Word: creditably
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Dates: during 1950-1959
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...limit of intelligence may show itself, says Astronomer Struve, in another and more spectacular way. Every few hundred years, throughout the galaxy, a supernova (exploding star) blows up with a mighty detonation. Astronomers generally credit these events to natural causes. But, says Struve, "it is perfectly conceivable that some intelligent race meddled once too often with nuclear laws and blew themselves to bits." When astronomers on the earth are able to observe such explosions with sufficient accuracy, they'may be able to determine which ones were natural and which were caused by beings that grew too intelligent for their...
...deposits in New York and Chicago. 17½% in most other big cities and 11½% in "country" bank areas. This freed $500 million from reserves, and since each such dollar can generate up to $6 in loans, it could add close to $3 billion to the credit supply. The move should give business a bigger lift than the Fed's two recent cuts in the discount rate, which actually created no new credit...
...chose to tread cautiously,"lest it relax credit too much. The cut in reserves puts the banks in about the same position as they were at the bottom of the 1953-54 recession when FRB also cut reserves to ease credit. The result was a sharp pickup in business. If last week's cut does not spur business, FRB was in a mood to cut some more. But despite spreading unemployment it still planned to move slowly. Warned Martin: "We must recognize that excessive stimulus during a recession can sow seeds of inflation that can jeopardize our long...
...policy of easing money seemed to be getting results. Last week several New York banks lopped ½% off time-deposit rates, dropped them to 2% or 2½%. As interest rates edged down, demand for credit picked up. Loans by New York City banks rose $152 million last week, more than twice the gain of the same 1957 week...
...rich, not from his plays and histories but because he was a shrewd investor who "would rise from a sick-bed and travel across France, if he saw a good profit to be made." Château Cirey in Champagne was tumbledown; to restore it, Voltaire put his credit at the disposal of Emilie's husband-who, in turn, put his wife and Château at the disposal of Voltaire. History does not show a more foursquare example of the eternal triangle...