Word: controllers
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Dates: during 1930-1939
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Schacht to Funk. Even before Hitler the Germans had been forced to experiment with foreign exchange control. With exports falling in 1933, Hjalmar Horace Greeley Schacht, head of the Nazified Reichsbank, first prohibited the transfer of interest on German foreign debts and then evolved a system of control boards to balance imports and exports. Out of these equilibrist schemes grew the blocked currency accounts and the barter devices, with the Germans paying foreign exporters in special marks good only for German goods at a price lower than the internal price level. Boycotts and currency difficulties kept lopping off chunks...
Enter Goring. Since General Goring took control of the entire German economy in 1936, the Nazis have made some progress towards their goal of Wartime self-sufficiency in Central and Eastern Europe. Low-grade iron ores are being worked by the State-owned Hermann Goring Iron Works; by 1940 the Nazis expect that perhaps 35% of the iron consumption of Great Germany will be supplied from domestic sources. Aluminum from bauxite imported from Hungary and the Balkans is supplementing heavier metals, such as copper and nickel. Artificial rubber sufficient for 25 to 30% of the peacetime rubber requirements is being...
This week the public was told that J. & L. had indeed perfected photoelectric control for Bessemer converters. Though still chary of talking technical details, J. & L. disclosed that the indicator had been used on Bessemer heats for seven months. Patenting has not yet been completed; when it is, J. & L. expects other companies to pay for the privilege of using the new process, which it counts on to produce a revolution in steelmaking...
...aeronautical properties, including 9,100 miles of airlines. These were presently lumped into American Airways. As might have been expected, the conglomeration had an operating loss of $3,400,000 in 1930. Successive losses brought continued shake-ups in management until 1932, when Plunger Errett Lobban Cord got control after a spectacular proxy battle...
...struggle for "democracy in education" the Teachers' Union is by its charter denied the right to strike. In the fight for less topside control at Harvard, however, it has used tellingly the chief weapon at its disposal: the keen sword thrust of reasoned criticism. And behind that thrust are many of Harvard's much talked of "younger men." The Union's fight for the retention of Walsh and Swoezy may have been in vain. But this year's trenchant proposals for tenure reform and complete departmental democracy may cut more ice with the powers that be than the Faculty Committee...