Word: market
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Dates: during 1940-1949
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...time since the Revolution, was now able to send the satellites of Eastern Europe something better than propaganda. Everywhere the winter wheat was ripening. Europe's prospects, plus the likelihood of bumper crops in Argentina and Australia, were already discernible in the break in the U.S. grain market (see BUSINESS). Europe's industry was benefiting in healthier, happier workers. With less coal going into family stoves, there was more for factory furnaces. In the Ruhr, absenteeism was down to three-fifths of last year's mark...
...just another exhortation. Clem Attlee called for a voluntary freeze, but he warned that the government might intervene if necessary. Failure to peg wages and prices, he said, would lead to a pricing of British exports out of the world market. That would quickly mean "mass unemployment and real desperate hunger...
This week, the cap started coming off the biggest item in the average family's budget: food (see NATIONAL AFFAIRS). In the livestock market, hog prices this week dropped $2 to $22.50 a hundredweight, lowest in a year. Consumers waited for cheaper pork. The sympathetic break in hides, fats and oils, and cotton suggested possible future reductions in the prices of shirts, shoes and soap...
...bell clanged on the Paris Bourse and a trader cried: "Buying dollars for 314." Another trader nodded: "I sell $25,000." With this simple transaction, France last week opened its first free legal money market in dollars in eight years. There were few sellers. The Bank of France, virtually the only buyer, bought a mere $150,000 the first day. By week's end, the dollar had inched down from 314 francs to 304, slightly under the black market price...
After the hue & cry over devaluation (TIME, Feb. 9), the trading was anticlimactic. The British and French governments took pains to keep it so, In the black market, the pound was selling for only 750 francs (little more than $2), compared with the official rate of 864 francs (official dollar price: $4.03). To keep cut-rate pounds from being used to buy British exports, Britain set up a new control system in Paris to make sure only pounds bought at the official rate were used in Anglo-French trade. The Dutch and the Belgians were expected to follow the British...