Word: moneyed
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Dates: during 1910-1919
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This is merely an index of how this nation is penny-wise and pound-foolish. New York city is having an epidemic of robberies such as it has not had for years. More than once recently a longshoremens strike has tied up ocean travel. New York has been spending money like the proverbial drunken sailor. Nor is New York alone in its extravagance. Our Congress is appropriating millions of the public's money with scarcely an inquiry to find out how those millions are to be spent. The interest on the war-debt is going to amount to a billion...
...this purpose $2,000,000 still remained unexpended and the War Council has decided that the best use for this money will be to apply it to the education of the thousands of ex-service men to whom the war has taught the necessity of a complete education, particularly along technical and mechanical lines...
...private affairs is a common practice, exercised with little or no check, while not infrequently officials have shamelessly accepted bribes in return for which they have sold the interests of their country. But', they continued, 'our troubles on this account, scandalous as they are, are greatly magnified when the money power of a foreign government or of some individual outsider is sent into the country to keep trouble brewing between the different factions in China. And in this manner we believe the financial backing of Japan has been used not infrequently since the establishment of the Republic by the revolution...
...Moreover we look to America to be the leader in the formation of an International Consortium which shall finance China. For three reasons the formation of such a partnership is essential to our welfare. First, in order to secure the large sums of money which are necessary to finance new railroads, and other forms of communication, to reform the monetary system of China, and to develop industrial and commercial enterprises. Secondly, to insure the expenditures of money so loaned to us upon the objects for which it is borrowed by the Chinese government...
...sure to arise if the former methods of financing China were followed in the immediate future. If a consortium of this nature can provide the funds and appoint a commission on which there shall be representatives of China as well as of the great powers which lend the money, China may reasonably expect thereby very great assistance in her momentous problem of securing international peace and the establishment of the country as an independent and wholesome member of the family of nations...