Word: wringers
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...revision of rate-making procedure, regulation of water transport, elimination of Federal barge lines, passage of the Long & Short Haul Bill, Government payment of full rates for its traffic on land-grant roads. Reiterating his opposition to a subsidy and his belief that many roads should "go through the wringer," Chairman Wheeler disbanded the conference with an announcement that while it would be possible to put through emergency legislation at this session of Congress, a long-range program was out of the question. This week Senator Wheeler confers with a group of Government officials. ¶ Considered three radically new activities...
...people decided that it would not put up with deflation-the price that capitalism has always had to pay for its periodic excesses. What the U. S. wanted was a President who would "do something." And doing something meant preventing the country from going through the wringer...
...problem. As the roads gloomily revealed that car-loadings last week were lower than for the same week in 1932 when Depression was at its blackest, the President called a Cabinet meeting where he was reported to have said that he would favor letting the roads go "through the wringer" to reduce top-heavy capitalizations were it not that large insurance companies and banks would suffer greatly. That afternoon he told his press conference that he had decided against the outright subsidy proposed last fortnight by Railway Labor's George Harrison. Subsidies are hard to stop, said the President...
...from Government ownership except consolidation into a single unified national system. How Labor will take the scaling down of duplicate services is not hard to imagine. Burton K. Wheeler, chairman of the Senate Interstate Commerce Committee, reiterated his favorite belief that "some of the roads must go through the wringer." How banks and insurance companies, who are heavily interested in rail securities, will like that is also easily predictable. To ICC Chairman Walter M. W. Splawn was attributed a proposal for a special railroad court to push through the reorganization of the 38 Class 1 U. S. railroads now apparently...
...Insurance Corp. That only twelve national bank's have failed since Mr. O'Connor took office-compared to 1,750 in the previous decade-was largely the result of the fact that banking was the only U. S. industry which was allowed to pass through the depression wringer. And the fact that deposits reached a record high was traceable in big measure to the Treasury's filling the country's banks full of Government paper...