Word: cashing
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Dates: during 1940-1949
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Though the credit for it was only partly his, Michael L. (for Late, after the doctor who delivered him) Benedum amply deserved the tribute. He started in the oil business at the age of 20 with $500 in cash and a million dollars' worth of nerve. Along with the late Joe Clifton Trees, the technical brains of a lifelong partnership, he struck his first oil in West Virginia...
Speculators, cried President Truman angrily, were to blame for much of the increase in food costs. But it was the Government's buying-in-a-bunch rather than spreading it out that helped make speculation a sure thing. So the U.S. had its first $2.95 a bushel cash corn in its history; its first $3 cash wheat in 27 years. When the Government temporarily stepped out of the market toward year's end, with most of the grain it needed by mid-1948 already bought, the price of May wheat futures dropped...
Farmers took in some $30 billion cash on their bumper crops, 22% more than in 1946. Financially the farmers, after four prosperous years of war and two of peace, were better off at 1947's end than they had ever been before. Yet they were less than satisfied. One midwesterner (with possible exaggeration) wrathfully wrote his Congressman: "For one fat hog we can get a carpenter for two days. For one 14-month-old steer, at 25? a pound, we can get ten pieces of 1 x 2 inch board, 10 feet long, second quality." Though farmers complained...
...fallacy in much thinking about ERP was that it would increase overall U.S. exports, thus increase inflation. But it would not do so, even though the U.S. was handing out the cash to other nations to pay for the exports. ERP's exports would merely replace most of the exports which foreign nations could no longer afford. With ERP and loans from the World Bank and other sources, U.S. exports in 1948 might run only as high as $12 billion. But they would still be $3 billion under 1947, and the more ERP was shaved by Congress...
...born in 1839, he grew up in the cornland of central Indiana. In his teens he pored over Shakespeare and began writing a column signed "Will Westward" for a Raintree County weekly paper. He fell in love with a beautiful girl named Nell. Among his friends were Cassius P. ("Cash") Carney, a boy with business sense, and Garwood Jones, a robust, youthful politician with a shrewd eye for the girls and the main chance. Garwood Jones and Johnny Shawnessy were rivals for Nell, but Garwood would never have won out if Johnny had not been tempted away by a predatory...