Word: billion
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Dates: during 1940-1949
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...while, in the first hopeful months of Marshall Plan aid, Congress was able to congratulate itself for carrying out the largest and most generous effort in the world's history. But now it seemed that those five billions would not be enough. Great Britain had got the lion's share of ECA help; now she wanted at least an extra half billion this year. There were official hints that a stabilizing fund was necessary to save the pound. No sooner was the North Atlantic Treaty ratified than there was a demand for a billion and a half...
There were signs, too, that U.S. consumers were spending again. The Federal Reserve Board reported that April had witnessed the end of the unraveling in textiles and some other nondurable goods. June installment buying hit an alltime record of $9.1 billion. And despite the increase in unemployment, the rate of personal income was still running above 1948. Some businessmen began to feel almost as cheerful as General Mills's Chairman Harry A. Bullis, who said last week: "We are on our way towards a soundly priced American prosperity that can be sustained...
...Luckman had encountered it. The talkers were not measuring the U.S. economy, but "their own fever chart"-using a special kind of emotional arithmetic, adding two and two to get zero. Luckman preferred to add U.S. employment of 59 million (still close to its alltime high), savings of $200 billion and a purchasing power 53% higher than prewar. "Too many . . . have accepted the jabber-jitter estimates of what is wrong with America, instead of finding out . . . what is right...
...Major General Herman Feldman, 59, who joined the Army as a private 42 years ago and climbed to the post of Quartermaster General, in charge of $1.8 billion a year in Army spending. Feldman was suspended, said Army Secretary Gordon Gray, because of indications that he "furnished a contractor's representative procurement information under circumstances which appear irregular...
...minutes' worth was bad news. Britain's dollars were going down the drain too fast; $261,950,000 had been used up from the end of March to the end of June. Only $1,636,180,000 was left-well below the $2 billion reserve the British had considered the minimum for safety...