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...raising the U.S. discount rate from 3-s% to 4% in response to a hike in the British discount rate-the interest that central banks charge their members-the Federal Reserve Board showed how closely interwoven have become economies that are oceans apart. By helping to rescue the faltering British pound (see THE WORLD), the U.S.'s money managers demonstrated how tightly bound together are the fates of the Western world's two major currencies. "It was an orderly operation all the way," said William McChesney Martin Jr., chairman of the Federal Reserve, "and showed that the bankers...

Author: /time Magazine | Title: Money: A Heroic Defense | 12/4/1964 | See Source »

Pakistan's entire economy is tightly interwoven with jute, which is second only to cotton as the world's most widely used natural plant fiber. Last week Pakistan's vital jute industry was snarled in a strike of nearly 60,000 workers who are demanding higher wages. Some mills were the scenes of clashes, and others resolutely evicted all workers. The mood was different at the mills of one jute maker, who has retained the good will of his striking workers by continuing to provide them with their regular fringe benefits of inexpensive company housing and rice...

Author: /time Magazine | Title: Pakistan: The Jute King | 12/4/1964 | See Source »

...slender pejorative burden of Butor's book is contained in interwoven excerpts from a terrifying Salem witch trial, historical notes on the ill-treatment of American Indians, liberal quotes from the prospectus of Freedomland, U.S.A., and offerings from the views of various Southerners (real and imagined) on the Negro. Among them is one from that conscientious democrat Thomas Jefferson, who concluded, ". . . their inferiority is not the effect, merely, of their condition of life...

Author: /time Magazine | Title: Books: Watered Whine | 7/19/1963 | See Source »

...great sovereign state' with design and emphasis, for I reject the view that Britain and the Commonwealth should now be relegated to a tame and minor role in the world . . . In this century of storm and tragedy, I contemplate with high satisfaction the constant factor of the interwoven and upward progress of our peoples. Our comradeship and our brotherhood in war were unexampled. We stood together, and because of that fact the free world now stands...

Author: /time Magazine | Title: The Presidency: Isn't It Great? | 4/19/1963 | See Source »

...nothing but praise for Frost whom they had met the day before. "Meeting him is one of the brightest memories I'm going to carry back with me. Robert Frost is a Man with a capital M, and also a genius--the two are closely interwoven," she said...

Author: NO WRITER ATTRIBUTED | Title: Russian Writers Discuss USSR Book Censorship | 1/25/1963 | See Source »

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