Word: money
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Dates: during 1960-1969
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...through Cameroon to preside at confirmation ceremonies. He is also laying plans for a new center for all kinds of handicapped Africans. This fall, Leger will return briefly to Montreal to receive Canada's $50,000 Royal Bank Award for humanitarian achievement. Léger has earmarked the money for his center, for which he hopes to raise an additional $1,000,000 in Canada. He regards the center as a kind of beau geste that will inspire others to help Africa help itself. "I have always believed in symbolic action," says Léger. "One man cannot accomplish...
...needed to clear his throat-but the husky croak had a strange appeal for people who were sick of slick styling. The books and records came flooding out-and sold. McKuen is hardly modest about it, but why should he be? He is deliberately vague about how much money he made last year ("Two million? Three million? Four million? I don't know"), but he claims proudly that he sold 2,000,000 albums in 1968. "That's more than Andy Williams, more than Tony Bennett." The set for his television special, he says, "was the biggest single...
...TIME, May 9). Then, last week, the attack on the franc turned into a far more disruptive rush to buy West German marks. Convinced that economically potent Germany must soon raise the official value of its robust currency, speculators and more conservative businessmen all over the world swapped their money for marks in the expectation of a quick profit. A speculator who converted $2,500,000 into marks, for example, stood to net $190,000 if the mark's value were raised by 7%, as had been widely expected...
Unequivocal Decision. As the flood of funds into Germany grew to $3 billion by some estimates, near panic swept European currency markets. Present arrangements call for each Western government to keep the official price of its money within 1% of its stated value. In an effort to hold the line, Denmark and Norway suspended all dealings in foreign money. France, Britain, Italy, Belgium and other countries were forced to dip into their reserves and sell dollars to maintain the official price of their own currencies. Despite all this, in stunning defiance of the world's financial experts, West Germany...
...French are bound to feel that the Germans are trying to force them into devaluing just after their June 1 presidential elections. The British rightly fear that their fragile pound will come under renewed speculative attack. Britain's foreign debts far exceed its reserves of gold and foreign money, and sterling may be able to cling to its $2.40 rate only if international creditors give the British more time to repay...