Word: hoard
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...trucks two blocks long stood outside the ornate portals of the Bank of Spain, in Madrid's Calle Alcalá. Bank employees, under the guard of picked Communist militiamen, loaded the trucks with 510 tons of gold, in bullion and coins-the bulk of the Loyalist gold hoard-worth 1.734,000,000 gold pesetas ($566 million). Although Spain's civil war was only three months old, Nazi intervention had made the Soviet-backed Loyalist position shaky...
...Sept. 30, the U.S. was holding history's greatest hoard of unsold food and fibers: $6.4 billion worth, including 377 million Ibs. of butter, 550 million Ibs. of cottonseed oil, 743 million bushels of wheat, 2,000,000 Ibs. of tobacco...
...Thereafter, the Korean presses went on printing currency, and the value of the hwan dropped (on the black market) to 500 and even 750 to $1. Rhee himself showed what he. thought of the sanctity of the official rate by allowing the Bank of Korea to auction off a hoard of accumulated U.S. greenbacks (mostly to Korean importers). The prices paid were around 500 hwan to $1. Still Syngman Rhee would not change the official rate. His decision cost the U.S. military in Korea millions of dollars in unnecessary expense, and gave many South Koreans lush windfalls. In holding...
Agriculture Secretary Benson also told dairymen last week that his flexible support program was working out just as he had hoped. Dairy-products consumption has increased, said Benson, and the U.S. has not had to add a single pound of butter to its 408 million lb. hoard since Sept. 17. Furthermore, overall surplus buying since April, when the new program providing for supports at only 75% of parity went into effect, has been cut some 13% below 1953 levels...
...fiscal 1955 the U.S. will spend $900 million (some $250 million more than 1954) to buy 22 essential stockpile items, from aluminum and diamonds to feathers and fluorspar. By next year, the bulging U.S. war chest will reach a staggering $5 billion, rivaling the $6.5 billion farm surplus hoard. Since the buying was stepped up after the end of the Korean war, a big question has been raised: Is the strategic stockpile a military program, or is it a vast and expensive price-support program for the U.S. mining industry...