Word: boom
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Dates: during 1950-1959
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...trouble was economic. The British public was bewildered and resentful. Only two years ago the Tories were boasting of a boom. Last fall Chancellor of the Exchequer Rab Butler had put on an "amber light"-nothing to worry about, just a little caution needed. Last week, though no Tory minister dared use the term, the word on the tip of their tongues was "crisis...
Coffee-vending machines have also had a spectacular postwar boom, particularly in big offices and plants where workers take staggered coffee breaks. Though many workers still object to the taste of coin-machine brews, a Dallas company recently started selling a $2,000 machine that stores fresh coffee at 185° in heated Thermos jugs. The dispenser is so successful that Mobile Kitchens, Inc. installed 62 in Washington, D.C. last year, and is putting in new machines at the rate...
...shining exception to Europe's spendthrift ways is The Netherlands. While the thrifty Dutch enjoy their boom, they are keeping it well in check. Real wages moved up 20% over the last two years. As national production climbed (up 12% last year to $7 billion), Holland cut taxes twice to step up capital investments and increase production. Not only has Holland dropped import controls on more than 92% of its foreign trade, it has built up a dollar reserve of $1.3 billion. Despite the heavy burden of war indemnities and flood damage, Holland in six years chopped its national...
Died. Hugh Montague Trenchard, Viscount Trenchard, 83, longtime philosopher of air warfare, first Marshal (1927) and principal founder of the R.A.F. chief (1931-35) of London's Metropolitan Police; after long illness: in London. During World War I "Boom" Trenchard commanded the Royal Flying Corps in France, was the most vigorous advocate of the use of air power to break through the trench-fought stalemate...
...sympathetic" to any such request. He considered holding hearings on direct consumer credit controls such as the wartime Regulation W, which specified minimum down payments and maximum loan terms. Allan Sproul, president of the Federal Reserve Bank of New York, is also worried, feels that credit abuses in boom times can become a "serious source of instability in our economy." He argues that consumer credit controls should be among the Federal Reserve Board's permanent economic tools...