Word: morgenthau
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Dates: during 1930-1939
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...ballyhooed the bill. Many Congressmen look upon it lovingly, sure that it would please their constituents. Therefore Speaker Rainey and Majority Leader Byrns viewed it with much alarm, believing that, given an opportunity, the House would certainly pass it, possibly repass it over a veto. Secretary of the Treasury Morgenthau in a lengthy criticism declared that the bill's costs ''out-weigh any benefits that the legislation could achieve...
Secretary Morgenthau last week counted up how many holders of called 4th Liberty Loan 4¼% bonds had accepted his offer to convert them into new 2¼% 10-12-year bonds (TIME, April 16). Delighted, he found that all but $208,000,000 had been converted of the $1,005,000,000 called and due. The Treasury's $4,600,000,000 stock of cash on hand could easily handle the relatively small cash demand. Mr. Morgenthau was in fact so delighted at the success of his conversion that he had an appetite for more: after consulting with...
...undertook the delicate job of gauging investors' appetites for the second serving, of judging how much interest-sauce was necessary to make it palatable, was last week something of a mystery. The official explanation was that Scientific-Farmer Morgenthau had had to bear most of the burden. Certainly he had been aided by good advice either from friends in Wall Street or from his new Mormon assistant, Marriner Stoddard Eccles, who lately came out of Utah (TIME, Jan. 22) with the wisdom of 43 years of age, with economic ideas like those of most New Dealers, and the record...
...Messrs. Morgenthau, Eccles et al. looked on the U S. investment appetite, found it whetted rather than satisfied since the first serving. They offered $400,000,000 on 22-month notes at 2½% interest-the same rate as offered in January on 13½ month notes. Their offering was oversubscribed more than three times. They also offered $400,000,000 of 3% notes payable in three years and got an oversubscription of five times. This was good news because it indicated that soon they might be able to return to long-term financing rather than keep on piling...
With his eye on the rest of his financing job Secretary Morgenthau rushed earnest advice to Representatives who were last week pondering a new tax bill: let them not consider taxing hitherto tax-free U. S. securities; let them not even publicly talk about such taxation; let them kill all such proposals quietly and effectively in committee. Otherwise Mr. Morgenthau might not be able to persuade the public to take his securities...