Summary Report of the Secretary of the Treasury, 1945

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Page 58 - To enable the Secretary of the Treasury to carry out the provisions of section 10, the Congress appropriated the sum of $2 billion out of the increment resulting from the reduction in the weight of the gold dollar.
Page 14 - ... from the production of civilian goods to the production of war goods.
Page 8 - Joint Committee on Fiscal Policy A. Joint Committee on the Budget or on Fiscal Policy has often been advocated to give overall consideration to revenues, appropriations, expenditures, and debt management by the Congress as a whole. It has been suggested that the Ways and Means and Appropriations Committees of the House, and the Finance and Appropriations Committees of the Senate could meet as one joint committee on fiscal policy to consider the overall aspects of the revenue and expenditure programs....
Page 11 - March of this year stressed in his general statement "the need of holding fast to the basic principle of our tax system, namely that taxes should be fair and nondiscriminatory and imposed in accordance with ability to pay.
Page 43 - Morgenthau (covering his entire tenure of office) : ... the time which the original purchaser of a security will hold it will depend, principally, upon his own future needs and convenience, and to a very minor extent upon the nominal maturity of the security. The indiscriminate issuance of long-term securities to all classes of investors would not insure their being held to maturity by their original purchasers, but would result merely in premature market...
Page 108 - Army officers; and be it further Resolved, That copies of this resolution be sent to the President of the United States, to the President of the Senate, to the Speaker of the...
Page 42 - ... large portion of the public debt should consist of short-term securities. This is a good thing for the investor, a good thing for the Government, and a good thing for the economy as a whole. It permits liquid funds to be shifted readily between currency and bank deposits; and permits bank deposits to be shifted readily from one bank to another, and from one section of the country to another, without strain on the money market. It likewise permits corporations and other businesses to apply their...
Page 17 - Provide for speed-up of refunds resulting from carrybacks of net operating losses and of unused excess profits credits. 5. Provide for speed-up of refunds resulting from the «computation of deductions for amortization of emergency facilities. These recommendations of the Joint Committee wer« Incorporated in a bill introduced in the House of Representatives Ъу Chairman Doughton on June IS, 19^5.
Page 87 - II, but the current structure is the product of the United Nations Monetary and Financial Conference at Bretton Woods, New Hampshire, in July 1944.
Page 57 - SI explains why substantially all countries of the world, with the exception of the United States, are now using the SI system.

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