Understanding the National Credit Corporation’s $500 million role
In plain terms the National Credit Corporation provides emergency cash to banks using frozen assets as security. Member banks may draw up to a limit, repayable in a year at 6 percent. If a member defaults, other banks cover the loss proportionally, giving banks a built in insurance and steady access to cash during trouble.
MENTIONED IN THIS ARTICLE
National Credit Corporation
Federal Reserve Bank
Chicago
Government expenses and the tax burden on citizens
An editorial argues that all government levels fund spending through taxes and bonds. It warns that new bills and public projects cost money, requires reserves, and shifts the burden to taxpayers. The piece urges citizens to demand private sector style discipline in public affairs now.
MENTIONED IN THIS ARTICLE
Washington
Congress
Legislature of
Illinois
J. HG
City Hall fund debated for salary payments
E R Daley urges using the $100000 city hall building fund to pay salaries at regular intervals, while Robert A Cameron argues the fund should stay for its original purpose and other funds should cover payroll.
MENTIONED IN THIS ARTICLE
E. R. Daley
Robert A. Cameron
Sam Hanson Urges Use of Building Fund for Pay
Sam Hanson, a railroad employee, argues the building fund should be used to pay workers currently back in wages. He contends workers cannot survive without timely pay and warns creditors may tire of extending credit if pay remains uncertain.
MENTIONED IN THIS ARTICLE
Sam Hanson
Railroad
City Hall Funds Sought to Pay Delayed City Workers
Citizens Joseph McGarry and Ted Clark urge using city hall funds to cover overdue salaries. McGarry suggests an ordinance diverting money for salaries, while Clark argues a $100,000 reserve should be distributed to employees behind on pay.
MENTIONED IN THIS ARTICLE
Joseph McGarry
Hickory Street
Ted Clark
East Washington Street
What Our Readers Think Letters on city care and services
A collection of reader opinions praising Pilcher Arboretum caretaker Mr Maxwell and the park’s hospitality. Citizens commend the mayor council and Commissioner Shepley for budget choices and garbage service. They urge timely city payrolls and note police department efficiency amid financial strain. A motorist suggests enforcing railroad viaduct parking rules.
MENTIONED IN THIS ARTICLE
the Spectator
Fornango
East Side
Jefferson Street
Illinois Current Events in Naval Circles
Illini rumors suggest changing the naval anthem to Row row row while reports claim synthetic rubber has been produced after years of effort. Police raid Capone's arsenal as calls grow for broader armament talks amid wider wartime concerns.
MENTIONED IN THIS ARTICLE
Capone
Also Mentioned on This Page
Joliet
Oliver
Sue
Mr. Maxwell
Pilcher
Aboretum
Robert Wraith
William Sampson
Joliet Police Department
R. C
Kentuck
Ohio
Iowa
University of Chicago
Illinois State Jounal
Springfield
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