A Call for a Rollback of High Interest Rates: Hearing Before ... , 91-2 on House Concurrent Resolutions 522 and 523 and Related Resolutions ... , March 24, 1970 |
From inside the book
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Page 1
... businessmen , to whom credit is vital and who operate on smaller margins , ultimately pay the cost of interest rate increases ; and Whereas the high interest rate policy , continued over an extended period , has served to blunt the ...
... businessmen , to whom credit is vital and who operate on smaller margins , ultimately pay the cost of interest rate increases ; and Whereas the high interest rate policy , continued over an extended period , has served to blunt the ...
Page 6
... business- men are laying off employees because they are caught in a squeeze play between consumer purchasing power ... businessmen can go for credit . This is the factor that has led to a halt in the housing construction . This is the ...
... business- men are laying off employees because they are caught in a squeeze play between consumer purchasing power ... businessmen can go for credit . This is the factor that has led to a halt in the housing construction . This is the ...
Page 8
... businessmen must borrow in order to finance their in- ventory and often for their other expenses in their business . The high interest rates charged to these businessmen are added to the cost to the consumer . Now , this consumer has ...
... businessmen must borrow in order to finance their in- ventory and often for their other expenses in their business . The high interest rates charged to these businessmen are added to the cost to the consumer . Now , this consumer has ...
Page 45
... requirements and we have fallen behind ; the policy has trapped the farmer who must often borrow in the Spring in order to harvest in the Fall . 43-401-704 Small businessmen in hard , competitive fields are being crushed 45.
... requirements and we have fallen behind ; the policy has trapped the farmer who must often borrow in the Spring in order to harvest in the Fall . 43-401-704 Small businessmen in hard , competitive fields are being crushed 45.
Page 46
... businessmen in hard , competitive fields are being crushed . Competition falters , unemployment grows and only the money lenders and the financial giants prosper as this inflationary policy proceeds . The rationale for increasing ...
... businessmen in hard , competitive fields are being crushed . Competition falters , unemployment grows and only the money lenders and the financial giants prosper as this inflationary policy proceeds . The rationale for increasing ...
Common terms and phrases
administration's ALEXANDER amended American Arkansas average back interest rates bankers Banking and Currency BILL ALEXANDER bills borrow Brock Adams businessman cent Chairman PATMAN colleagues commercial construction consumer continue corporations cosponsor credit controls depression dollar ECCLES economic policy effect Eurodollars Federal Reserve Board Federal Reserve System fight inflation financing funds GALIFIANAKIS gentleman GIBBONS going Government gross national product halt high interest policy high interest rates higher House Concurrent Resolution income tax industry inflationary interest cost interest rate policy loan lower interest rates million mortgage NICK GALIFIANAKIS Nixon administration payments percent President prime interest rate prime rate problem production profits recession regulation REPRESENTATIVE IN CONGRESS REUSS roll back interest SAM GIBBONS sentence of section small business small businessmen ST GERMAIN statement subsection Thank thereof thing tight money tion Treasury unemployed unemployment WIDNALL withdrawable accounts Wright
Popular passages
Page 31 - Whenever it shall appear to the Commission that any person is engaged or about to engage in any acts or practices which constitute or will constitute a violation of the provisions...
Page 31 - USC 461, 462, and 462b) and inserting: "(a) The Board is authorized for the purposes of this section to define the terms used in this section, to determine what shall be deemed a payment of interest, and to prescribe such regulations as it may deem necessary to effectuate the purposes of this section and to prevent evasions thereof.
Page 34 - ... it may in its discretion bring an action, in the proper district court of the United States or the proper United States court of any territory or other place subject to the jurisdiction of the United States, to enjoin such acts or practices, and upon a proper showing a permanent or temporary injunction or restraining order shall be granted without bond.
Page 34 - States ; and he may require any su.ch person engaged in any such transaction to furnish, under oath, complete information relative thereto, including the production of any books of account, contracts, letters or other papers, in connection therewith in the custody or control of such person, either before or after such transaction is completed.
Page 34 - Whenever it appears to any person authorized by the President to exercise authority under this title that any individual or organization has engaged, is engaged, or is about to engage in any acts or practices...
Page 34 - ... (b) In the event of the failure of any person to pay any penalty assessed under this section, a civil action for the recovery thereof may, in the discretion of the Board, be brought in the name of the United States.
Page 31 - Each purchase of obligations by the Secretary of the Treasury under this subsection shall be upon such terms and conditions as to yield a return at a rate not less than a rate determined by the Secretary of the Treasury, taking into consideration the current average yield on outstanding marketable obligations of the United States of comparable maturities.
Page 1 - Resolved by the House of Representatives (the Senate concurring) , That it is the sense of the Congress that the following Code of Ethics should be adhered to by all Government employees, including officeholders: CODE OF ETHICS FOR GOVERNMENT SERVICE Any person in Government service should : 1.
Page 49 - A REPRESENTATIVE IN CONGRESS FROM THE STATE OF CALIFORNIA Mr. Chairman, I appreciate the opportunity to appear in support of HR 3609 and HR 3828, presently being considered by your subcommittee.
Page 34 - General to bring an action in the appropriate district court of the United States to enjoin such acts or practices, and upon a proper showing a temporary restraining order or a preliminary or permanent injunction shall be granted without bond. Any such court may also issue mandatory injunctions commanding any person to comply with any such order or regulation.