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...that was (and is) basically strong and growing, if temporarily tormented. Its free-enterprising policies have brought $970 million in foreign capital, and between 1948 and 1957, gross national product almost doubled. At first Prado hiked wages and the budget too abruptly, and the U.S. recession dropped commodity prices: copper 44%, cotton 25%. The Peruvian sol dropped from 19 per $1 to 25. But Prado fell back on his banker's training, hiked customs as high as 200% on luxuries, clamped rigid reserve requirements on banks and stabilized...

Author: /time Magazine | Title: PERU: Working Alliance | 2/16/1959 | See Source »

...Copper, a weak sister among metals, recovered to the point where domestic producers boosted prices 1? a Ib. to 30?, the highest level since mid-June 1957. Increased demand from automakers, electrical-equipment manufacturers and home builders led domestic producers to predict continuing recovery during the remainder of 1959. ¶Construction in January slipped slightly from December but still posted an all-time record for the month at $3.7 billion, v. $3.3 billion in 1958. ¶ Department-store sales as a measure of consumer confidence increased 8% from the comparable period in 1958. The full-month totals for January show...

Author: /time Magazine | Title: STATE OF BUSINESS: Marching On | 2/16/1959 | See Source »

Metallurgists melted a 30-lb. piece of molybdenum with a high-density electric arc in a copper-lined, water-cooled crucible. The molten molybdenum was then poured through a series of troughs into a rotating graphite cylinder which forced the metal to cling to its walls while it hardened, produced a molybdenum cylinder 4½ in. wide and 8 in. long...

Author: /time Magazine | Title: INDUSTRY: Breakthrough in Molybdenum | 1/26/1959 | See Source »

...followers, and began receiving homage seated on a leopard skin, symbol of tribal supreme power. Meanwhile, the rival Bangalas also began organizing, and the bush telegraph began to echo the nationalist sentiments of the recent All African Peoples Conference in Accra. To make matters worse, the demand for Congolese copper ore hit a slump, and jobless natives swarmed into the city to find work. Finally, one day last week, 4,000 blacks jammed into the courtyard of a Y.M.C.A. to hear Kasavubu speak at an unauthorized protest meeting. When the police arrived, the riots began...

Author: /time Magazine | Title: BELGIAN CONGO: If Blood Must Run | 1/19/1959 | See Source »

Some time, somehow, a highly ingenious thief had manufactured copper copies, embarrassed museum officials admitted last week, and substituted them for the gold originals, which presumably he sold for a tidy profit. And for months or years, the museum's expert had been lecturing learnedly over the copper fakes without ever noticing the change...

Author: /time Magazine | Title: Art: Lost Count | 1/12/1959 | See Source »

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