Word: cuts
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Dates: during 1940-1949
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...through the Atomic Energy Commission files with blunderbuss and loaded innuendo. Nor could he be blamed for the House Un-American Activities Committee's crass demand for a list of textbooks from 107 colleges (which Mr. Truman dismissed with an approving reference to a Washington Post cartoon-see cut...
...harder & harder to sell in dollar countries. In a few other countries, e.g., Belgium and Italy, British export trade is running into trouble for the same reasons, but, in general, the pound position as against other "soft" currencies has strengthened rather than weakened. In other words, if the British cut the official rate to, say, $3.50 in order to get in line with the dollar, other countries would devalue their currencies to get in line with the pound...
...True, devaluation would make British exports easier to sell, but it would also make Britain's imports cost more in terms of sterling. Imports are already cut to the bare essentials. We are more certain that devaluation will increase the cost of imports than we are that it would increase the volume of exports. In the face of the U.S. recession, how do we know we can sell more British goods in the U.S. even if devaluation lowers the dollar price tags? If American domestic prices continue to fall, we would merely have to devalue again. The time...
...currency entirely and express these in man-hours per unit produced. The British product costs more than the U.S. product because British production is less efficient. No matter how she fiddles with the currencies, Britain cannot expand her U.S. market on a long-range basis until real costs are cut by more efficient machines, management and labor. The present crisis is a powerful pressure on British management and labor to become more efficient. Devaluation now would simply give them a temporary breathing spell and let them go on in the same way until they faced another devaluation...
Jewish refugees from Europe were still pouring in and settling on land formerly occupied by Arabs (see cut...