Thomas Amendment Agricultural Adjustment Act

-


senator elmer thomas seen here on left. standing claude m. hurst , john collier, members of senate indian affairs committee, , unassociated (directly) thomas amendment.


attached title iii act, thomas amendment became third horse in new deal s farm relief bill. drafted senator elmer thomas of oklahoma, amendment blended populist easy-money views theories of new economics. thomas wanted stabilized honest dollar, 1 fair debtor , creditor alike.


the amendment said whenever president desired currency expansion, must first authorize federal open market committee of federal reserve purchase $3 billion of federal obligations. should open market operations prove insufficient, president had several options. have u.s. treasury issue $3 billion in greenbacks, reduce gold content of dollar as 50 percent, or accept 100 million dollars in silver @ price not exceed fifty cents per ounce in payment of world war debts owed european nations.


the thomas amendment used sparingly. treasury received limited amounts of silver in payment war debts world war i. on 21 december 1933, roosevelt ratified london agreement on silver (adopted @ world economic , monetary conference in london on 20 july 1933). @ same time, roosevelt issued proclamation 2067, ordering united states mints buy entire domestic production of newly mined silver @ 64.5¢ per ounce. roosevelt s dramatic use of thomas amendment came on 31 january 1934, when decreased gold content of dollar 15 5/21 grains (0.98741 grams) .900 fine gold, or 59.06 per cent of previous fixed content (25 8/10 grains, or 1.6718 grams). however, wholesale prices still continued climb. possibly significant expansion brought on thomas amendment may have been growth of governmental power on monetary policy.


the impact of amendment reduce amount of silver being held private citizens (presumably hedge against inflation or collapse of financial system) , increase amount of circulating currency.








Comments

Post a Comment

Popular posts from this blog

File format Wavefront .obj file

-
1 file format 1.1 geometric vertex 1.2 parameter space vertices 1.3 face elements 1.3.1 vertex indices 1.3.2 vertex texture coordinate indices 1.3.3 vertex normal indices 1.3.4 vertex normal indices without texture coordinate indices 1.4 other geometry formats 1.5 referencing materials 1.6 relative , absolute indices file format lines beginning hash character (#) comments. # comment an obj file may contain vertex data, free-form curve/surface attributes, elements, free-form curve/surface body statements, connectivity between free-form surfaces, grouping , display/render attribute information. common elements geometric vertices, texture coordinates, vertex normals , polygonal faces: # list of geometric vertices, (x,y,z[,w]) coordinates, w optional , defaults 1.0. v 0.123 0.234 0.345 1.0 v ... ... # list of texture coordinates, in (u, v [,w]) coordinates, these vary between 0 , 1, w optional , defaults 0. vt 0.500 1 [0] vt ... ... # list of vertex normals in (x,y,z) for...
Read more

CEFR alignment Euroexam International

-
table 1 - euroexam cefr equivalence euroexam provides tests of communicative english language proficiency @ 5 of 6 levels of cefr, practical tool language professionals evaluate different linguistic competencies of ‘can do’ descriptors. euroexams written, marked, , results calibrated based on cefr levels. means euroexam c1 level pass equivalent other exam board’s c1 level pass, example ielts 6.5 no element less 5.5., or cambridge english language assessment s 180 or cae grade c. (see table 1) euroexams has been directly involved in number of cefr development projects, last of in 2016. euroexam employs combination of internal , independent research support claim of equivalence cefr , other major exams.
Read more

Books Soma Valliappan

-
1 books 1.1 hr, investment , management 1.2 columns 1.3 creative writing books hr, investment , management valliyappan’s first book, thittamiduvom vetriperuvom, dealt self-development, published in year 2002. first book did in market , continued authoring books such thottathellam ponnaagum, kaalam ungal kaladiyil etc. introduced many specialized subjects in management tamil readers. valliyappan’s alla alla panam, published in august 2004 kizhakku publishers (new horizon media), created new record of sorts in tamil publishing world. book sold ten thousand copies in first few months of launch, unheard of investment book in tamil. in 2010, book’s sale crossed 1 lakh mark. following phenomenal success of alla alla panam, (aap) introduced basics of stock market, went ahead , wrote 4 more books on different aspects of stock market , investment technical & fundamental analysis (aap-2), futures , options( aap-3), portfolio management (aap-4) , trading (aap-5). soon, valliyappan became name...
Read more