Word: leveler
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Dates: during 1930-1939
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...Embassy, Paris, dictated two precious paragraphs. After these were handed on Embassy stationery to Premier Daladier. confirming that what he was going to do was no violation of the Tripartite Monetary Accord of the U. S., France and Britain which was signed to keep their three currencies level with each other (TIME, Oct. 5. 1936), Premier Daladier was able to announce devaluation of the franc over the radio and to tell Frenchmen that the pound and dollar would not be devalued to compete with the cut-rate French money he was about to offer...
Laurence Housman's latest memoir of his late brother contains a brief (104-page), eminently unsatisfactory biographical note, whose tantalizing omissions are half discretion, half plain lack of knowledge; a few unpublished letters; 31 poems, their general level far inferior to Housman's sensibly strict standard; and the best Housman parody (by Hugh Kingsmill) extant...
...prices, increase in unemployment and lack of a spring upturn. Colonel Ayres decided that the present lull is only the end of the first stage of a major depression. Gloomed he: "The physical volume of industrial production appears to have dropped to more than 40% below the computed normal level in March. . . . There has been only one year in all our history when production averaged more than 40% below normal and that was 1932, at the bottom of the depression. It now seems probable that 1938 will be the most severe depression year in our history except...
...headed by Baltimore & Ohio's fatherly Daniel Willard asked the 21 railroad unions to accept a voluntary pay cut. After three weeks' talk, the unions agreed to a 10% cut. Three years later, with recovery thundering down the tracks, employes' pay was restored to the 1932 level; last year it was raised another 7½%. Last week, facing a crisis considerably worse than 1932, the railroads again asked the 21 unions to accept a pay cut. Snapped Chairman George Harrison of the Railway Labor Executives Association: "I never heard of such a silly thing in my life...
...owners restore the collateral to the 150% figure within 30 days. When the Vans were Chesapeake's owners, Guaranty never exercised this power, always gave its proxies to the Vans on request. Now Robert Young & friends own Chesapeake, the collateral is once more below the 150% level, and Guaranty has changed its policy...