Word: mellons
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Dates: during 1920-1929
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ALEXANDER HAMILTON was Secretary of the Treasury, and not Andrew W. Mellon. ELIHU ROOT was Secretary of War, and not Jefferson Davis, Ulysses S. Grant, William H. Taft or Newton D. Baker...
...cents gold (see FOREIGN NEWS), there remain unfixed on a gold basis only the currencies of France, Norway and Spain among the more important European countries. Norwegian finances are rapidly approaching a stage where the gold basis of money exchange can be reset up; and Secretary of the Treasury Mellon has just stated that he expected France and Spain to imitate Italy's money program...
...Cutting. Secretary of the Treasury Mellon had said that the people's taxes could be cut only $225,000,000 with safety in the next two years. The Ways & Means Committee had raised this figure to $232,735,000 in a Revenue Act it reported last fortnight (TIME, Dec. 19). Last week, when they altered and passed the Revenue Act, the Representatives overrode the Ways & Means Committee at two points and voted to cut the people's taxes by $289,735,000. The first alteration, reducing tax revenues some 24 millions, aimed to benefit corporations with incomes...
...Means Committee conferred anxiously with his Republican colleagues at the majority-party floor desk. They asked to have the Revenue Act sent back to the Ways & Means Committee for conference. The House refused, 300 to 94. Last-minute news from the White House, that President Coolidge insisted on Secretary Mellon's lower tax-cut figure, availed nothing. When the vote on passage was taken, there remained only 24 "Nays" at Chairman Green's command. "And so," as the Congressional Record says at such times, "the bill was passed...
...Gold Pieces. Christmas week, and again not enough $2.50 gold pieces to pass around for presents! Bank tellers apologized to their depositors. What could they do? The National Association of Mutual Savings Banks had sent a letter to Secretary Mellon personally, demanding $2.50 gold pieces for Christmas. He had not complied. Did you want to see a copy of that letter...