Word: loans
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Dates: during 1950-1959
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...ready cash, and to sop up excess purchasing power, wispy Fi put on sale 3.5% tax-free government bonds, which as a hedge against inflation will be pegged to the market value of the gold napoleon (last week 3.600 francs). While De Gaulle appealed to patriotism in launching the loan. Pinay remembered the practical side. In the hope of attracting urgently needed foreign exchange, Pinay was even prepared to let Frenchmen buy the bond with previously undeclared - and hence illegal - foreign currency holdings. "That law," explained Pinay blandly, "has never been enforced anyway." De Gaulle himself was hard at work...
...Milanese have set out to cure their sense of inferiority in matters of art. Last week they had on display the most impressive array of Lombard art ever assembled. The exhibit, which took four years to gather, includes frescoes lifted bodily from the walls of churches, oils on loan from all over Europe and the U.S., marble sculptures lowered from the peaks of the Duomo for their first close-up inspection in more than 400 years. An imposing array of 501 objects spread out over 22 rooms of Milan's solemn Palazzo Reale, viewed by more than a thousand...
Both Brazil and Colombia want the U.S. either to set minimum prices for coffee and establish import quotas for each coffee-growing nation or begin stockpiling. The U.S. is not yet ready to go that far. It is willing to grant stopgap aid, e.g., a $103 million loan to Colombia a fortnight ago. And it is willing to work jointly on plans for more orderly marketing. "The U.S. finally has admitted that the problem is mutual," said one Latin American ambassador in Washington last week. "That's quite a change...
Approval of Chile's $25 million came so rapidly that details-including formal signing of the loan agreement-have yet to be ironed out. The Export-Import Bank will probably put up $15 million; the rest will most likely come from Mutual Security Agency coffers. Even the use to which the money will be put is not certain, but basically the loan's function will be to provide a dollar prop for Chile's sagging peso, hard hit by a world slump in copper prices. Last week the peso was so shaky (off from...
THRIFTY AMERICANS put record $1.7 billion into savings at savings and loan associations in first four months of 1958, up 27% from year-ago period. Nation's 520 mutual savings banks report that their deposits in April jumped by $92 million v. $7,000,000 in April...