Word: trumanism
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Dates: during 1950-1959
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...have always liked the gag that was circulated during Truman's Administration, to wit: George Washington couldn't tell a lie, Franklin Roosevelt couldn't tell the truth and Truman couldn't tell the difference. And now, the Democrats have decided to Adalai! Apparently the sly manipulations of Roosevelt, the scandals of the Truman Administration and the horsemeat outrages in Illinois when Stevenson was governor are considered by the Democrats to be of little or no consequence...
When Harry Truman's Chicago endorsement of Averell Harriman seemed to throw the nomination open again, some of Kefauver's supporters urged him to jump back into the contest. Kefauver refused; Phredonia's lessons were too strong in him. "I felt," he says, "that I had given my word." He worked hard and faithfully to switch his delegates to Stevenson -and his efforts helped give Stevenson a first-ballot nomination...
...Thomas McCabe as head of the Fed. A banker's banker, Martin has educated a whole new generation of Federal Reserve officials in the classic function of U.S. central banking: keeping money in balance with production with as little direct Government interference as possible. Says FRB Governor (and Truman crony) J. K. Vardaman: "Martin has a better mastery than any man I know of the intermingling of private enterprise and federal supervision in this mixing bowl of the system. He has done more than any man to ensure continuation of the system by Congress...
...which had been created as an independent agency to guard the nation's money, was clamoring to be unshackled from the Treasury, whose primary and distinct concern has always been to manage Government finances. By thus supporting the "easy money" policy of Harry Truman's Treasury Secretary, John Snyder, the Fed had, in fact, become an "engine of inflation...
...Stooge. Nevertheless, in 1951, when he was first appointed FRB chairman by Harry Truman, succeeding Thomas (Scot-tissue) McCabe, who resigned in midterm, Martin had a hard time convincing fellow Democrats at Senate confirmation hearings that he would not allow the FRB to be dominated by his longtime friend John Snyder. Martin's clincher: "I'm not going to be a stooge for Snyder. I have too much respect...