Word: convert
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Dates: during 1950-1959
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Wisdom ended his testimony at 3:45 a.m. When the committee convened again after breakfast, several normally pro-Taft members, doubtless mindful of the television audience, seemed ready to vote with Ikemen on the Louisiana issue. Moving swiftly to convert a rout into a display of generosity, Ohio's ponderous Clarence Brown, leader of the committee's Taft forces, offered to do some trading...
What Europe needed was a good local bank, to issue loans, cash IOUs and convert one man's lire into another man's pounds. Marshall Planner Paul G. Hoffman proposed the European Payments Union (EPU), to do two things: 1) "liberalize" European trade by curing its ancient plague of import quotas and exchange controls; 2) act as a central clearinghouse through which the 18 Marshall Plan countries could make all their trading payments. The U.S. put up $350 million to get the bank started; 18 members opened accounts, and EPU was in business, with a two-year lease...
...started a run on EPU's lending department. By last week, EPU's deficit with the dollar area was still a huge $3.7 billion. Equally alarming, the Payment Union itself was out of balance. Some IOUs (e.g., Belgian francs, Swedish kronor) proved "harder" than others, easier to convert into dollars. The richer nations grew richer, the poor got poorer. Richest of all were the Belgians and their trade partners, the Luxembourgers, who had piled up an unmanageable EPU surplus of $750 million...
...Eisenhower delegation from Texas is divided 33 for Ike and five for Taft. With it seated, the division of votes might be 579 for Taft, 627 against Taft. Under those circumstances it might take only a few ballots to convert all the anti-Taft votes into Ike votes...
...expose the black-marketeers and currency speculators who hold much of Israel's large-denomination banknotes. The Israeli government has promised that the nation would be solvent by 1958. But would the first forced loan be the last? Nervous Israelis hurried off to the nearest jewelers, to convert currency into fluctuation-proof diamonds...