Word: ownership
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Dates: during 1930-1939
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That same afternoon at the White House newshawks popped a question at Franklin Roosevelt. Did he agree with Mr. Morgenthau that the Government should own the Federal Reserve? Nodding sagely the President of the U. S. remarked that Government ownership of the Reserve banks would solve a great many problems...
When Mr. Morgenthau admitted that he favored the ultimate step, Government ownership, the New Deal's aim was well on the way to achievement: Carter Glass, still resolutely holding Senate subcommittee hearings on the Banking Act of 1935, appeared to be only postponing the accomplishment of the New Deal's will. Said he ironically: "If the President and the Secretary of the Treasury and the Governor of the Federal Reserve Board want a Government-owned central bank, notwithstanding the consistent opposition of the Democratic Party since the time...
...Calthrop's "Air-Resisting Train" come into its own. With nearly one-third of the country's Class I rail mileage in bankruptcy, with two-thirds of the passenger traffic lost since 1929 to motorcars, busses, airlines, something had to be done. The bogey of government ownership, long the subject of dark predictions by Federal Transportation Co-Ordinator Eastman, loomed ominously close with the introduction of a bill in the Senate fortnight ago to have the U. S. take over in January...
Those who advocate complete State ownership of all property and means of production, said Mr. Douglas, "conceive of the State as something more intelligent, endowed to a greater extent with wisdom, than are the individuals which are but its integral parts. Though doubtless they would not concede it to be true, they must believe that the State can do no wrong. This, it seems to me, is an illusion, for the State is composed of its integral parts, the individuals acting through their representatives. The State is therefore subject, at least, to all of the fallacies, errors, ignorances and prejudices...
Transportation: "There is need for ... measures for the strengthening of the Interstate Commerce Commission to enable it to carry out a rounded conception of the national transportation system in which the benefits of private ownership are retained, while the public stake in these important services is protected by the public's government...