Word: suddenly
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...well qualified to discuss this question. For five years he served as Secretary of the Treasury under President McKinley and President Roosevelt, and during that time repeatedly proposed alternations in the banking laws that would make currency more elastic and better able to respond to the periodic fluctuations and sudden emergencies in the money market. Mr. Gage has also been president of the largest bank in Chicago, three times president of the American Bankers' Association, and is now president of the United States Trust Company in New York...
From an article by Mr. Gage in the current issue of Moody's Magazine, it appears that the United States currency system is built on an artificial and unscientific basis, by which credit, which governs 80 per cent of the world's trade, may be broken down before a sudden demand for cash. This the banks cannot satisfy on account of their obligation to deposit in the treasury of the United States bonds to the amount of the notes they propose to issue...
...brilliant recovery. Since then, he said, four great incidents have encouraged the economic and financial prosperity of the United States: the great failure of European harvests in 1897; the Spanish War, during which our sound credit enabled us to borrow $60,000,000 from European countries; the sudden increase of gold production; and the enactment of the Dingley tarriff...
...Athletic Association was organized to further sport, not as a business enterprise. We can better afford to discharge our debt and make the improvements a little more slowly than to injure any of our sports now by a too rigid economy; and there can be no doubt that the sudden withdrawal of support from the teams in question will injure if not entirely cripple them...
...paid in three years; after that, Soldiers Field can be very rapidly improved from the surplus of the next few years. The time is not many years off when the Association will again have money to invest if the surplus continues to accrue. Some contingency like the sudden decline of football might take away the athletic profits. But football seems in no immediate danger of collapse. If it should, then would be the time to take up subscriptions...