Word: higher
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Dates: during 1950-1959
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Furthermore., the state-and local-government market for Government bonds is drying up. Once, most states specified that a large portion of their pension funds had to be invested in federal bonds. Today many permit them to be invested in higher-yielding corporate bonds. An even bigger Government market used to be insurance companies, mutual-savings banks, savings-and-loan associations and corporate pension funds. From 1952 through 1958, these institutions trimmed their federal-bond holdings from $23.9 billion to $20.6 billion, bypassed the Treasury entirely in putting more than $90 billion in non-Government investments...
...Treasury must even compete with other federally backed obligations to find customers-often coming off second best. Many investors who once insisted on a Government bond are now happy to buy a Government-guaranteed mortgage. Not only is the interest rate higher than what the Government pays on bonds, but the investor does not have to wait until maturity date to get his money back...
...established in order that purchasing power be expanded for the benefit of the entire nation," said the committee. "Short of government action, such a program offers the only hope of eliminating unemployment and stimulating greater production. There is not the slightest doubt that the industry can afford substantially higher wages and benefits and still remain highly profitable without increasing prices." McDonald announced that his workers expect "a good share" of the industry's "fabulous" profits (see below...
...phrase "broadly liberal" comes from the college catalogue, which itself defines the emphasis: "limitation of the amount of specialization safeguards the broadly liberal purpose of the four-year undergraduate curriculum." This is a double-edged ideal; for, despite the increasing numbers of its graduates who go on to take higher degrees, Wellesley itself gently discourages the academic. The Wellesley girl may not be narrow; but on the other hand there is the danger which Malcolm Cowley pointed out in the Harvard of 1915--that "culture was something to be acquired, like a veneer...
Probably the best solution, from the standpoint of efficiency and in the interests of gracious living, would be a staff of professional waitresses. Radcliffe has no money for such an extravagance, but there is an alternate solution--a system under which all students would pay a slightly higher price for room and board. Girls in need of extra money might wait on tables for a small but reasonable salary. Consequently, the system would create a new area of student employment, in which several girls could make a substantial sum of money each year. The program would also free those...