Word: morass
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...income of a corporation which accumulates surpluses in excess of what the Government believes it "reasonably" needs. Month ago the Treasury Department launched a drive to collect such penalties from some 100 U. S. corporations (TIME, Oct. 29). The Treasury Department found itself in a morass of legal tangles arising from the difficulty of deciding what needs are ''reasonable." It was clear from last week's outpouring of extra dividends that many a corporation had decided to split swollen surpluses with its stockholders before Congress meets in January to tighten the revenue law's definitions...
...first address to the American people since last June, Mr. Roosevelt reviewed the nation's progress out of the economic morass...
...Even more strongly than a year ago the country is gripped by the moral and economic confusion from which the world is suffering. Despite the economic morass in which the country finds itself, additional taxation is impossible. Therefore expenditures must be still further reduced. . . . Results of our commercial treaties during the past year have not been entirely satisfactory. Since further prospects in this regard are worse rather than better, increasing attention must be paid to the development of home markets...
...news of the many competitions which face the undergraduate at Harvard a new and difficult problem is open to the newcomer who is eager to make good and have much about which to write home. To the average Freshman, a University as large as Harvard is a great morass in which to lose oneself ignominiously unless he starts out on the right foot and immediately tries for every competition for which he can force the time. From football managership to Lampoon Board he starts them all in an effort to make good in the first few months of college life...
...Hitler seized power Germany's trade balance had been favorable for three years and thus her vital imports were more than paid for by the proceeds of her exports. While this lasted the Fatherland could be considered economically afloat, no matter how deeply Germany might mire herself in the morass of moratoriums declared by blunt, bluff Dr. Hjalmar Schacht, President of the Reichsbank...