Treasury Guided Nation Over Many 1936 Pitfalls
Treasury faced a year of rapid policy shifts as fiscal fears, wartime needs, and relief outlays shaped 1938. Morgenthau pushed economy, while spending advocates and Roosevelt moved to new deals and a larger relief program amid international tensions. Debt expanded with new bonds and notes, and gold inflows pressured inflation controls as defences and budgets shifted through the year.
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New Deal Showdown Defines 1938 Congress Battle
The 1938 session faces a clash between Roosevelt’s new deal and conservative opposition. House and Senate battles over reorganization, TVA planning bodies, war powers, and tax reform defined a year of defeats and selective victories. Roosevelt won wage hour reform and a halted referendum on war powers amid vast legislative strife.
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Huge 1998 deficit for US railroads noted in year end survey
Chicago December 31 1939 a survey shows the railroad industry faced a 16000000000 deficit for 1838 after fixed charges payment, while wage disputes and a threatened strike provoked government intervention. Administration promises legislative aid next session to aid the industry.
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Washington
Josset
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Giapute
Railroads Preach Wage Cut Amid Cost Pressure
In Chicago on November 4 railroad leaders urged Congress to enact wage reductions to restore operating economies. Workers groups opposed the cuts, warning of broader business harm. The industry forecasts a sharp revenue drop from 1997 levels, with total gross revenues around 3.5 billion and a 150 million deficit for 1838 after expenses, taxes, and rentals.
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Chicago
J.J. Pelley
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