Word: ets
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Dates: during 1920-1929
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Signer Benito Mussolini abandoned, last week, his most heroic financial policy: the attempt to increase the value of Italian paper money until it should stand at par (TIME, Sept. 13, 1926 et seq.). Admission that this policy is impracticable was shrewdly avoided by Il Duce up to last week, when he found a way to mask failure behind a dazzling cabinet decree. This document, issued with a triumphal flourish, establishes the lira on a gold basis? not, however, at par (five lira to the dollar), but at 19 to the dollar, the new ratio being slightly lower than the ordinary...
...America and Japan, headed by the Federal Reserve System of the United States and the Bank of England. The second, amounting to $50,000,000, was granted by the Anglo-American bankers headed by the Morgan bank and with the participation of such banks as the Hambro, Rothschild, Baring et cetera, and five great English banks...
Benjamin Joy, to partnership in J. P. Morgan et Cie. of Paris, but not of J. P. Morgan & Co. of Manhattan (the parent organization). Immediately upon the announcement Mr. Joy, once a vice president of the Bankers Trust Co. of Manhattan, resigned his affiliation with Dillon, Read & Co., and sailed for Paris...
Again, Magruder. People on the "outs" with an Administration often have their innings with Congress. So it was with Rear Admiral William Pickett Magruder, whom Secretary of the Navy Wilbur lately silenced and sidetracked for his public allegations of Navy extravagance and inefficiency (TIME, Oct. 3 et seq.). Last week Admiral Magruder was called before the House Naval Affairs Committee and told to speak freely. Admiral Magruder spoke (see ARMY & NAVY...
Crunch-crunch went pretzels in the mouth of J. Lewis Coath, president of the Chicago Board of Education. Mr. Coath was presiding over another session of School Superintendent McAndrew's "trial" for insubordination (TIME, Sept. 12, et seq.). Although Superintendent McAndrew was absent from the hearing, 17 Chicago school teachers, principals and district superintendents, were present to call him a "Simon Legree . . . a faker . . . a cruel task master," because he had obliged them to exact perfect answers from their pupils before permitting the pupils to continue to subsequent lessons...