Word: ironing
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Dates: during 1950-1959
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...cast-iron conservative, Treasury Secretary George Humphrey found himself in an embarrassing and awkward role last week: defender of the biggest peacetime budget in the nation's history. The budget that President Eisenhower had just sent to Congress called for expenditures of $71.8 billion in 1958, nearly $3 billion more than in fiscal 1957 (ending next June 30). It was a balanced budget, but the estimated surplus, $1.8 billion, was too narrow to permit tax cuts. Ike proposed to use it to pare a chip off the $270-odd billion national debt...
...their only way to protest the prospect of reduced wages in plants where production fell below the "norm." As the strike developed, Soviet tanks and armored cars (guns uncovered for the first time in weeks) blocked off Budapest's factory area. When 5,000 Csepel Island iron and steel workers demonstrated in the streets, trigger-nervous Hungarian militiamen began shooting in the air, bounced a few volleys into the crowd. Casualties: two dead, at least four wounded. Two days later the Kadar government decreed the death penalty for strikers...
...conventional type. As the train from Boston rolled into the outskirts of Manhattan, it was right on time-in itself a subject for congratulations on the oft-late New Haven.* But suddenly the devil got into the Dan'l Webster. A balky cast-iron shoe on the rear diesel rubbed on the third rail, started a fire that stopped the train in its tracks. After 25 minutes the fire was subdued, and so was President Alpert. Said he, as the Dan'l Webster moved into Grand Central Terminal. 55 minutes late: "If this train had proceeded another five...
...exploit the old copper mines around the ancient spa of Montecatini, the company perked along modestly until 1910, when hard-driving Guido Donegani, a young mining engineer, moved into the presidency and set out to build a self-contained empire. He began mining the area's neglected iron pyrite deposits (for sulphuric acid), then built a plant to process the pyrite wastes, and extracted 600,000 tons of pig iron yearly-a boon for iron-poor Italy. He made blasting powder for his own mines and turned Catini into Italy's No. 1 explosives manufacturer. Long before industry...
...satellites could blame their sorry economic plight directly on Russia, which conducts 1/5 of its foreign trade with Iron Curtain countries-mostly to its own advantage. Reversing the usual form of colonial exploitation, in which colonies are used as sources of raw materials, Russia feeds the satellites raw materials, takes the finished products they manufacture. Czechoslovakia, for example, did 5.5 billion crowns ($770,000,000) worth of trade with Russia in 1955, giving engineering products in return for metals, petroleum, rubber, timber...