Word: morgenthau
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Dates: during 1940-1949
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Last week Secretary of the Treasury Henry Morgenthau turned up in London on an unannounced mission and was introduced to some 300 newspaper correspondents by Minister of Information Brendan Bracken, who jokingly compared his achievements in Government finance with those of Alexander Hamilton...
...many a U.S. banker it seemed that Mr. Bracken would have been smarter to compare Mr. Morgenthau to the late Andrew Mellon, whose astute Government financing was marred by the market flop of the famous Mellon issue of 3% bonds in 1931. For Mr. Morgenthau went to London just after he had had an equally outstanding failure...
...Immediately Secretary of the Treasury Morgenthau announced that he plans to ask Congress for another tax bill-to raise $6 billion more...
...wanted to swap a $25,000 bond for a kiss. Pert Frances Dee sold an embroidered negligee for $5,000 in Little Rock, Ark.; Greer Garson persuaded the 23,000 men, women and children in Bluefield, W.Va. to ante $450,000 in a single day. Beamed Treasury Secretary Morgenthau: "An outstanding success...
...back to Hollywood, the public will get tired of bond-selling stunts, bond sales will fall. In the year 1942 they will probably be 15-25% below the Treasury's fond $12-billion hope. And with war costs up to $5.5 billions monthly and still rising, even Henry Morgenthau weakened last month, admitted that to pay for the war and keep inflation under control the U.S. must "supplement the voluntary bond purchase program with . . . forced savings...