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== References ==

www.thepeerage.com uses Wikipedia as a reference so would be a mirror site. [[User:Otr500|Otr500]] ([[User talk:Otr500|talk]]) 03:30, 8 January 2016 (UTC)

== External links modified ==

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I have just modified {{plural:3|one external link|3 external links}} on [[Andrew Mellon]]. Please take a moment to review [https://en.wikipedia.org/enwiki/w/index.php?diff=prev&oldid=744120628 my edit]. If you have any questions, or need the bot to ignore the links, or the page altogether, please visit [[User:Cyberpower678/FaQs#InternetArchiveBot|this simple FaQ]] for additional information. I made the following changes:
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*Added archive https://web.archive.org/web/20100527190720/http://www.ustreas.gov/education/history/secretaries/awmellon.shtml to http://www.ustreas.gov/education/history/secretaries/awmellon.shtml
*Added archive https://web.archive.org/web/20061127035203/http://www.mellon.org:80/about_foundation/history/andrew-w-mellon to http://www.mellon.org/about_foundation/history/andrew-w-mellon

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== Mellon Tax Plan ==

The article states, as if it were a matter of plain, established fact:

"As Mellon had postulated, reducing tax rates on the wealthy class encouraged wealthy individuals to invest more into projects that contributed to the infrastructural development of cities and neighborhoods within. In New York City during the 1920s, the social ramifications were realized as many neighborhoods sprang up and were settled by people of different ethnicities and income that has given the city the cultural diversity for which it is known today.[14]"

I don't believe this to be an undisputed fact, indeed, it could be argued--and has been--that Mellon's tax cut from 77% to 25%, in the boom times of an unregulated stock market and real estate market, helped feed the stock and real estate bubbles which exploded so catastrophically in 1929. The wealthy, having a lower marginal propensity to consume, were far more likely to speculate than consume. <!-- Template:Unsigned IP --><small class="autosigned">—&nbsp;Preceding [[Wikipedia:Signatures|unsigned]] comment added by [[Special:Contributions/198.188.255.75|198.188.255.75]] ([[User talk:198.188.255.75#top|talk]]) 21:58, 17 May 2017 (UTC)</small> <!--Autosigned by SineBot-->

== External links modified ==

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*Corrected formatting/usage for http://www.mellon.org/about_foundation/history/andrew-w-mellon
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== Liquidate quote ==

Why isn't his famous "Liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate" quote included? It's what he's most known for among people who are not professional historians... [[User:AnonMoos|AnonMoos]] ([[User talk:AnonMoos|talk]]) 05:45, 21 October 2018 (UTC)

:Added it back in. It's worth noting that the quote comes from Hoover's memoirs, so it's possible that Mellon never said it. But I think that, without clear evidence that Mellon never said it, the quote is notable enough that it should included. [[User:Orser67|Orser67]] ([[User talk:Orser67|talk]]) 18:27, 12 December 2018 (UTC)

::Thanks. Whether he said it in exactly that form or not, the quote reflects a current of thought that saw no problem with factories being closed, though some people wanted to work in the factories, and others wanted to buy what the factories made. In the early 1930s, an increasing number of people came to the opposite conclusion that if the only thing keeping the factories closed and economic activity unnaturally low was the capitalist and finance system, then it was time to abandon capitalism... [[User:AnonMoos|AnonMoos]] ([[User talk:AnonMoos|talk]]) 07:24, 31 December 2018 (UTC)

Latest revision as of 00:16, 31 December 2024