Word: wall
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Dates: during 1930-1939
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...Balance! Balance!" During the first week of the hearing Big Business ding-donged one idea into the Senators' ears: BALANCE THE BUDGET. Witness after witness from Wall Street could see no salvation for the country until the Government ruthlessly cut expenses, lived within its income. To this necessity they subordinated foreign debts, tariffs, jobless relief, railroads, public works and the large variety of panaceas put forward by more imaginative but less substantial citizens. Bernard Mannes Baruch had sounded the keynote the opening day: "Put Federal credit beyond peradventure of a doubt. . . . No nation ever dared to incur deficits...
...income-tax-paying class for more revenue. A vociferous foe of Republican protection, he is a red-hot supporter of President-elect Roosevelt's reciprocal tariff scheme. Under his chairmanship Industry can expect deep cuts in its protective rates but Agriculture will be kept well inside the wall. On War debts he is relatively open-minded, except in the case of France. Once, traveling in Europe, he was stopped at the French border and fined for trying to smuggle a box of cheap cigars. A Dry turned Wet, he expects to raise large sums from the legalization of liquor...
Meantime Michigan buzzed with conflicting reports of what brought its banking situation to a head. About a year ago it was an open secret that many Michigan banks were in deep water, but Wall Street and other financial centres believed that the wave of failures that closed 84 banks last year-third largest number of closings in any State-had washed the situation clean. It was known that big Union Guardian Trust Co. had been weakened by heavy commitments in stricken Detroit real estate, that deposits had been seeping away. And until Governor Comstock retracted his first "unvarnished story...
...company, but the percentage was small. We are very proud of our record." Banker Stuart suggested that complete financial details should be given in offering circulars, and that utility commissions should sell utility securities at public auction. Remarked worldly-wise Senator Couzens: "You better stay a long way from Wall Street for a long time after that...
Fair enough? Geneva's statesmen did not think so. Since the Lytton Report was drafted, they pointed out, Japan has recognized Manchukuo, has seized Shanhaikwan south of the Great Wall, has occupied parts of Jehol and launched a campaign to occupy the rest. If all those "circumstances" were to be considered by the League another Lytton Report would have to be made, and by the time it was finished there would be fresh "circumstances." Angrily the Committee of Nineteen proceeded to pop a big, blunt question back at the Japanese Government, would they or would they not agree...