Word: first
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Dates: during 1950-1959
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...restored so quickly that only $250 million of the money was actually borrowed-on ?300 million security posted by Britain, to be repaid at 4.5% in ten installments from 1960 to 1965. Last week, with Britain's economic rebound having turned into a full-fledged boom, and the first favorable balance of trade with the U.S. since 1865 (TIME, Aug. 31), Chancellor of the Exchequer Derick Heathcoat Amory proudly announced in the House of Commons that Britain was immediately repaying all $250 million, plus $5,500,000 in interest, an impressive 5½ years ahead of schedule...
...rates running 20% to 50% below Trieste's. The nations of the old Austro-Hungarian Empire, for which Trieste used to be the prime port, are mostly Communist now, but even non-Communist Austria has diverted so much of its business to Rijeka that this year, for the first time in history, Rijeka is handling more maritime traffic than Trieste...
Overflowing Heart. In their first flush of enthusiasm over regaining Trieste, Rome's bureaucrats floated a national bond issue to help compensate the city for the economic loss it suffered with the departure of the 6,000 U.S. and British troops who had garrisoned the free territory. But since then, Rome has turned a deaf ear to proposals that some of Italy's innumerable state-owned enterprises be moved to Trieste and that the city be granted the privilege of importing raw materials and exporting finished goods duty-free. Triestini complain that Sicilian-born Giovanni Palamara, Italy...
...wives were quick to retort. Said one heatedly: "Some of those Korean marriages are just sordid commercial arrangements. Many G.I.s who marry Korean girls never attempt to have their wives follow them when they leave Korea. The marriage was just a black-market partnership in the first place." A PX official backed up part of her complaint: "I have seen a Korean wife walk out laden with packages-and be back within an hour to buy more...
...Seoul, Pusan and Taegu, which are lined with black markets whose vendors do not even bother to remove the PX labels from their wares, they were not the only source of supply. As one Korean put it: "Much of the stuff never gets to the PX in the first place. It goes straight to the black market from the warehouse." Sometimes it never even gets to the warehouse; last week a truckload of 84 cases of U.S. butter valued at $3,200 was hijacked from the Pusan pier, and melted away into other hands before MPs could catch up with...