Word: money
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Dates: during 1950-1959
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...empire for ideological safety. So Njoroge made it the long way around, via Pretoria (B.S. at the University of South Africa) and London, peddling cosmetics and doing odd jobs. In London, broader-minded officials gave him a permit to study in the U.S., but Njoroge had to borrow passage money (he still hopes to pay back the ?60), arrived in the U.S. in the fall of 1951 with just 3?. A fellow passenger lent him taxi money and $1.50 for a Y.M.C.A. room; the Committee on Friendly Relations Among Foreign Students lent him $70 bus fare to get to California...
...storm, but it left the U.S. Weather Bureau's hurricane forecasters in a state of mild exaltation. Well before Cindy hit the coast, they predicted that she would be a mild blow and advised Carolinians to relax. The dead-accurate forecast saved untold time, effort and money, and to meteorologists, it was one more bit of evidence of how far their inexact science has advanced. In 1935 the Weather Bureau duly warned that a hurricane was approaching the Florida Keys. It could say no more. The hurricane proved the most violent in U.S. records, and killed more than...
...world, continue rapid modernization of their plants and equipment. The U.S. has no monopoly on progress; foreign steel tycoons are also fully aware of the need to forge ahead, are engaged in a race whose stake is bigger markets, more efficiency, lower costs. The race requires enormous amounts of money, especially for the U.S., which carries the front runner's burden of keeping the world's biggest steel industry up to the times...
...steel industry in holding its own against foreign competition is the dramatic change that has taken place in the industry since World War II. Steelmen have spent $12 billion for new plant and equipment, poured millions into research. Once a prince-and-pauper industry that lost money at a downturn in the economy, the steel industry has become so efficient that it was able to report healthy profits during the recession (1958: $877 million), while operating at only 60.6% of capacity. So much has the industry changed its complexion that steel stocks, once considered a risky speculation in a cyclical...
...sense of Congress" that the Federal Reserve Board should expand the nation's credit supply by pegging the price of Government bonds. Cried Fed Chairman William McChesney Martin Jr.: "This is an attack on the independence of the Federal Reserve Board. This is a directive for printing-press money...