Word: parred
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Dates: during 1930-1939
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Meantime the influx of gold gradually had its expected effect on foreign exchange. The franc mounted from 6.52? to 6.57?, approached its new par of 6.63? while the dollar fell correspondingly. The pound, which has no fixed gold value, was up from $5.05 to $5.08. As the dollar approached its new par, the profit in importing gold gradually declined, which in turn promised to reduce and eventually stop gold imports...
...gave the Japanese exclusive rights to certain waters, especially those near the canneries they had built on Russian soil. It kept them absolutely out of other bays, inlets and river mouths. It required Japanese bidders to buy and deposit Russian bonds as security. Later, with the yen still at par (50?) and the ruble an unknown quantity in foreign exchange (although having an official gold parity value of 51? within Russia),. the Soviet Government broke all precedent by fixing a ruble-yen rate of exchange at 32.5 sen (16?). Meanwhile, Russian fishermen, starting with one-fifth of the business...
...always popular with timid investors in any period of rising prices because they offer a bond's stability of principal and income together with the speculative possibilities of stock. Last week on a when-issued basis Water Works' new bonds were promptly bid up to 5% above par, Central's 17½% above. Both issues are the first major financing in their respective fields since the Securities Act. Water Works' bonds carry the full civil liabilities imposed by the Act but Central as a railroad is exempted from filing a registration statement...
...praiser of times past, McConaughy thinks U. S. reverence for the Founding Fathers much out of place, dubs them the "Funding Fathers." When Congress decided, during Alexander Hamilton's treasuryship, to redeem at par value the nearly worthless certificates with which the Revolutionary Army had been paid, fortunes were made by many a businessman and politician who got to backwoods scrip-owners before the news did. Twenty-nine of the 64 members of the House of Representatives got a share of the pickings. Few great names (Washington's is an exception) escape McConaughy's scorn. Few schoolboys...
With obvious pride in its achievements, the annual report of the Carnegie Foundation for the Advancement of Teaching scores a feeble bull's eye by asserting that one-third of college seniors are intellectually on a par with high school students. The report then dissolves into 90 pages of general discussion of educational ills and suggests the usual generalities by way of improvement. Despite the mass of blundering detail and despite the Foundation's failure to think any of its problems to practical conclusions the report does raise, if not appreciate, the fundamental problems of American education...