Word: slacked
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...printed a parallel series of 1929 and 1937 headlines. In the Hoover tradition, but not the Hoover manner, the President let it be known that he hoped to end the decline not by Government spending but by doing all he could to persuade private capital to take up the slack caused by the curtailment of Government spending. This maneuver entailed a Recession from earlier New Deal fiscal policies...
...private capital to increase employment. . . . Private enterprise, with co-operation on the part of Government, can advance to higher levels of industrial activity than those reached earlier this year. . . . Such advance will assure balanced budgets. . . . If private enterprise does not respond, Government must take up the slack. ..." On the subject of taxes, the President in effect reiterated what his Secretary of the Treasury had said a few days earlier (see p. 16), in proposing to remove "unjust provisions." He also warned that "modifications adequate to encourage productive enterprises, especially for the smaller businesses, must not extend to the point...
Coupled with the fact that car production last week was fast returning to normal after the annual slack season which this year was concentrated chiefly in September,* such figures seemed ample reason for extreme good cheer among automobile-makers. Tending their new creations in Manhattan's vast Grand Central Palace (see p. 67), makers almost unanimously anticipated their best year, pooh-poohed Wall Street talk of a major Depression. But, though this week's show in Manhattan marks completion for manufacturers of the crucial business of launching new models, to an equally important segment of the automobile industry...
...Others: scanty new building, the annual slack season for automobile manufacture. *A day later the I.C.C. allowed railroads in the Southeastern territory to raise coach rates for passengers from 1½? to 2? a mile...
Japanese editors last week taunted that wealthy Chinese have been slack in buying Liberty Bonds, caused tortoise-spectacled Chinese Loan Chairman T. V. Soong to retort: "The sale of our bonds is in pleasing contrast to the situation in Japan where 'China Incident' Bonds are being forced down the throats of bankers whose portfolios are already overladen with Government bonds, thus creating a 'Red Ink Bonds Problem' and accelerating the collapse of Japan's economic currency structure." He added that in Shanghai alone $3,000,000 had been subscribed by wealthy Chinese in blocs...