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Usage:

Light Pound. The Newpacot Corp., exporters, advertised in the Wall Street Journal for anyone "interested in purchasing ?67,500 blocked sterling in London at a big discount." President C. Y. Wang, up against the international dollar shortage, explained that the "big discount" was "10% or more" on the official rate of $4.03. The New York price for sterling notes is $3.20 but an individual can only take ?20 into England...

Author: /time Magazine | Title: STATE OF BUSINESS: Facts & Figures, Jun. 30, 1947 | 6/30/1947 | See Source »

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