Word: reformations
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Dates: during 1930-1939
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...Passed a bill by Virginia's Glass to reform the Federal Reserve, and provide bank deposit insurance; sent it to conference...
...Government a good turn by paying no income tax in 1931 and 1932. Disclosure of their non-taxability before the Senate Banking & Currency Committee (see p. 51) started not only a hot dither of excitement in the Press (see p. 38). but also a tax reform movement by a startled Congress. Plugging the leak in the law promised to net the Treasury millions of dollars of additional revenue, spread the burden of Federal taxation more evenly over the land...
Many a newsreader looked for what the most respected commentator of all, Pundit Walter Lippmann, would have to say in the Herald Tribune. To him the Senate investigation pointed a large question, and a need for reform whichever way the question might be answered. The question: "Whether . . . there is a Money Trust directed by J. P. Morgan & Co.- or whether the business [of capital investment] is ... highly competitive and dangerously chaotic...
...have been led to believe, would be Laissez Faire. Until 1930, when stockbroking as a whole fell into public disrepute, the Exchange was content to make sure that its members were personally straight. Since that time it has given a good deal of thought and some lip service to Reform. President Richard Whitney from time to time made footling pleas that all companies listed on the Big Board issue in the interest of their shareholders honest, complete and accurate statements. Many an offending concern indifferently shrugged its shoulders, the plain implication being that Mr. Whitney would do well to mind...
...Received from committee and agreed to take up next a bank reform bill by Virginia's Glass...