Word: funding
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Dates: during 1930-1939
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...Continuation of the stabilization fund (created in 1934 out of a $2-billion paper "profit" from the devaluation of the dollar) which is used to protect the exchange value of the dollar from violent fluctuations during crises...
...Senate clock's hands met. "I note now that it is Saturday morning," purred Senator Tydings. The President's dollar power was gone, and with it the Stabilization Fund, the higher price for silver...
...Clark and Colorado's Adams, accused the Senate conferees of not trying hard enough to defend the Senate's stand against the President's dollar power. Senator Townsend opened for the Republicans and then Senator Vandenberg asked all factions, who were agreed on the Stabilization Fund's desirability, to pass a separate resolution to preserve it. This suggestion got nowhere. But it and other speeches took up time. In reply to Mr. Roosevelt's outburst at Hyde Park, Mr. Vandenberg said: "I wonder if our distinguished Executive realized precisely what he was saying . . . that when...
...dollar. If the Secretary should choose to pay $40 an oz. for gold instead of $35 he would in effect devalue the dollar. If he should choose to change the price daily or hourly he could use the power for much the same purpose as the Stabilization Fund. Therefore when the money bill failed to pass, the Administration was placed in no serious hole, nor did Congress recover any notable power previously delegated. The real issue between the President and Congress was: Who is boss...
...September 19 California will put into effect its "Jackie Coogan Law,'' by which the courts will set aside half the cinema earnings of minors in a trust fund protected from their parents. Approved last week by Superior Judge Emmett H. Wilson was the first contract written to conform with the act, between Universal Pictures and 16-year-old Deanna Durbin. Cinemactress Durbin's earnings in the next five years will total...