Word: billion
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Dates: during 1950-1959
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...billion that the U.S. poured in since 1951 started a heady building boom, but the new factories have never had enough raw materials, were not sensibly geared to national needs, and were too expensive to run. Exports have fallen ominously behind imports, capital has fled to safe foreign banks, and since the government is too short of cash to buy raw materials, businessmen regularly resort to the black market. Last week, becoming a full-fledged member of the Organization for European Economic Cooperation, Spain vowed to change all that...
...prelates of the Chaldean, Syrian, Armenian and Greek Catholic churches in dazzling crimson, black and gold vestments. The crowded congregation was almost equally divided between Christians and Moslems; there was even one rabbi. In the Middle East, tense home of three great religions that command the faith of 1.3 billion people around the world, it was a rare moment. After listening to hymns, Kassem rose and said: "Brothers ... I call on each of you, of all communities and sects composing this noble Iraqi people, to lay aside feuds and grudges and to be armed with the spirit of cooperation...
...briefly drop a bit. After the drop they see a rise in output to an even higher level. Leading the way will be the 1960 auto model year that begins in October, and a capital-goods boom that is expected to run at the annual rate of $34 billion by the last quarter of this year...
HIGHEST INTEREST RATE since 1929 (4¾%) was offered by Treasury on two new, short-term issues, to attract public investors holding $5.7 billion in maturing securities with a 4% coupon...
FARM INCOME dropped in first half year by $1 billion from 1958 to annual rate of $12 billion, primarily because Government discontinued acreage-reserve payments...