Word: dollarâ
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...director and defender of the powerful dollar???"Mr. Dollar" himself?Fowler assumes a certain primacy among the West's clubby and powerful group of money managers. The U.S., after all, holds 33% of the free world's gold, accounts for 15% of its international trade and produces almost half of its industrial goods. Nonetheless, Europe's conservative finance ministers and central bankers felt that Fowler's proposal for a reform conference was rather brash for a newcomer?particularly one who had not consulted them in advance. They waited with considerable curiosity to meet this newest member of their club...
...glandular growth of syndicated features and columnists, and even the steadily rising per-copy cost of newspapers have all combined to help winnow the ranks. Newsmagazines have cut heavily into newspaper readership. So .has TV, which, from a-dead start around 1948, now absorbs some 14% of every advertising dollar???and five hours daily of the average televiewer's leisure time...
...years ago, U. S. students at Paris celebrated with notable champagne-bibbing the fact that they could get, roughly, 29 francs for a dollar???and a drinkable quart of champagne for the 29 francs. That was the greatest number of francs ever* exchangeable for a dollar in the history of the world. Then the firm of Morgan loaned the French Government $100,000,000; and one could get only some 14 francs for the dollar. Last spring the franc began to slip badly again. Last week the American Express Co., at Paris, was paying out approximately? 28 francs...
Later in the morning the franc broke on the bourse, dropping 9¾ points to 23 to the dollar???the lowest reached since March of last year...
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