Word: britain
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Dates: during 1940-1949
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...Great Britain, armed with last month's $4.03 to $2.80 devaluation of the pound, resumed her fight to wipe out her dollar deficit and thus get back on her feet economically. University economists found themselves in general agreement this week that devaluation should prove a big stimulus to recovery and that there isn't much Soviet Russia can do about...
...economic experts--men familiar with the problem through work with the Economic Cooperation Administration the University's Russian Research Center, and through general studies in the field of international trade. Of these men, only one was not convinced that devaluation had at least al fair chance of solving Britain's economic woes...
Professor Smithies believes Britain can reap most of the devaluation benefits, but he isn't quite sure how much good will result. "We can't be certain Britain will be economically independent of the United States when the Marshall Plan ends in 1952," Smithies says, "but the important thing is that progress can now be made...
...Grab. Dannie Heineman, whose friends and associates include such bigwigs as Herbert Hoover, Spain's Duke of Alba and Britain's Viscount Swinton, prevailed upon Belgium and Canada to protest March's actions. Franco, who had praised March for his "audacious nationalism," brushed them...
...some British salesmen in the U.S. found that business boomed as soon as prices were cut. Britain's Drake America Corp. slashed men's Argyle socks 22%, cashmere sweaters 20%, and most other goods accordingly. In two days, it booked $1,250,000 worth of orders. Austin Motors Co. Ltd., which had slashed its prices from 11 to 15%, sold out its entire U.S. stock of 1,000 cars in the first two days after devaluation, promptly ordered 500 more. But such price cuts seemed likely to last only in those British goods, such as autos, which...