Word: fundâ
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...first generation knows that they will never see the work completed, but they go on working." Among the topics up for discussion: U.S. problems with inflation and balance-of-payments deficits, the possibilities for a "Nixon round," and speedy implementation of special drawing rights within the International Monetary Fund???"paper gold"?to ease perennial pressures on gold and on the two international reserve currencies, the dollar and the pound sterling. One current source of U.S. irritation is a proposed Common Market tax of $60 a ton on imported vegetable-oil products, from which the U.S. earns $450 million...
...they prepare for their annual meeting in Washington, the men who make up the powerful International Monetary Fund???which aims to stimulate world financial cooperation and prevent monetary crises?are aware that those sinews are more sorely strained than at any time in the postwar period. Perhaps more than ever before, money has become a subject of worldwide concern, debate, even bitterness. Reason: the free world faces the grave possibility of a shortage of money to use in financing its rapidly growing international trade and investment, partly because it has leaned too heavily on a couple of powerful currencies...
Unlike most such organizations, the Society boasts of no one patron who defrayed its new building's construction cost or who set up its comfortable endowment fund???an amount not for publication. There have been many contributors, most of them small. But much came from such potent capitalists as the Messrs. Charles Burrall Pike (the Society's president) and Potter Palmer, the late Julius Rosenwald, Vincent Bendix, Joy Morton. Director for the past five years has been professorial L. Hubbard Shattuck, who dislikes his first name, will not reveal...
...money. He had 5,000 fellow stockholders. He had borrowed $1,080,000 from his father. But he still needed $300,000 to put his papers on a paying basis?and his father would lend him no more. He tried to pledge his patrimony?a $1,500,000 trust fund???and failed...
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