Word: nationalism
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Dates: during 1950-1959
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...world's wealthiest nation is booming at such a solid rate that the very measure of wealth-money-is harder to come by than in many months...
Bullish economic news generally tightens the money market, encouraging more borrowers to compete for the available supply. For the nation's bankers, home builders, corporations and consumers, the tightening means that they must pay more to get the money they need to make loans, build houses, expand industry, buy autos, appliances and TV sets. Money has been gradually tightening up since spring as the economy spurted to new highs; last week it got a heavy turn of the vise...
...same time, banks find themselves with relatively less money to lend. In the nation's mutual savings banks, total deposits rose $585 million in the first six months this year to $34.6 billion -but the growth during the same period last year was $1.3 billion. Instead of putting and keeping their money in savings accounts, people are attracted by higher returns in the stock market or Government bonds. The rate of growth of time deposits has been falling off because corporations, state and local governments, and foreign depositors can now get nearly 3½% on a 91-day Treasury...
Thomas Mellon Evans had a reputation as a tough boss-but hardly anyone realized quite how tough. When he took over Chicago's 104-year-old Crane Co., the nation's largest maker of valves, pipes and pipe fittings, last spring (TIME, May 11), employees braced for a shakeup. They were hardly prepared for what followed. Last week Crane announced the resignation of Norman F. Garrett, the fourth of its six vice presidents to go in three months. Five directors have resigned since Evans took over as board chairman, paring the board down to six men. Burly, rough...
Image of America, by R. L. Bruckberger. A thoughtful French priest writes what is outrageous heresy to most of his nation's intellectuals-a warm, clear-eyed appreciation of the U.S. as the 20th century's true revolutionary force...