Word: lowe
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Dates: during 1940-1949
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Warburg Professor of Economics Gottfried Haberler, who handles Harvard's graduate course in International Trade, calls the pound devaluation a "courageous" move and thinks it has a good chance of completely wiping out Britain's dollar deficit by 1952, providing low British incomes don't force general wage rises...
...sense the soviet countries cannot affect devaluation because the volume of East-West trade is now low for obvious political reasons. "If England wanted to sell to Russia, devaluation would prove a big help; but as long as trade is so small it does not matter...
Only in housing were the planners not moving as fast as some people thought they should. The federal housing bill would help, but estimates were that 60,000 Pittsburghers needed low-rent housing. The best Pittsburgh could hope for was adequate housing by 1970. R. K. Mellon, Davy Lawrence and the others maintained that first things came first. Industrial Pittsburgh had to be rescued first; that was the foundation of the whole town's economy...
...they approach one another slowly, they begin to react before they are fully in contact. The heat developed drives them apart prematurely, and the reaction stops. In the bomb described in the Smyth Report, the masses were driven together, probably in millionths of a second, by some such "low-order explosive" as TNT. Even if the Russians did not do as well as U.S. scientists, their less efficient bomb would still produce an "atomic explosion...
...there was a temporary spate of bargains in British goods. Many department stores reduced their British goods, bought at old pound prices, as much as 25% to clear them out in preparation for lower prices. But many of the new prices would not be anywhere near that low, and some would not change at all. Scotch distillers, who were already selling as much whiskey to the U.S. as they could make (3,000,000 cases a year), promptly upped their export prices 30% to cancel out the entire slash in the pound. Many another British maker of goods with...