Word: drachmas
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Shops all over Athens were closing as the drachma skidded from 1¼ trillion to 2½ trillion for a U.S. dollar. Early last month, facing the worst inflation in Europe (TIME, Nov. 6), the Greek Government issued new drachma notes based on gold. Then it levied a tax of 1,500 gold pounds (about $8) on each of the country's one thousand richest citizens to get additional backing for the currency. By last week the gold cure seemed to be working. In general, prices had stabilized. Cheese, butter and eggs were still high in Athens, but prices...
...Continent by way of Scandinavia, Russia and Italy. Egypt, where Shepheard's Hotel in Cairo is an international landmark, benefited by Mediterranean cruises. Only country actually short of hotels is Greece. C. Liabratoulos told the sad-faced conference last week that his government would give a 20,000,000 drachma bonus (about $440,000) to the first promoter who would build a chain of modern hotels throughout that ancient land...
...machines in almost every part of the globe where clothes are worn. So long does it take to assemble Singer figures from the preceding year that the annual meeting can never be held until September. Last week, having accounted for the very last nickel, yen, leu, franc, shilling, florin, drachma, peso, pengo, rupee, escudo, zloty, mark and finmark. Sir Douglas Alexander, Singer's venerable president, announced that profits for the year 1933 were...
Hastily machine gun units were rushed to strategic points in Athens. Interest payments on Greek loans held abroad we're "stopped to avert a collapse of the drachma." President Alexander Zaimis was reported about to assume dictatorial powers, for good reason: the General Confederation of Greek Workers had abruptly decided to call a Greek General Strike "in sympathy with demands for higher wages already made by individual unions...
...Rangoon last fortnight, Narasingha Swami, Indian mystic, ate a handful of ground glass, drank half a drachma of nitric acid, some sulfuric acid, also swallowed a grain of strychnine and a grain of potassium cyanide.. He died in agony. His friends explained it was because he had been kept from doing his yatayoga (breath-control and autosuggestion exercises) by swarms of visitors at his house...