Word: moneys
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Dates: during 1920-1929
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...Wall Street, greatest of all money marts, silence is neither golden nor popular. The greater the tumult, the greater the profits of the traders, the more stocks and bonds are being sold and resold, the more money is being borrowed and relent. Last week, the powers of The Street prepared to ask New York's Board of Aldermen to still the noises of riveting, pile driving. But it was to spare their ears for the more important sounds of money-changing...
...credit resources. It could finance a building boom, a Florida boom, vast instalment selling, new highways, new factories. It had enough credit to support a continuous bull market, with stocks soaring week by week. Through the twelve Federal Reserve banks, together with their member banks, it could lend money to brokers at 3½ or 4%, swelling the credit available for speculation. Money was easy. Times were good for the traders...
...Money was never so easy as last September, when the bull market was in full swing. But in Europe the central banks were in trouble. Helpfully, the Federal Reserve sought to ease up still further on credit in the U. S., with the sound idea that higher interest rates abroad would attract much-needed funds. It ordered the Chicago bank to reduce its rediscount rate from 4 to 3½%. Chicago bankers, led by famed Melvin Alvah Traylor, head of the powerful First National Bank, dissented sharply, voiced grave warnings. Unheeding, the Federal Reserve forced its way, helped Europe weather...
...credit resources already strained by the movement of gold abroad, the Federal Reserve stopped buying government securities, started selling them, withdrawing loose money from the market, reducing its credit reserves still further...
...welcome, as to an aviator, Charles Younggreen superintends it with pride and efficiency; "Milwaukee's Grover Whalen" is a sobriquet of which he is proud. His house is a show place; his wife is a charming woman; he plays bad golf very well; he has lots of money and lots...