Word: hardes
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Dates: during 1950-1959
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Since British subjects will still be rigidly limited in the amount of sterling they can convert into hard currencies, the British action falls short of true convertibility. But henceforth, foreign businessmen will be able to change pounds freely into dollars (at an official rate ranging between $2.78 and $2.82). The result, so London hoped, would be to maintain the pound's position as Europe's leading medium of exchange-a vital matter to the British, who. with only 4% of the world's money, do 40% of the world's banking...
...Republic of Korea's hard-boiled old President Syngman Rhee dislikes opposition, newspaper criticism and elections -especially elections when, as recently, they have run against his Liberal Party. Not only has he been plagued by all three but also by a more serious menace: growing Communist infiltration and espionage from North Korea...
Building further their brothers-under-the-greenbacks camaraderie, ardent Art Fancier Averell Harriman, Democratic Governor of New York, offered to Republican Governor-elect Nelson Rockefeller, an art lover even more ardent, a token of no hard feelings: the loan of eight etchings and two oils by James Abbott McNeill Whistler and one oil by John Singer Sargent for Rockefeller's use in the executive mansion...
...Most famed of convict journalists was the old New York Evening World's talented, sadistic City Editor Charles E. Chapin, sent to Sing Sing in 1919 for the murder of his wife. As editor of the Sing Sing Bulletin, Chapin drove his convict staffers as hard as he had the worldmen, ended up tending the prison flower garden after authorities, unappreciative of Chapin's aggressive editing, suspended publication...
...first time, both management and capital can be 100% foreign, and the government will guarantee free conversion of profits, to be split fifty-fifty, into hard currencies. U.S. oil companies have long been plugging for such a change. Caltex and Standard Oil Co. (New Jersey) are already negotiating for rights under the new law, which imposes only two major restrictions: 1) Spain's home needs must be met first, and 2) Spanish oil must be carried in Spanish tankers...