Word: escudos
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Dates: during 1960-1969
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...from the New World by the Spanish, according to one expert, at least 5% -$400 million worth-was lost in shipwrecks on the way home. The actual value of all the lost loot is infinitely higher, since some 17th century coins and jewelry fetch huge prices; a single Spanish escudo can bring as much as $1,200 on the rare-coin market...
...Latin American spiral is largely the result of instability in the peso, escudo or cruzeiro, which in turn increases import prices and wrecks wage levels. In economically advanced nations, however, the increases are a penalty of unpoliced success. Expanding industrial output in the postwar years, these nations tried to avoid labor shortages with higher pay, more overtime and lavish fringe benefits-until wages finally outpaced production. At the same time, increased consumer spending competed for a relatively stable supply of goods and steadily pushed up prices, particularly of food. Britain slowed its spiraling cost of living by instituting...
...lands, and Chileans are still repairing the $400 million damage from catastrophic earthquakes 2½ years ago. Chile also shares some of the woes common to most of her neighboring republics-inflation, government deficit spending, and a serious trade imbalance that recently forced the devaluation of Chile's escudo currency...