Word: hoards
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Dates: during 1950-1959
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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...
...Russian Help. This month, in one of those outbursts of recriminations that occur in Mexico City's colony of Spanish ex-Loyalists, Indalecio Prieto stirred up the long-buried story of the gold hoard, accused his fellow exile, Juan Negrín, of complicity. This time, Franco's Spain picked up Prieto's accusations. In formal notes to the U.S., Britain and France, Franco's Foreign Minister protested against Russian use of the Spanish gold in European trade. Since the Russians have undoubtedly melted down the coins and removed the Spanish mint marks from the bullion...
...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...