Word: dollars
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Dates: during 1940-1949
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...Treasury struck a new half-dollar, the first since 1916, bearing the portrait of Benjamin Franklin. Only other Americans on coins (except for special issues): Lincoln (1909 penny), Washington (1932 quarter), Jefferson (1938 nickel), Franklin D. Roosevelt (1946 dime) and two unidentified Indians (1859 penny and 1913 nickel...
Inflation. Richard Neison Wishbone Harris, 32, who expanded a $5,000 investment into the multimillion-dollar Toni (home permanent wave) Co. in seven years (TIME, Aug. 18), sold out to Gillette Safety Razor Co. Harris, who will continue as Toni's president, will get $20,000,000, with a first down payment of $11.5 million in cash...
...gross national product (total goods and services produced) was $230 billion, 13% higher than the record peacetime peak of 1946. Like the New Look, some of the astronomical figures of dollar volume were not so impressive as they seemed. The rise in the gross national product was due in part to price rises. But in items turned out, 1947's industrial production was 23% above 1946's surprising total...
...this was not the only yardstick. The demand for food was still on the rise, but the demand for many another item was already going down. Example: the dollar value of all retail sales was $109 billion, up 13% over 1946. But the unit volume, i.e., the number of items sold, went down an estimated 10% during 1947. Part of the drop was due to the increase in production, which tended to satisfy demand, and part to the rise in prices. In a free economy, prices can also be a cure for inflation-if a harsh one. As London...
...imponderable-the European Recovery Plan. The final shape of ERP would do more than anything else to shape the economy in 1948. Against 1947's exports, the demands for ERP for the first 15 months, as drafted by the President, did not bulk overlarge. The biggest dollar item of all-food and feed-was 27% less (by volume) than the U.S. shipped abroad in the last 15 months. Iron & steel (3,104,000 metric tons) totaled only 37% of the last 15 months' exports; fuel was 80%; the $378,200,000 worth of machinery and equipment was only...