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Both brokers and businessmen, however, took the promise of a "breathing spell" with a deal of salt. Some even remarked that, what with the New Deal legislation already enacted, there was precious little room for business to breathe anyway. ''Business and financial judgment may of course be wrong," said the sober Wall Street Journal, "but unmistakably the impression in such quarters was that Mr. Roosevelt favored a breathing spell for industry, not because industry needed it, but because it had become indispensable to Mr. Roosevelt and his Party...

Author: /time Magazine | Title: Business: Action & Reaction | 9/16/1935 | See Source »

Half a Kingdom. Fat Chaps held out to the acquisitive, Semitic Emperor a promise of at least $15,000,000 per year-triple Ethiopia's present revenue-if Power of Trinity would sign away for 75 years virtually all subsoil rights-precious metals and chemical substances as well as oil-in something more than half the Ethiopian Empire...

Author: /time Magazine | Title: ETHIOPIA: 12-to-8 Concession | 9/9/1935 | See Source »

...hand, but the issue before the Cabinet was primarily how to protect British investments in the Sudan and along the Blue Nile which is fed from Tana, Ethiopia's great lake. Tana is so placed among rocky crags that a little earnest dynamiting would divert its precious waters from the Blue Nile toward Ethiopian plains now dry but capable of becoming a second fruitful Egypt. The loss to British investors in the Sudan would be colossal, that to British prestige in Africa irretrievable. Last week sword-handy Britons of the more resolute school, such as General Sir Archibald Montgomery...

Author: /time Magazine | Title: GREAT BRITAIN: By Jingo! If You Do | 9/2/1935 | See Source »

Most Buddha relics are in Siam and in Japan's great shrine at Mt. Hiei. Buddhists attach no miracle-working powers to them. When Bishop Masuyama arrived in San Francisco on the Taiyo Maru, he and the precious bonelet were escorted by numerous Buddhists to their drab, unimposing Temple at Pine and Octavia Streets. All the Buddhists meditated quietly. Then the Bishop took Buddha's bone to his nearby home where, because of its great value, he planned to keep it until a suitable new temple might be built...

Author: /time Magazine | Title: Religion: Bone of Buddha | 9/2/1935 | See Source »

...kind. Senator Thomas of Oklahoma was incensed. That Secretary Morgenthau should let the market drop out from under the speculators, that he should build up a silver reserve as cheaply as possible instead of spending as much as possible in doing so, seemed treason to the most politically precious of metals. "I thought," said Senator Thomas, "that we had a silver policy. But we haven't any ? other than to buy silver at the lowest possible price." Next day Senator Thomas and his silver friend, Senator McCarran of Nevada, took their revenge. As the price of passing...

Author: /time Magazine | Title: THE CABINET: Something on Silver | 8/26/1935 | See Source »

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