Word: newe
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Dates: during 1930-1939
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Lunching with Manhattan's Bond Club, Under Secretary of the Treasury John Hanes stood up and predicted an era of business expansion soundly based on the investment of new capital in utility and industrial plants with or without war. Said he: "We were on the road to economic recovery prior to Poland." This naturally warmed the hearts of his hearers and encouraged them in expansion...
Meantime from the mimeographs of the Department of Commerce issued a statement signed by Secretary Harry, and written under the auspices of his new Bureau of Industrial Economics. Its No. 1 sparkplug: 37-year-old Harvardman Dick Gilbert. It said (Mr. Hanes notwithstanding...
...business was more than half political. Under Secretary Hanes spoke for the Pollyanna wing of the Administration, which is not at all anxious to throw any stumbling blocks in the way of recovery that the Government does not have to pay for. Secretary Hopkins and ghostwriters spoke for the New Deal wing, which has no real faith that Business ever will produce prosperity and wants to be on record against the day when the boom collapses and more appropriations will be asked from Congress...
...feast & famine industry is heavy engineering construction. Ordinarily it does not get started until the rest of U. S. industry is already going full blast, until corporations need new factories and feel flush enough to buy them. This year U. S. industry started its war boom only in September, but last week it found that it had already carried the construction industry along with...
...September 1938. One curious brake on this big advance is contractors' fear that war, if it lasts more than a year, may more than double costs, as it did last time. So they are afraid to bid for jobs taking two years or so to finish. Thus, in New York City last fortnight, only one bid was offered for a whopping new Criminal Courts Building, and it was nearly $1,000,000 above the city's $8,700,000 estimate, which is usually above the successful bid. At Cleveland, two publicly financed bridge projects drew no bids...