Word: central
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Dates: during 1950-1959
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...Democratic state central committee of Illinois met in Springfield one day last week to perform an embarrassing chore. Their problem, as Chicago Mayor Richard Daley put it, was to choose in "open and free balloting" a substitute for Cook County Treasurer Herbert C. Paschen, who stepped out of the race for governor two weeks ago, after disclosures that a $29,000 employees' "welfare fund" administered by his office had been used for political purposes (TIME, Sept...
...held a public office for four years, has had no access to U.S. secrets. A fortnight ago, after Adlai Stevenson had said at a press conference that he would "welcome" intelligence reports, President Eisenhower offered him "periodic briefings on the international scene from a responsible official in the Central Intelligence Agency." The information would be secret and exclusively for Stevenson's personal knowledge, he reminded, but otherwise with no strings attached...
...Pakistan to switch to a neutralist foreign policy, carried unpleasant implications for the U.S., which considers Pakistan its most reliable ally on the Asian continent. It also posed a considerably more immediate threat to Prime Minister Mohamad Ali, 51, the lean financial expert who has led Pakistan's central government for 13 turbulent months. In the last two years Pakistani politicians have taken to switching parties with all the abandon of a woman trying on hats, and it was now almost certain that a number of East Pakistan members of the National Assembly, their eyes fixed on the main...
...tools have been jealously guarded and sharpened since Bill Martin succeeded Thomas McCabe as head of the Fed. A banker's banker, Martin has educated a whole new generation of Federal Reserve officials in the classic function of U.S. central banking: keeping money in balance with production with as little direct Government interference as possible. Says FRB Governor (and Truman crony) J. K. Vardaman: "Martin has a better mastery than any man I know of the intermingling of private enterprise and federal supervision in this mixing bowl of the system. He has done more than any man to ensure...
...business was ahead. But no one ever questions his integrity. He is famed in Washington as a man of low pressure and high principle, the boy wonder who has continued to make good ever since he was elected president of the New York Stock Exchange at 31. Martin regards central banking almost as a religion whose chief temple is Washington's white marble Federal Reserve Building, has repeatedly hailed the Federal Reserve system as America's greatest contribution to the science of government. Says he: "Money is at the heart and center of a flexible society...