Word: morgenthau
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Dates: during 1940-1949
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...Therefore the next fiscal year's outlay will be at least $27,000,000,000. The Treasury is now hoping for tax receipts of $9,000,000,000-which would leave a mere $18,000,000,000 to be found somewhere. Treasury Secretary Henry Morgenthau Jr. has announced that he hopes to raise two-thirds of the required money by taxation and only one-third by borrowing (see p. 74). To raise two-thirds of the needed amount by taxation, tax collections would have to be exactly doubled. Mr. Morgenthau, who used to suffer from sick headaches, last week...
Through one long day the President held council with Secretaries Cordell Hull and Henry Stimson, Under Secretary of the Navy James Forrestal, General Marshall. Admiral Stark. The conference began in the morning, broke off for lunch and new business, began again, with Secretary Morgenthau and Harry Hopkins added, in the late afternoon. It went over, point by point, the final inventories of British war needs and available U. S. supplies-the long-range bombers, ships, field guns, machine guns, ammunition (estimated total cost: $500,000,000) that could be shipped as soon as the Lend-Lease Bill was signed. Beyond...
...bill raising the Federal debt limit from $49,000,000,000 to $65,000,000,000, and authorizing for the first time in U. S. history the issuance of fully taxable Federal securities. The last taxexempt, due in 1965, will probably be called by 1960. Treasury Secretary Henry Morgenthau Jr. planned to sell a defense issue of postal-savings stamps, at prices from 10, 25, 50? to $1, convertible into Federal bonds at $18.75. Baby bonds become taxable on March...
...Secretary Morgenthau set a precedent in December with the new $500,000,000 U. S. note issue...
Like an air-raid siren through all the testimony sounded the need for haste. The British were running out of cash, declared the Treasury's Morgenthau. Since December all major British contracts had been held up. U. S. aircraft manufacturers would run out of British orders in April, unless Britain could issue new ones right away...