Word: gold
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Dates: during 1950-1959
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...said a Vargas Finance Minister, "and the leg is coffee." Dependence on a single product makes Brazil vulnerable to exchange crises every time the price slides. Not only is the one leg wobbly: it might some day wither altogether and go the way of dyewood, sugar, gold and rubber. Competition from the other coffee countries and from cheap-labor plantations in Africa is increasing. World overproduction is a constant threat. And there is always the nightmarish possibility that some diabolically clever chemist may wreck the market altogether by discovering a cheap, palatable synthetic substitute for instant coffee...
...product export booms, invariably followed by abysmal busts. First came a 16th century boom in a red dyewood called pau-braza (literally, ember wood), which gave Brazil its name. In the 17th century Brazil became for a time the world's greatest exporter of sugar. Then came the gold rush; while it lasted, Brazil produced more than 40% of all the gold mined in the 18th century. The advent of the automotive age gave Brazil a great rubber boom, but Brazil now imports rubber from Malaya...
...Netherlands' worldwide investments helped expand its gold and dollar holdings to $1.2 billion, more than France's. Twice within 1954, Dutch wage rates have been increased, by 5% and 6%. Little Netherlands has achieved its prosperity despite losing Indonesia, the crown jewel of its empire...
...offer thumped down in the U.N.'s political committee like a bag of gold on a bargaining table littered with I.O.U.s. By the gift of material weighing no more than a hefty Notre Dame fullback, the U.S. presented the world with a package more fabulous than Aladdin's wildest dreams...
Died. Baron Erik Fleming, 60, court silversmith of Sweden, architect, sculptor and painter, whose more than 7,000 elegantly wrought coffee sets, platters and vases in gold and silver won him international fame, and whose strikingly simple, mass-produced designs were reflected in household appliances in thousands of postwar homes; in Stockholm...