Word: bank
(lookup in dictionary)
(lookup stats)
Dates: during 1950-1959
Sort By: most recent first
(reverse)
Moving urgently to meet the ever-mounting crisis, Gaillard went into a huddle with his new Finance Minister, the M.R.P.'s Pierre Pflimlin, decided to borrow 250 billion francs from the Bank of France to pay civil servants and meet other obligations. Then Gaillard went to work on the Assembly with demands for special powers to enforce price controls by slapping heavy fines on price gougers, and to close the shops of merchants who refuse to comply. He also proposed an extra 100 billion francs in new taxes on such semi-luxury items as wine and autos...
Bolivia's President Siles once went on a hunger strike to fend off pressures to break his austerity pledge. Said he: "I will never sign a decree assisting inflation." Instead, he forced through a law prohibiting issuance of new currency by the Central Bank. Today, Bolivia seems on the way to sound money...
...buying of a comparatively little-known French financial wizard who rarely paid over $10,000 for a painting, rarely made a bad buy. Born in Paris plain Leon Georges Levy, he early attracted the attention of the Rothschild family, who started him off as a clerk in the Rothschild bank, used him as a broker for their interests when he went into business for himself. He was soon collecting art. Just before the fall of France, he sailed for the U.S. (where he changed his name to Lurcy), managed to smuggle out 38 paintings by way of Portugal...
Tough Medicine. To tighten money, Finance Minister Ichimada asked Japan's central bank to 1) hike its rediscount rate from 7.3% to 8.4%, 2) tighten up reserves of commercial banks to make loans harder to get, and 3) raise deposit requirements on import licenses from 5% to 35% of the shipment's total value, thus immediately tying up an estimated $40 million worth of importers' funds. As a result, imports dropped an average $25 million monthly, were actually slightly behind currency-earning exports for the month of October. Moreover, inflation at home lost some of its steam...
Under Columbia's plan, 40 percent of the amount needed by a student is given as an outright grant, provided by alumni, while the other 60 percent is loaned by the Bankers Trust Company. This year, the bank has loaned $37,500 to 63 students, while the alumni fund has provided...