Supplementary Bond Legislation ...: Hearing ... September 12, 19181918 - 39 pages |
From inside the book
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Page 4
... effect , if they should be found ex- pedient , I suggest for your consideration the present enactment of appropriate legislation . Last year I had the privilege of explaining to you and your colleagues on the Ways and Means Committee ...
... effect , if they should be found ex- pedient , I suggest for your consideration the present enactment of appropriate legislation . Last year I had the privilege of explaining to you and your colleagues on the Ways and Means Committee ...
Page 5
... effect on the market value of liberty bonds of the increased surtax rates , and at the same time would not be open to the very grave objection which exists against any unlimited or permanent exemp- tion , which would deprive the ...
... effect on the market value of liberty bonds of the increased surtax rates , and at the same time would not be open to the very grave objection which exists against any unlimited or permanent exemp- tion , which would deprive the ...
Page 24
... effect upon the market value of the Government's bonds , and therefore upon the Government's credit , it could very properly determine to provide an exemption by future legislation . The thing to be avoided is a situation where you have ...
... effect upon the market value of the Government's bonds , and therefore upon the Government's credit , it could very properly determine to provide an exemption by future legislation . The thing to be avoided is a situation where you have ...
Page 27
... effect to go on buying bonds at a reduced rate of interest , and we feel in the Treasury that it is wise and states- manlike to make such necessary adjustments as will result in sus- taining the market value of the Government's bonds ...
... effect to go on buying bonds at a reduced rate of interest , and we feel in the Treasury that it is wise and states- manlike to make such necessary adjustments as will result in sus- taining the market value of the Government's bonds ...
Page 29
... effect have been in operation for over a year in regard to Great Britain and France . Owing to various causes , it has but recently been possible to take effective action in regard to Italian rates . Assistance was extended to Canada ...
... effect have been in operation for over a year in regard to Great Britain and France . Owing to various causes , it has but recently been possible to take effective action in regard to Italian rates . Assistance was extended to Canada ...
Common terms and phrases
Argentina August August 20 authorized believe billion bond bill bondholders bonds and certificates borrow capital and surplus cent certificates of indebtedness CHAIRMAN CLAUDE KITCHIN Comptroller Currency earmark estimated exceed exchange exemption from surtaxes expenditures Federal reserve banks Federal reserve district FORDNEY fourth liberty loan fourth loan FRANKLIN GARNER gold Government bonds holders income and profits income taxes increase India issued in anticipation LEFFINGWELL liberty bonds liberty loan converted limit loan organization LONGWORTH maturity value means MOORE national war savings necessary notes secured Ohio payable payment pesetas profits taxes Quota RAINEY rate of interest Results of third rules and regulations savings committee savings organization Secretary McAdoo secured by liberty situation sold Spain STERLING subscribed surtax rates taxation taxpayer third Liberty loan tion Total TREADWAY Treasury certificates Treasury Department United States dollar Vanderlip war-savings certificates war-savings stamps wise
Popular passages
Page 38 - States, shall (except to the extent permitted by rules and regulations prescribed by the Comptroller of the Currency, with the approval of the Secretary of the Treasury) be subject under this section to a limitation of 15 per centum of such capital and surplus in addition to such 10 per centum of such capital and surplus.
Page 37 - But the discount of bills of exchange drawn in good faith against actually existing values, and the discount of commercial or business paper actually owned by the person negotiating the same, shall not be considered as money borrowed.
Page 18 - Any and all notes, debentures, bonds or other such obligations issued by the corporation shall be exempt both as to principal and Interest from all taxation (except surtaxes, estate, inheritance, and gift taxes) now or hereafter imposed by the United States, by any territory, dependency or possession thereof, or by any state, county, municipality or local taxing authority.
Page 19 - ... and war-profits taxes, now or hereafter imposed by the United States, upon the income or profits of individuals, partnerships, corporations, or associations. The interest on an amount of such bonds the principal of which does not exceed in the aggregate...
Page 18 - Corporation shall be exempt, both as to principal and interest, from all taxation now or hereafter imposed by the United States, any State, or any of the possessions of the United States...
Page 34 - That the President may investigate, regulate, or prohibit, under such rules and regulations as he may prescribe, by means of licenses or otherwise, any transactions in foreign exchange, export or ear-markings of gold or silver coin or bullion or currency...
Page 38 - That the total liabilities to any association, of any person, or of any company, corporation, or firm for money borrowed, including in the liabilities of a company or firm the liabilities of the several members thereof, shall at no time exceed one-tenth part of the amount of the capital stock of such association actually paid in...
Page 19 - General provisions. As fiscal agents of the United States, Federal Reserve Banks are authorized and requested to perform any necessary acts under this circular.
Page 6 - The idea that a special exemption should be granted to foreign investors in United States bonds first appeared in section 3 of the Fourth Liberty Bond Act of July 9, 1918, 40 Stat. 845. This provided : "SEC. 3. That notwithstanding the provisions of the Second Liberty Bond Act, as amended by the Third Liberty Bond Act, or of the War Finance Corporation Act, bonds and certificates of indebtedness of the United States payable in any foreign money or foreign moneys, and bonds of the War Finance Corporation...
Page 3 - JOSEPH W. FORDNEY, Michigan. J. HAMPTON MOORE, Pennsylvania. WILLIAM R. GREEN, Iowa. CHARLES H. SLOAN, Nebraska. NICHOLAS LONGWORTH, Ohio. GEORGE W. FAIRCHILD, New York. JOHN A. STERLING, Illinois. WHITMELL P. MARTIN, Louisiana. WILLIS C. HAWLEY, Oregon. ALLEN T. TREADWAY, Massachusetts.