Word: money
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Dates: during 1950-1959
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Governor Williams' proffered solution to the money worries was a graduated state income tax, and that sent shudders of horror down Republican spines, and for that matter, down the spines of many of Michigan's industrial workers who are no strangers to income tax forms. As the tax squabble dragged on for months, even some Democrats and union people began to doubt the worth of Williams' plan. Even when the Governor had a chance to let the voters decide between an income tax and a 1% "use" tax, to be piled atop the existing 3% sales...
...brought out its stereo tape-cartridge, the first successful one in the industry. Burns moved RCA strongly into circuitry, controls and computers. RCA has developed the first medium-sized, all-transistor computer, hopes to find a big market in paper-clogged Wall Street. Burns took over RCA's money-losing color-TV project, cut losses in half last year, expects soon to put it in the black. Result: RCA sales have jumped sharply for the first time in four years; first-half sales rose 17%, profits...
...effects of the Treasury's reliance on short-term borrowing in the midst of an overall tightening of the money supply (TIME, Aug. 31) were readily apparent. By drawing $1.6 billion in new cash during the last month, Treasury financing-despite Federal Reserve Board buying support-boosted the rate on 26-week Treasury bills to a record 4.15%. The yield on most long-term Government bonds was more than 4% for the first time since the 1930s, and some yields rose as high as 4.8%. Corporate bond yields also rose; unable to sell their public-utility offerings...
Unless Congress acts, the troubles of the Treasury and the money market will worsen in October and November. Then, to raise about $7 billion to finance the seasonal deficit and another $8.9 billion to meet debt coming due, the Treasury will have to go to market with more short-term issues...
...friends, he realized afresh how moving was man's capacity for hope and how strong was man's capacity for life. Man's will to live was a familiar story to Mydans: in 1940 a shrieking, clawing Chinese woman in Chungking had begged for money as she held aloft her dead infant, waving it by one foot, "like a butcher with a plucked chicken." Mydans gave her some money, and later that night, belly tight with food, Mydans came shamefully back to the spot where he. had seen her. There she sat, a bowl of white rice...