Word: morgenthau
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Dates: during 1940-1949
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...trying to finance the war without bringing on inflation, Treasury Secretary .Morgenthau has been forced to do part of it with mirrors. These mirrors were being used again last week in the Fifth War Loan...
Maypole Dance. To avoid credit inflation, Mr. Morgenthau ruled that not a nickel of his $16-billion Fifth War Loan could be sold to commercial banks. This rule has, to a considerable extent, been circumvented. A good part of the Fifth, like 20% of the previous War Loan, which was similarly restricted, is being financed by bank credit. This is easily done to get the cash with which to buy the current loan, insurance companies, savings banks and other investors "dump" Government securities by selling them to commercial banks. With the proceeds they buy bonds of the new issue. Naturally...
Most of the 200-man crew were saved -including the skipper, 33-year-old Lieut. Commander Douglas M. Swift, and his "exec," Lieut. Robert M. Morgenthau, 24-year-old son of the Secretary of the Treasury. Among the missing: Lieut. George E. Haines, 24, who swam-about with a life preserver, helping the injured. When rescue came, he was gone...
Civilian officials had already destroyed one last sign of U.S. sovereignty in the Philippines. They had burned the U.S. currency which had been transported from Manila banks. Washington, Lincoln, Grant, the Great Seal, the signature of Henry Morgenthau Jr., all had gone up in smoke. Now the last sign of sovereignty was to go. There was nothing more for men to hold...
...successor of the Keynes (British) and White (U.S.) plans for stabilizing postwar monetary exchange was last week announced to a sympathetic Congress by Secretary Morgenthau. This one is also only a plan- still to be formally drafted and not yet agreed to by any nation-but it is not one man's or one nation's idea. It was worked out by 100-odd experts of 34 nations. Its concrete proposals...