Word: bank
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Dates: during 1950-1959
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Anderson's first quiet triumph was a close relationship between the Administration and the jealously independent Federal Reserve System, which controls U.S. bank-credit levels and was once openly at war with Harry Truman's Treasury Department, and continued to keep aloof in George Humphrey's day. Anderson persuaded Fed Chairman William McChesney Martin Jr. to drop around for informal sessions with the President, Anderson, Raymond Saulnier, Chairman of the President's Council of Economic Advisers, and Presidential Adviser Gabriel Hauge. Thus, without binding Bill Martin, the Administration had its first regular forum for voicing...
...Colombia's $103 million, $78 million came from the Export-Import Bank, the rest from 13 private banks. Announced purpose of the loan was "to assist in maintaining Colombia's essential imports from the U.S." Colombia is suffering from a 3,000,000-bag coffee surplus. Without the dollars the coffee could bring in, the country can hardly keep up with its current U.S. commercial debts. The choice, outlined in April by Colombian Foreign Affairs Minister Carlos Sanz de Santamaria: either the U.S. could grant a loan or Colombia would have to risk wrecking world coffee prices...
Approval of Chile's $25 million came so rapidly that details-including formal signing of the loan agreement-have yet to be ironed out. The Export-Import Bank will probably put up $15 million; the rest will most likely come from Mutual Security Agency coffers. Even the use to which the money will be put is not certain, but basically the loan's function will be to provide a dollar prop for Chile's sagging peso, hard hit by a world slump in copper prices. Last week the peso was so shaky (off from...
...meticulously recorded, once because a reigning actress, Mlle George, was so frightened by what she described as Bonaparte's epileptic seizure that she brought the whole palace running to their bed. An endless procession of soubrettes glided through Napoleon's boudoir (and left with bodices stuffed with bank notes). Scholar Savant is ready to take the word of contemporaries that the procession included the Emperor's sisters and stepdaughter...
...engineering, drifted from job to job, began to find his medium in 1926 with wire sculptures. He created out of wire a whole circus, complete with leaping trapeze artists, jumping kangaroos and horse-hurdling bareback riders. Their mobility, controlled by springs and a master crank, charmed a Paris Left Bank audience that included Jean Cocteau, Pablo Picasso, Fernand Leger and Joan Miro. The mobile was being born...