Word: hoardes
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...Dollar Hoard. Avery is tucking into his "bank" every possible dollar in preparation, for the depression which he has confidently predicted for the last five years. When & if the depression comes, Avery will expand. He figures that he will get much more then for his dollars (but he has overlooked the fact, as Chicago bankers like to point out, that his hoard of dollars is worth much less now than five years...
...gone modern in other ways. It started out more of a club than a public museum, open only to those able to pay 25? (the price of a gallon of whisky in those days) for a look. The gallery was deserted, and the first curator complained bitterly that "to hoard up and secrete works of art is an offence against humanity." The Atheneum long ago dropped admission charges. Last week, to make the Atheneum's invitation to the public as informal as possible, a loudspeaker in the court boomed out When It's Springtime in the Rockies...
...present rate of spending, the Bank of England's gold and dollar hoard (down to a precarious $2.3 billion) will have melted away by midsummer. The vast sterling area, which accounts for a quarter of the world's population and half its trade, is heavily in debt. Last week nine Commonwealth Finance Ministers, meeting in London's gloomy old Treasury Building, pledged their countries to earn more and spend less, in an effort to balance the family budget by the end of 1952. Each member nation would slash imports, increase exports, try to control inflation; the sterling...
Still, The Best of the Best is a rich hoard of U.S. writing. Perhaps the one great story is Ring Lardner's Haircut, a caustic glimpse of small-town brutality; it gets better with each rereading. Close runners-up are Ernest Hemingway's My Old Man, a poignant report of a boy's affection for his father, a crooked jockey, and Wilbur Daniel Steele's How Beautiful with Shoes, an eerie description of a meeting between an imaginative lunatic and an inarticulate farm girl. Most notable contribution from the younger generation is Prince of Darkness...
...impressive gesture. Hard-up Britain could have avoided repayment by invoking a clause in the loan agreement allowing it to postpone interest payments. Instead it decided to dip into its dwindling gold and dollar hoard to make good its promise. The Tory government had its own good reasons for honoring the debt punctually. Winston Churchill, due to visit Washington next month, wants to sweeten up U.S. opinion before asking for a bigger share of U.S. Mutual Security funds (perhaps $300 million). "Our principle," explained a Whitehall official, "is that you should always pay your tailor promptly for the first suit...