Word: thoughts
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Dates: during 1940-1949
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...economists saw no reason why the U.S. should not cut its spending and put its house in order. They aimed their fire at the Government's multitude of overlapping lending bureaus which had put out more than $20 billions in loans and guarantees. By & large, the bankers thought that some of the agencies, notably RFC, are no longer justified and should be curtailed or eliminated entirely...
When U.S. railroads lost $560 million on their passenger business last year, it was obvious to railmen that something was wrong-and that something had to be done. The Eastern railroads, which had already had fare increases of 28% in about three years, thought that the answer lay in still higher fares. They asked the Interstate Commerce Commission for a 12½% boost. Last week they got it. But the increase apparently did not solve everything; the news that it had been granted merely started everyone asking again: "What's wrong with the railroads...
Feather Beds. The ICC's 6-to-4 decision split the commission itself wide open. Though ex-Chairman J. Haden Alldredge voted for the raise, he warned that the railroads "certainly may be pricing themselves out of the market." He thought that the roads would be smarter to cut their fares and go after more business, and cited the example of the Central of Georgia, the Missouri-Kansas-Texas, and the Southern Pacific, which had boosted traffic by doing just that...
...Stafford Cripps, who thought the British government had devalued the pound to rock bottom, brushed off the cheap pounds as insignificant. But exporters estimated that $60 million a year are being lost by Britain by use of the cheap pounds to pay for British exports. Britain had hoped to plug such leaks when she devalued in the first place...
Eying the dollar loss, some exchange experts thought that the pound might be in for more trouble, unless Britain removed her strict controls on its use. Warned the Wall Street Journal: "The pound is still a hobbled currency . . . The man who holds a pound sterling, with its limited usefulness, still wants to swap it for U.S. dollars or other money that is spendable anywhere any time . . . Under such circumstances, there is no 'rockbottom' price [for the pound...