Word: dominican
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Dates: during 1940-1949
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...When a Dominican wanted to buy a pair of shoes or bet on a horse-or pay cash for anything with folding money-he paid in U.S. greenbacks, because his country had no paper currency.* That was the heritage of bankruptcy and economic dependence on the U.S. Now the Dominican Republic is strong, its external debt paid off (since July), its internal debt minuscule. Last week, Dominican banks started taking in time-worn green-inked engravings of Washington and Lincoln, replacing them with crisp Dominican peso notes bearing the likeness of local heroes...
...present, both the U.S. dollar and the Dominican peso will be legal tender, but after three months, by Dictator Rafael Leonidas Trujillo's law, the dollar may be withdrawn from general circulation. The Central Bank will have the right to control all dollar exchange. Chief advantage for Dictator Trujillo: complete control over all his country's dollar purchases...
...Dominican Republic...
...freed the expeditionaries (including three Americans) and stood by Minister Alemán. Compelled by a Senate vote of no-confidence and Army pressure to shift Alemán from the Education Ministry, he immediately made him minister without portfolio. After all, as last week's welcome showed, Dominican freedom is still a popular cause in Cuba...
Sweet Tooth. The villain seemed indeed to be the British Government, which through its British Cocoa Control Board last year sold some 300,000 tons, about half the world output. It sets the pace for similar Government agencies in Brazil and the Dominican Republic. All three, by dint of shrewd timing in deliveries, have made fat profits in the U.S. market. But the British were not wholly responsible for the price rise...