Word: billion
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Dates: during 1950-1959
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...replace the heavy, obsolete M-1 rifle with the officially approved, fast-firing M-14, to replace the World War I .30-cal. machine gun with the new M60, or to come up with a tank to match the Russian T-54 now in the field. "For $5 billion worth of troop equipment," cracked one division commander last month, "I'd trade Huntsville away in a minute...
Still ahead, with Brown optimistic, are two major measures. One would raise $200 million in additional tax revenue (including $60 million more in income taxes) to help balance a $2 billion biennial budget. The other, equally basic: a development program calling for $1.13 billion initially to ease southern Califor nia's water shortage by piping in northern California water...
...tone of the Latin American speakers at last week's meeting verged on the desperate. Said Argentine President Arturo Frondizi: "The destiny of democracy is at stake." Cuba's Fidel Castro dramatically showed up and won cheers with a blatant demand for $30 billion over a ten-year period. "I realize this means a sacrifice for the U.S. taxpayer," he cried. "But they are so much richer than...
...Burdened? The U.S. has done much. Last year the lending power of the Export-Import Bank (which does 40% of its business in Latin America) was boosted from $5 billion to $7 billion. The U.S. agreed before last week's meeting to contribute a major share in the initial $1 billion capitalization of a new Inter-American Development Bank. But the U.S.'s Delegate Thomas Mann, Assistant Secretary of State for Economic Affairs, pointing to "the very heavy burden which the American taxpayer today bears in order to create a defensive shield...
Since the beginning of the year, U.S. business has invested some $130 million in Britain; total U.S. investment now stands at about $2.8 billion. Last week after Timken Roller Bearing Co. had offered $30.5 million for the outstanding British-held shares of British Timken Ltd., Laborite Harold Wilson rose in the House of Commons to ask whether the trend was not "cause for alarm or action." Calmly replied Chancellor of the Exchequer Derick Heathcoat Amory: "I should remind you that the amount of net investment we have made abroad enormously exceeds any net foreign investment made in this country over...