Word: levelling
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Dates: during 1940-1949
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...Sighting a "flying saucer" high over Godman Field at Fort Knox, Ky., three National Guard pilots zoomed up in P-51s to investigate. At about 25,000 feet, Capt. Thomas Mantell's plane started to spin, plunged downward, and disintegrated at tree-level. The "saucer" turned out to be a weather balloon...
After bestowing this benign "Well done," Cripps wagged a grandfatherly finger. Even if British production reaches his target-140% of the prewar level-the trading deficit with the U.S. will be running at about $1 billion a year. Without Marshall Plan aid, he warned, Britain's dollars and expendable gold reserve will be exhausted by midsummer. Then Britain will "be driven back upon a policy of immediate self-preservation." Cripps meant that, without further U.S. aid, Britain would have to cut off U.S. food, raw material and machinery imports, fall back on barter pacts with other countries...
...natural level proved to be several steps lower: 3% bonds of 1966 (callable in 1961), for which the Bank had been paying 104½ to yield 2.60% steadied at 102 for a yield of 2.82%. Since government bonds are the backbone of much of the banks' credit, this meant that the price of money had gone up about one-fourth of 1%. In the long run, dearer money tightens credit and cheapens goods. But it would still be a long time before the Bank of Canada's tinkering with the price of bonds affected the price of cabbage...
...especially for them. Critics gave them good marks for diction, blending of voices and clarity of line, and for a welcome versatility of material which the Don Cossack choruses lack. Wrote the New York Herald Tribune's Virgil Thomson: "[This choir] could, without half trying, raise the whole level of our current taste in semi-popular music. It is that good." Columbia Concerts, Inc., which thought so too, has signed the boys to a 140-concert tour of the U.S. and Canada...
...Commission have dissented from the majority which condemned the paralyzing policy of racial segregation in southern colleges. Added to these stumbling-blocks of blind localism and prejudice, is the general inertia over education of the kind which has complacently allowed teachers' salaries to remain at a disgraceful level...