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...these restrictions were intended to reduce the drain on Britain's dwindling dollar supply; 'but they would close only a third of the gap between what Britain sold abroad and what she bought abroad. The other side of the scale was British production. A higher production rate was supposed to close the other two-thirds of the import-export gap. If every coal miner worked five minutes more a day, for instance, he would produce as much in exports as the British Government hopes to save by the new gasoline restrictions. What were the chances that British production...

Author: /time Magazine | Title: GREAT BRITAIN: Downhill in the Dark | 9/8/1947 | See Source »

...welding" operation, now widely used, has been successful in many cases. The surgeon, after turning the eyeball around, first punctures it in several places to drain the fluid between retina and choroid. Then he seals the two membranes together by heating them. The inflamed, swollen retina and choroid close up like inflated inner and outer tubes and eventually heal tightly together...

Author: /time Magazine | Title: Medicine: Welding Job | 8/25/1947 | See Source »

British producers pointed out that because of Hollywood's six-month supply of films in Britain, the tax would not accomplish its purpose of immediately easing the drain on Britain's dollars. By the time it got around to doing so, they feared that the British film industry might be the real loser. Most cinemoguls on both sides of the Atlantic felt that the tax was mainly a bargaining point which Britain had readied for this week's conference on relaxing the terms of its loan from...

Author: /time Magazine | Title: FOREIGN TRADE: Normal Pangs | 8/25/1947 | See Source »

Europe's Communist scientists are dreadfully worried by the U.S. drain on the world's uranium supplies. Recently, the late Madame Marie Curie's son-in-law, Frédéric Joliot-Curie, Communist head of the French Government's atomic research program, uttered an atomic moan. The U.S., he said, has a monopoly of the world's "marketable" uranium...

Author: /time Magazine | Title: ATOMIC AGE: Pure Science | 8/11/1947 | See Source »

...Stafford Cripps for a conference with U.S. Under Secretary of State Will Clayton on the leftovers of the U.S. loan. The shocking fact: if Britain keeps withdrawing funds at the present rate, nothing will be left by September. Two of the loan's agreements add to the-dollar drain: 1) the "nondiscrimination" clause, which forces the British to buy goods in the U.S., for dollars, which they might get elsewhere more expensively but for pounds; 2) the "sterling convertibility" clause, which forces the British to convert into dollars some of the sterling credits held by foreigners (TIME, June...

Author: /time Magazine | Title: GREAT BRITAIN: On the Brink | 8/11/1947 | See Source »

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