved the offer was well timed...