Word: merchant
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...nearer the U.S. came to V-J day, the more pressing became one of the nation's most complex problems-what to do after the war with the gigantic war-built U.S. Merchant Marine? Much had been said about it, and little done...
Today the U.S. owns 62% of the merchant tonnage of the world but still it does not rightly know how much of a merchant marine it wants to maintain after...
...What Price? The report gave no solution to Government control through subsidy, even though the writers admitted that the arrangement had never been "effective." But they were convinced that the U.S. somehow should maintain a strong position in the shipping world. They would dispose of some war-built U.S. merchant ships, but not with the sweeping gesture of Lew Douglas, who wants to go back virtually to a prewar status...
...inflation-plagued Shanghai, a Chinese merchant went to his bank to draw out 800,000 Chinese dollars. In a city where a postage stamp costs $1,600, this seemed a routine transaction. But an unreasonable bank clerk refused to hand over more than $100,000, and that in $10 bills. The reckless merchant demanded his money, even if it had to be in 50? bills. He got it-$800,000 in small bills...
...like receiving the price of a Rolls-Royce in pennies. Resignedly, the merchant had his currency baled, then called in a wastepaper dealer. After carefully weighing the bales, the dealer paid the merchant $850,000-more than the face value of the bills...