Word: mellons
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Dates: during 1930-1939
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...years Secretary of the Treasury Andrew William Mellon has had fair fiscal weather. Ample taxes from a busy, thriving nation piled up whacking big surpluses for him to administer. Under the sun of Prosperity, the Public Debt melted like a snowman in May. A happy man devoted to his job, Secretary Mellon was kept awake at night by no great problems of government finance. Because his department operates one year behind current business conditions (though the Government's spending is planned a half-year ahead), the stock-crash of 1929 was only a far-off warning of coming trouble...
...size of the deficit is shocking to me. . . . No [tax] action will be necessary for some time, however, because the Treasury's requirements may be met by short-time certificates which will be taken up like hot cakes, due to the country's confidence in Andrew W. Mellon. . . . There will be a great demand for increased surtaxes for that always is a popular thing." Speaker Longworth reflected his party's great yearning for good times when he said: "I am hoping that reports of a gradual return of prosperity will be followed by a big upturn before...
...Last week Secretary Mellon did more short-term financing by selling $100,000,000 worth of 90-day Treasury bills. This sum was to be used for Bonus loans. According to Administrator Hines of Veterans' Affairs, 1,571,291 veterans have applied for these loans and to them more than 500,000 checks, averaging $377 each, have been mailed out. Bonus applications after the first rush had started to taper off; it appeared that total advances may be kept below...
Richard King Mellon was elected a director of Aviation Corp. of the Americas...
Awarded. Jointly to Secretary of the Treasury Andrew William Mellon on his 76th birthday (Mar. 24) and his brother Banker Richard Beatty Mellon within his 73rd birthday week (Mar. 19) : the medal of the American Institute of Chemists; for establishing and maintaining the Mellon Institute of Industrial Research in Pittsburgh and for helping create the National Institute of Health under the Treasury Department...