Word: trusted
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Dates: during 1960-1960
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...guys in presidential politics, went over bigger than usual one night last week at Manhattan's Morosco Thea ter. Like the moment in the first act when Trumanesque "ex-President Hock-stader" assured a prospective presidential nominee: "And for another thing, you're a millionaire. People trust you rich boys. They figure you've got so much money of your own you won't go stealin' theirs." Or when fat "Senator Carlin" cracked...
...currency in circulation) to be backed by gold? Last week one of the most prominent voices in the financial world declared that the 15-year-old reserve requirement, long considered the soul of economic orthodoxy, has outlived its usefulness. Said Henry Clay Alexander, chairman of the Morgan Guaranty Trust Co., addressing the annual meeting of the Investment Bankers Association in Hollywood Fla.: "Repeal of the 25% gold-backing provision would be a logical step in the further improvement of our international monetary framework." Alexander's proposal came when the flight of gold from the U.S., caused by a worsening...
...effects it might have at the present time not with the idea's basic soundness. It already has some influential backers. The International Monetary Fund in 1958 recognized the advantages of reducing or eliminating the gold reserve requirement and Roy Reierson, vice president of Manhattan's Bankers Trust Co., proposed abolition of the requirement last year. The reason for questioning the reserve requirement is that it has not proved necessary. It was set up to guard against wildly inflationary printing-press money, a danger that the Government's prudent money managers have shown themselves capable of preventing...
Kirby does no jumping. He inherited some $50 million from his father, put most of it into blue chips and let his profits rise. He is the largest single stockholder in the Woolworth Co., in the New York Central, in Manhattan's Manufacturers Trust Co. as well as in Alleghany. Alleghany not only controls the Central and I.D.S. but also owns 51% of the Class B stock of the Missouri Pacific Railroad...
This is not to say that no problem exists, no conflict between expert and voter; obviously advances in technology have given all secret scientific decisions a kind of grisly finality, and the problem of trusting those who make them has assumed greater poignance than it had before. Snow, however, does not deal at all with questions of trust and responsibility, or the relationships between closed and open politics...