Word: silver
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Dates: during 1930-1939
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...instance of a number of crackpots, speculators, inflationists, amateur economists and the Senators from six Western States, the U. S. embarked upon a silver-buying program. To date the most conspicuous result of the Administration's silver policy is that the Treasury in a little more than four years has purchased about 1400,000,000 oz. of a metal whose prime characteristic is its futility. And much of it was purchased at prices considerably above last week's quotation of 44¾ per oz., which is an entirely artificial figure since the U. S. has been buying most...
Last winter Secretary Morgenthau was asked whether he would stop subsidizing the Mexican silver mines in retaliation for prohibitive boosts in Mexican tariffs on U. S. goods. The reply: "We don't mix our silver and other matters...
...Morgenthau, knowing that silver and politics have been well-mixed for over half a century, was playing innocent-as he was last week when he refused to confirm the obvious fact that he was now mixing silver and oil. For the wording of his statement made it perfectly clear that he had withdrawn his subsidy in retaliation for President Cárdenas' seizure of $400,000,000 worth of foreign oil investments (TIME, March 28). The action had been taken, said the Secretary, "in view of the decision of the Government of the United States to re-examine certain...
...fairly evident. Waving tiny Mexican flags, 200,000 of them paraded in Mexico City to celebrate their "Declaration of Economic Independence," hail the departure of los Gringos from the oil fields. But if President Lazaro Cárdenas enjoyed the parade, he was not amused by the U. S. silver embargo. Seriously he proclaimed to his people: "We must draw together to meet an unexpected problem." Mexico is the world's biggest silver producer and its silver mines are even more important to its domestic economy than its oil fields. Thirteen percent of the Government's revenues have...
...design the medal to be presented for the first time at last year's dinner. The resulting medal, two and three quarters inches in diameter, with the club membership medal design on one side and a shield bearing the name of the recipient on the other, is embossed in silver...