Word: sumner
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Dates: during 1940-1949
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...merely admitting all nations to the organization for peace would not be enough. Needed in addition, Sumner Welles argued, was a firm foundation on two moral principles. Said...
Inflation Later. The week also produced a notable fog-clearing statement about postwar inflation. Harvard's distinguished pro-business economist, Sumner Slichter, in a special supplement to the autumn Harvard Business Review, explored the probabilities of a dangerous inflation after the war. He concluded: 1) the danger of the now-famed, and admittedly enormous, '"inflationary gap" has been grossly exaggerated; 2) the danger of an all-out postwar inflation is lessened by the fact that price control today has been "fair" rather than "perfect"; 3) the admittedly huge liquid funds in consumers' and corporations' pockets will...
...Sumner Slichter's study, liberally strewn with tables, footnotes and no-one-knows-for-sure warnings, was mainly an attempt to differentiate between "hot," "warm" and "cold" savings: i.e., to isolate that portion of the total gap between wartime income and expenditures that can really be expected to inflate prices. His cheerful conclusions came from the fact that his computations showed much larger "warm" and "cold"' savings (war bonds, reduction of short-term debt, etc.) than "hot" ones (cash and demand deposits)* He believes that the average U.S. citizen is going to want to hang...
Edward Stettinius. The President, reshuffling drastically all along the line, now definitely dumped out Sumner Welles, who had resigned weeks ago (TIME, Sept. 6). In a move that surprised many he replaced him with Edward Reilly Stettinius, 42, ex-vice president of General Motors, ex-chairman of U.S. Steel and now ex-Lend-Lease Administrator. Cordell Hull himself, said Washington wise men, had asked for the steelman who looks like a tall Charlie Chaplin...
...Dear Sumner" letter was published. The text of Welles's resignation was not released, a possible indication that it was too hot to handle. There was no hint of a new post for Welles. There was only Presidential politeness, and a regret that "the state of Mrs. Welles's health" made the resignation advisable. This refrigerated treatment, to the man who invented the Good Neighbor policy, by the man who adopted it, was unprecedented -and mysterious...