Word: hoard
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Please a G.I. The American occupation was no ill wind to Mikimoto. He began selling pearls from his hoard to G.I.s. When black-market prices soared to 30,000 yen ($2,000) for a string, U.S. authorities stepped in, ordered Mikimoto and other Japanese pearlers to sell only to the U.S. Army for sale in post exchanges. Prices now vary from 300 to 2,000 yen a string...
...finally forced to give in to the silver-loving Congressmen, led by Nevada's Pat McCarran. They had been able to hold up the Treasury-Post Office appropriations bill, threatening the pay of 552,000 federal employes. Now the Treasury can again sell silver from its vast hoard...
...long will the postwar boom last? The rosy estimates of three to five years have been based on one solid economic fact. During the war, U.S. consumers piled up $90 billion in savings, now hold $130 billion. This huge hoard, according to the economic witch-doctors, would be poured out-to fuel the boom. But last week, in a gloomy and significant report, the conservative U.S. Bureau of Agricultural Economics said...
Unwieldy Inventories. And there were other troubles. Getting the services to declare items surplus was still a problem. Example: the Army had 25,000 almost-new passenger cars rusting and rotting in an Atlanta depot. When this hoard was publicized, the Army reluctantly gave up only 7,000 of them, and they were the worst...
Short on silver throughout the war, U.S. silver users have been hit even harder in peace. Production of aircraft engine bearings, silverware, dental fillings, film emulsions, etc. is being crippled. The estimated needs for 1946 (125 million oz.) could be easily met out of the U.S. hoard. But the silver bloc will not let the U.S. sell...