Word: nationalized
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Dates: during 1930-1939
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...drink and smoke informally with His Majesty eight Laborite and Liberal leaders who had never before met the King. Some thought that Earl Baldwin, privately vehemently critical of the Chamberlain Government, was hatching a palace plot against the Prime Minister. Better explanation: the King, symbol of the nation, was simply making friends with men who might be needed in a crisis. This could be gracefully done under the sponsorship of an elder statesman no longer in active politics. No newspaper printed the diners' names, Buckingham Palace having passed the word down that they should be omitted from news stories...
...offended large sections of the U. S. population, has repeatedly been rebuked by leading U. S. prelates. But he has never been silenced by the Roman Catholic Church, which possesses crushing machinery to deal with heretical or inconvenient priests. Lately Father Coughlin has been abusing Jews. Last week the nation's most popular and liberal Cardinal, Chicago's George William Mundelein, fresh from a visit to the Vatican, issued a statement over the radio that "Father Coughlin is not authorized to speak for the Catholic Church, nor does he represent the doctrine or sentiments of the Church." Retorted...
...Hazelett is a taciturn man with a small metal works and a large mission. His Hazelett Metals Co. of Greenwich, Conn. licenses a process and sells machinery for making molten metal directly into sheets (instead of rolling sheets from ingots). His mission is promoting the doctrine that all the nation's economic ills can be cured by incentive taxation...
Last week the Senate committee heard Mr. Hazelett's views, which are extremely simple: "Only way to prevent depressions, balance the budget, insure maximum employment and raise the standard of living is to increase the nation's production of wealth; therefore, taxes should be graduated to penalize companies which do not operate at full capacity, banks which do not employ their funds, landowners who do not use their land...
Such a program, according to Mr. Hazelett, would not result in overproduction, provided prices and wages were not fixed but were allowed to reach the highest possible levels "consistent with maximum production." He believes that putting all the nation's productive facilities to work would automatically create enough demand to consume the increased output. In short, he agrees with the famed Brookings Institution concept that real prosperity is a result of increasing production and lowering prices, and he suggests taxation as a method of putting the theory into effect...