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Before the week was out, Britain decided to dip into her own gold reserves (amounting, with other reserve assets convertible into dollars, to $2.4 billion). She traded gold for $80,000,000. But Britain, needing her gold reserves to maintain confidence in the pound sterling, was not likely to make major inroads into them for current dollar needs...

Author: /time Magazine | Title: ECONOMICS: The Gold Queue | 9/22/1947 | See Source »

Despite the partial crop failure, the U.S. had the grain to help feed the world. But the Government did not like to dip down too far into the nation's food bins. If crops were bad next year, the U.S. might need its surplus for itself. Farmers were storing some 70% of their wheat to 1) keep out of higher income-tax brackets this year, and 2) get better prices later on. Some farmers were feeding wheat to cattle and hogs...

Author: /time Magazine | Title: THE NATION: When Winter Comes | 9/15/1947 | See Source »

...Trial Dip. The cramped (141 cubic foot) space inside the steel-shelled coconut will be crammed with control apparatus, batteries and instruments. The bathyscaphe will carry enough oxygen to keep two men alive for more than 32 hours, and chemicals to absorb the carbon dioxide given off by their breathing. Powerful searchlights outside the cabin will light up the sea, and allow fish and other bathyfauna to be observed and photographed. Because time for note-taking will be short, a recording device will bring back a running commentary on the dive. The depth ship's experimental compass will...

Author: /time Magazine | Title: Science: Depth Ship | 8/18/1947 | See Source »

...members were still art students-the Wedgies have inspired some 600 proselytes (in & out of jail). Bricklayers, factory workers and carpenters by day, Wedge members invade the prisons at night, with armloads of free paint and canvas. For their work in provincial jails and small villages, the art missionaries dip into the group kitty, which is replenished from their meager wages...

Author: /time Magazine | Title: Art: Boom Behind Bars | 8/18/1947 | See Source »

...middies had shaken hands with spry old King Gustaf. They watched goggle-eyed on the beaches as buxom Swedish lasses publicly doffed their clothes to slip into scanty bathing suits in full public view. Later, a Swedish hostess was dumfounded when the adaptable middies, invited to take a dip in her private pool, promptly stripped to the buff and dove in. When she complained to a senior officer, he told her that the boys thought they were following the local custom. In Edinburgh, like their elder brothers in wartime, they had been greeted by street urchins calling "Any gum, chum...

Author: /time Magazine | Title: Foreign News: The Fleet's In | 7/28/1947 | See Source »

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