Word: loans
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Dates: during 1950-1959
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...pledge and swore off abruptly. Bolivia launched a determined attempt to force its currency, lately worth around 10,000 bolivianos to the dollar, back up toward its 1951 value of 200. The tools to be used: a drastic stripping-away of artificial economic controls, and a $25 million stabilization loan.* The boliviano's inflation is not yet a classic like the German mark after World War I, when prices multiplied 1.2 trillion times. But in recent months the boliviano has been clearly and dramatically on the skids. Since March the government has imported 55 tons of freshly printed currency...
House Cleaning. The stabilization loan announced last week came about after Bolivia, in despair, got the services of a U.S. consultant named George Jackson Eder, legal counsel for International Telephone & Telegraph Corp. and an old Latin American hand. The sum, equal at the present 10,000-to-$1 boliviano rate to nearly double the value of the 140 billion bolivianos now in circulation, should be enough, if carefully fed into the dollar market, to roll the boliviano well back. The experts guess that the boliviano's realistic rate will turn...
...general has to capture a hill, it is better to take it in one go rather than attack three or four times. You lose fewer men that way." Thus, last week, International Monetary Fund Director Per Jacobsson explained the fund's $1.3 billion loan to Britain to prop the Suez-battered pound. Instead of help in drib lets, Britain asked for and got the largest loan permissible under the fund's rules...
...poems; so she devoted the first portion to a chronological sampling from Song of the Happy Shepherd through the "Crazy Jane" poems. Later came selections from James Stephens, Padraic Colum, Brian Merriman, Padraic Pearse, the prolific Anonymous, and others. With the able assistance of Colgate Salsbury '57 (on temporary loan from Elsinore), she also included the love scene from Yeats' early Faustian drama, The Countess Cathleen...
...Angeles, for example, only the Bank of America still handles FHA loan packages in any quantity. Chicago's Merchants National Bank, which once had as much as 75% of its mortgage portfolio in VA and FHA homes, has cut them out entirely. As for life insurance firms, says President Maynard Harris of Boston's Franklin Savings Bank, "they are not going to invest in FHA when they can buy bonds yielding as much and buy conventional mortgages yielding more." Neither will savings and loan associations, which currently guarantee a 4% interest payment to depositors in some areas, thus...