Word: morgenthau
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Dates: during 1940-1949
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Treasury Secretary Henry Morgenthau, financial doctor to the Administration, was worried by the growth of public purchasing power accompanied by a dearth of things to buy (see p. 87). One of his keenest Treasury advisers, Dr. Carl Shoup of Columbia University, told him that U.S. citizens will have anywhere from $5,000,000,000 to $8,000,000,000 more money in their pockets next year, and fewer things to spend it on. The Office of Production Management now figures that the national income of the U.S. in 1942 will...
...Once in office, he started bucking Tammany, and before a year was out Tammany got him impeached. He was removed from office on charges of perjury and falsifying his campaign expenses. Among campaign contributions which he was charged with having failed to report were $1,000 from Henry Morgenthau (father of the Secretary of the Treasury) and $5,000 from Herbert H. Lehman, now Governor of New York...
...Only $1,200,000,000 of Mr. Morgenthau's bond issue was for sale to the public. Bearing 2½% interest, maturing in 25 to 31 years, it was designed to appeal to individuals rather than to banks, and thus to discourage an inflationary increase in bank credit. The issue was snapped up by hungry investors in a few hours. Another $204,425,400 will be exchanged for old bonds, bearing 1¼%, which mature in December. The remaining $100,000,000 will be reinvested in Government trust accounts...
...accord, which is designed to bring economic harmony between Mexico and the U.S., pave the way for a mutual-defense pact. In Washington last week suave, tall Eduardo Suarez, Mexico's Minister of Finance paid a series of polite calls, ending in the office of Treasury Secretary Henry Morgenthau. A few hours later, Mr. Morgenthau gave out the first official news of the impending agreement...
...weeks after he plumped for a 6% profits limit, Treasury Secretary Henry Morgenthau last week handed U.S. speculators and investors a $50,600,000 profit within an hour-and was glad...