Word: chinned
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Dates: during 1950-1959
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Finance Minister Paik To Chin, poised and confident in a neat brown business suit, thought he had the Assembly exactly where he wanted it. Then the Assembly threw its bombshell: practically all existing won, it decided, should be convertible into hwan. Rather than have any part of their own private funds blocked, many Assemblymen were prepared to wreck the government's chances of curbing inflation...
Rhee's day begins at 6 with a Western-style breakfast of toast, coffee, ham & eggs, after which the President likes to walk his Chin-do dog through the garden. He then goes through the newspapers with his secretary and scans reports from his embassies and ministries. Last week he received a letter written in blood purporting to be Acting Premier Paik To Chin's confession that he was a Communist. Rhee spotted the letter as a fraud, and investigation disclosed that it had been written in chicken blood by the madame of a Seoul tea house...
Government, as Rhee practices it, is almost a one-man job. He has a few trusted cabinet ministers, such as Acting Premier Paik To Chin and Information Minister Clarence Ryee. Below them are a number of lesser ministers and government officials who cautiously conform to Rhee's wishes. Government favors can be obtained only through Rhee and this circle of his intimates. All foreign exchange allocations for more than $500, for example, must be personally approved by Rhee. Imposed to ensure the strictest honesty in government operations, this control has its drawbacks: important decisions inevitably await the President...
Syngman Rhee and his able finance minister, Paik To Chin, put their heads together and devised a plan. All the won in circulation would be called in and exchanged for a new unit, the hwan, at the rate of one hwan for 100 won. Not more than 50,000 won (about $10) could be handed in by any individual at the first exchange; the rest would be exchanged later on terms not yet specified. Last week government teams quietly went out by boat and train from Pusan to stock the banks with the new money. Then a nine-day exchange...
...week, Sculptor John had finished two strong, roughly molded character studies done with the same sure hand as his best canvases. One shows his wife, "Dodo," gentle and clear-browed in golden bronze; the other is a salute to Ireland's famed poet, William Butler Yeats slit-eyed chin thrust inquisitively forward. Now John is happily working on a third, head of his daughter Vivien, which is still in the shape where the tobacco tins he thriftily uses as filler are not yet covered over...