Word: prohibitive
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What will be the effect of such regulation on the brokers themselves? In the first place, it will tend to cramp if not prohibit the speculative accounts which have been a major source of income to so many stock jobbers. By increasing the technicalities and narrowing the field and its allure, it will cause the business as a whole to simulate the present investment council houses. In other words, it means that the arrow-collar bond-salesman who carried his trade to Westchester weekends and Long Island country clubs has had his day. The brokers of tomorrow will be soberer...
...after the President's pronouncement against lawyer-lobbying. Michigan's eloquent Senator Vandenberg flipped out of his desk an antilobbying bill of his own design. The Vandenberg measure would: 1) prohibit National Committeemen of either party from practicing law before Government departments and 2) prevent any Government employe from soliciting funds for his party. The President shrewdly took the Republican bill under his large political wing, suggested that the first prohibition be expanded to include all Government has-beens...
...third and last important obstacle to newspaper code was the question of child labor. Almost all U. S. newspapers use newsboys, of which there are 570,000 in the U. S. All NRA codes signed so far prohibit child labor. Newspapers resent being told not to use newsboys. Last week, the Bronx Home News discharged 100 newsboys who had tried to organize a carriers' union...
...more than $50,000,000. This proposal sounded almost Capitalistic compared to what young Senator Gerald P. Nye, as bleak a personality as the plains of his North Dakota, told reporters he wanted to do. Far from permitting an individual to receive $1,000,000 in income, he would prohibit any man from accumulating more than $1,000,000 capital. "At the last session," said he, "I proposed a levy of 55% on fortunes of more than $1,000,000. My disposition now is to make the levy practically confiscatory...
...quite enough. He is likely to look behind the surface of this curt manifesto and to find there nothing but timidity. If it is a legal tangle that University Hall fears, then let it look to the law, and discover that there is nothing in it to prohibit the sort of thing in question. If, as is very likely, University Hall is clinging to tradition in the fear that dining hall decorum will be upset by the entrance of liquor, and in the fear that the name of Harvard University will thereby gather no grace, let it consider these ancient...