Word: morgenthau
(lookup in dictionary)
(lookup stats)
Dates: during 1940-1949
Sort By: most recent first
(reverse)
...said Secretary of the Treasury Henry Morgenthau, testifying last week on the price-control bill before the House Banking & Currency Committee. Reporters ran for the telephones. His words were news, even if taken at their face value as a demand that business confine itself to modest profits for the duration. They were far bigger news as the first gun of a campaign for a new type of tax bill that would shake the foundation of free enterprise...
...idea of making business give up all abnormal profits till war's end makes arguable sense in a national emergency.* Britain already has such a law. But the bill which Secretary Morgenthau now has his Treasury experts drawing for presentation to Congress is something that will upset the principles which make the U.S. economic system work...
...invested capital, he explained, he meant 6% of the "dollars put into the business"-his experts would take many pages of the Bill defining it in detail. As an idea, this was a complete giveaway of Henry Morgenthau's economic limitations. It could only have come from a man who knew nothing more of U.S. business than as a bondholder who ventures nothing and owns nothing but a paper right to collect interest on the risks, brains, skill and effort of other...
...have founded a business by much effort, skill and good management with a $5,000 investment. Another man, less able and less hardworking, may have got a similar business going only after sinking $10,000 into it. Both may now make equal profits; but under a proposal like Henry Morgenthau's, the abler, harder-working man would be allowed to keep only half as much profit as his less competent competitor...
...contract called for deliveries over "the next two or three years.'' A better timetable: after the war. Thus the contract was really just an indirect method of giving financial aid to Russia, which has unlimited natural wealth but none too much dollar exchange. From Treasury Secretary Henry Morgenthau Jr. came a similar move: he announced that he had advanced Russia $10,000,000 last month against future gold shipments...