Word: excessive
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Dates: during 1930-1939
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...banker has been defined as a man who offers you an umbrella, then wants it back when it starts to rain. There has been plenty of rain this year in U. S. economic life and bank vaults are stuffed with umbrellas-$2,500,000,000 in excess reserves. Last week this familiar situation was attacked from a new angle by Chairman Marriner Stoddard Eccles of the Federal Reserve System. Mr. Eccles is a smalltown banker from Utah and so ardent a believer in New Deal theories of credit control that he has often been a White House spokesman on them...
Exemptions. Exceptions would be made for: 1) industries which have signed collective bargaining contracts guaranteeing certain wages for work not in excess of 1,000 hours over a period of 26 consecutive weeks, or guaranteeing an annual wage, where reasonable work weeks might be arranged within a yearly limit of 2,000 work hours; 2) seasonal industries whose employes might work up to 56 hr. per week: 3) agricultural workers and handlers of perishable foods...
...Treasury's recent credit policies, which helped bring on the Depression. A year ago when Government's prime concern was not Depression but a runaway boom, the Federal Reserve Board boosted bank reserve requirements. This cut down the total of potential credit in the form of excess bank reserves and made money a little more expensive to borrow. Last week the President told Congress it was now time to lower reserve requirements-which the Reserve Board did forthwith. Net effect of lowering reserve requirements was to increase excess reserves from...
...eventually give the Treasury $1,400,000,000 in cash. When this gold is spent-as gold certificates deposited to the Government's account in Federal Reserve Banks-it will add an equivalent amount to the nation's credit base. The unused part of that credit base (excess reserves) will then swell from $2,400,000,000, to which it was enlarged by lowering reserve requirements, to a record...
...Failure to deduct depreciation reserves in arriving at rate base values has permitted the Bell System to earn a return on amounts far in excess of the investment made by the owners." Rates should be based on the "prudent investment" theory espoused by Franklin Roosevelt...