Word: 1930s
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Dates: during 1960-1969
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...with his first haul of New World treasure. The total includes all the known gold output since then-ignoring loss from wear, which is presumed to be slight-and an educated guess about recent but unreported Russian production. Despite the widespread departure from the gold standard during the early 1930s, demand for gold keeps climbing, and so does output. Last year the world's gold production reached 39.2 million oz., excluding Russia, compared with 24.2 million oz. a decade ago. South Africa alone accounts for 70% of that output...
Once, Negroes controlled Harlem's numbers racket. But, so the story goes, one Harlem policy banker was hit hard during the 1930s and went to Racketeer Dutch Schultz to borrow $5,000. So quickly did he pay it back that Schultz became interested, and before long the big-time mobsters moved in. Now Negroes complain that Italian and Jewish racketeers, protected by the police, control the game, and a Black Nationalist has drawn cheers by calling for "black control of the numbers...
...business leaders, alarmed at the city's skid, formed a nonprofit organization called Civic Progress, Inc. It backed Engineer Raymond Roche Tucker, for mayor. Back in the late 1930s, Tucker had come up with a plan to eliminate the city's then notorious smog cover by cutting down the amount of volatile fuel used by industry. He later was named chairman of the department of mechanical engineering at St. Louis' Washington University. Democrat Tucker gave up his $20,000-a-year job for the $10,000-a-year mayor's post...
...jets totaling $162 million. The airlines have usually picked up many pilots from the ranks of young officers who quit the Air Force after a few years; but with the switch to missiles, the military is training fewer pilots. Simultaneously, many of the pioneering pilots of the 1920s and 1930s are reaching the compulsory retirement age of 60. The Air Line Pilots Association figures that 1,400 older commercial pilots-10% of the nation's total-will get their wings clipped within the next decade. Says A.L.P.A.'s magazine: "Only a national emergency requiring the training of thousands...
Communists & Capitalists. Even the Communists are grudgingly coming around to recognizing the professional economists for the first time. The most influential one by far is Poland's Oskar Lange, who lived in the U.S. during the 1930s and 1940s, took U.S. citizenship but renounced it after the war, and is now a deputy chairman of the Polish Council of State. In a mildly heretical mood, Lange declared last month: "Marxist political economics originated as a criticism of capitalism. It was not concerned with details of running an economy." While many of the Western economists call for increased planning, Lange...