Word: creditably
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Dates: during 1950-1959
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...credit for this constantly engaging role goes not just to Huxley but also to Alan Webb, whose face, postures, coughs, and general acting of the part come close to perfection. This portrait of a professor deserves to be seen and remembered...
Barks from the Fed. Concentrating on the very real dangers of inflation, FRB Chairman Martin and his experts barked so long and so loud that they sounded as if the Federal Reserve was determined to keep credit tight come what may. Only a fortnight ago Chairman Martin preached harshly about inevitable declines (TIME, Nov. 18). As it turned out, says Martin, "I talked too long"-meaning he may have laid it on too thick. Now Martin, who is no man to overstay the market, finally agreed with many businessmen that the risks of deflation outweigh the problems of inflation...
...actual obligations without technically adding to the debt. Fannie May recently offered the public $802 million worth of notes, backed by the mortgages it holds, then used the proceeds to pay back part of the $1.8 billion it had borrowed from the Treasury. Agriculture's Commodity Credit Corp., which has some $350 million in public loans, could also go into the open market, as it did in 1953 and 1954, float $1 billion or more in loans through "certificates of interest" on the surplus crops it holds. As a last resort, the Treasury can also draw down...
...debt lest it go through the ceiling, must often borrow at times during the year when seasonal demands of business make money tightest and most expensive. Another problem is that such independent borrowers as Fannie May usually cost the U.S. more in the long run. With a lower credit rating, Fannie May pays an average 3.96% interest for the money it borrows v. an average 2.78% for the Treasury itself. The ceiling also costs the U.S. money in departments that have nothing to do with the Treasury. Said one Washington economist: "I've seen the Navy cut back...
...announced that G.M. has moved to settle with the Government. It offered to refund a total of $9,701,458 to the Air Force. Already in the hands of the Air Force is a check for $2,400,000 to cover one section of the contract. G.M. also wants credit for another $2,600,000 of the total that has been paid in corporate taxes, and has offered to refund another $4,701,458-provided that the government does not prosecute the company. It is now up to the Government to decide whether to settle or go to court...