Lamborn Sugar Resolution: Hearings Before ... 67-2, April 17 and 18, 1922

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1922 - 54 pages
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Page 39 - debts' includes those debts or claims which rest upon a merely equitable or honorary obligation, and which would not be recoverable in a court of law if existing against an individual. The nation, speaking broadly, owes a 'debt' to an individual when his claim grows out of general principles of right and justice, — when, in other words, it is based upon considerations of a moral or merely honorary nature, such as are binding on the conscience or the honor of an individual, although the debt could...
Page 40 - June, 1920, and until about March 3, 1921, I was in the employ of the United States in the Department of Justice as special assistant to the Attorney General, and engaged in the work of the Department of Justice of •supervising, directing, and effectuating the enforcement of the provisions of the Lever Food Control Act (act approved Aug. 10, 1917), and in carrying out the powers and authority conferred by the act upon the President, concerning foods and derivative...
Page 3 - Board (Inc.) to dispose of any of said sugar so imported remaining undisposed of, and to liquidate and adjust the entire transaction in such manner as may be deemed by said board to be equitable and proper in the premises, paying to the corporation and copartnership aforesaid such sums as may be found by said board to represent the actual loss sustained by them, or either of them, in said transaction...
Page 39 - What are the debts of the United States within the meaning of the constitutional provision (art. 1, sec. 8)? It is conceded, and, indeed, it can not be questioned, that the debts are not limited to those which are evidenced by some written obligation or to those which are otherwise of a strictly legal character. The term "debts" includes those debts or claims which rest upon a merely equitable or honorary obligation, and which would not be recoverable in a court of law if existing against an individual....
Page 20 - Mr. RIDDICK. In other words, you made a bad bargain in reference to this sugar, expecting there would probably be a loss, and yet you made no arrangements to take up that loss? Mr. LAMBORN. I beg your pardon. I do not know how I am going to make it clearer. We did not anticipate a loss. We believed before we went to that meeting and we believed subsequently that the market was too high, and as I have said, left to our own initiative, we would not have purchased that sugar, but when they not only...
Page 3 - ... committee met at 10 o'clock am, Hon. Gilbert N. Haugen (chairman), presiding. There were present: Mr. Haugen, Mr. McLaughlin of Michigan, Mr.
Page 53 - There is only one thing I would like to refer to, and that is the author's remark about 12 per cent, of lamps short-circuiting when they are first put on. The supply company I am connected with are supplying 200-volt lamps, and we have now supplied 40,000 lamps. Out of this number only 2-7 per cent, have gone wrong and given any trouble. I think that is a very different...
Page 39 - General acted ; nor is it possible to consider this subject as a legal matter apart from its equitable nature. The view that there is no legal liability is at best doubtful, and it must be kept in mind that as a legal, and especially as a practical matter, the equities which so strongly color the facts will distinctly tend to resolve doubtful legal questions in favor of the companies. These claims may indeed be termed debts of the United States, debts of that peculiar character which dictate relief...
Page 3 - Resolved by the Senate and House of Representatives of the United States of America in Congress assembled, That the President is authorized to require the United States Sugar Equalization Board (Incorporated) to...
Page 3 - Watson such gums as may be found by said board to represent the actual loss sustained by him in said transaction, and for this purpose the President is authorized to vote or use the stock of the corporation held by him, or otherwise exercise or use his control over the said United States Sugar...

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