Word: helpful
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Dates: during 1950-1959
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...highest since the tight-money days of 1929. The rate was so attractive that an avalanche of subscriptions poured in from small investors. Said New York's Manufacturers Trust: "It was fantastic. Everyone in the Government bond department was too busy to even go out for lunch." To help lure in individuals, the Treasury guaranteed that subscriptions up to $25,000 would be allotted in full if the subscriber would pay in cash. Also, as part of the same financing operation, the Treasury will auction an additional $2 billion in tax-anticipation bills due next June...
...Soft. Bob Anderson had other complaints. European nations and Japan, said he, are not doing their share to bear the cost of help to the world's underdeveloped nations; they should take over a greater share of the burden from the U.S. To this end Anderson had a pet U.S. project on hand: the establishment of an International Development Association (TIME, Aug. 19) to lend to underdeveloped nations from funds contributed by nations now belonging to the World Bank. The loans would be made on more liberal terms than the World Bank...
...Plenty. In the midst of Britain's increasing credit squeeze, Jasper's supply of money seemed endless. It turned out that recently most of the cash came from the State Building Society, a publicly owned savings-and-loan association supported by small depositors and designed to help people buy their own homes. Its motto: The Horn of Plenty. The horn was easily tapped by Jasper & Co. through Grunwald, who was also a lawyer representing State Building; he arranged for the Society to lend to Jasper on mortgages. All told, it lent Jasper $21.2 million of its currently estimated...
...standard would act as a brake on inflation by preventing governments from overspending, head off world recessions by doing away with the excesses that lead to them. A full gold standard, as they see it, would also put a damper on sudden expansions of credit not backed by gold, help stabilize prices, and step up the flow of capital-and thus international trade-by making all currencies freely convertible into gold...
...price hike now. The British Radcliffe Report on monetary policy this year concluded that such an increase is not "immediately necessary or the most hopeful approach to the problem of international liquidity," and the International Monetary Fund has come out against it. Gold-short nations that need the most help would benefit least by the change; the major gains would be made by such big gold producers as Russia and South Africa...