Word: peakes
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Dates: during 1950-1959
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THIRTEEN years ago the U.S. was at the peak of history's biggest demobilization of armed men. In a twelve-month period, no fewer than 10 million soldiers, sailors and marines charged through U.S. discharge centers, gleefully but uncertainly eyed themselves in civvies (which seemed ungainly, loose) and tried to pick up the tricky cadence of life in a competitive society. The homecoming was fraught with misgivings: never before had so many been away from normal life for so long. Could they ever catch up? Could they ever repair their "interrupted lives...
...bases for confidence in the immediate future are flimsy." At first reading there was indeed cause for worry. By tradition Canada follows the U.S. economy, and signs seemed to indicate that she would follow the U.S. into recession. Factories were on short time, unemployment was climbing toward a postwar peak, and the stock market was a growling bear, with prices near the lowest levels in a year...
...near-record levels. Unlike the U.S. Government, Prime Minister John Diefenbaker's Tory government found it feasible to finance antirecession measures. Tax cuts and increased social-welfare payments encouraged consumers to buy at record rates. A $350 million government mortgage-loan program pushed housing to an alltime peak (160,000 starts) and touched off subsidiary booms in a dozen supply industries. A good farm and fishery year pushed exports of wheat, cattle and salmon to high levels, kept foreign money flowing...
...industry after industry picks up speed, industrial production will climb up to its prerecession peak. Items...
Another question mark for 1959 is the state of the nation's foreign trade. To the delight of foreign countries, the new economy's huge purchases kept imports at record rates, though exports plummeted from a peak annual rate of $20.5 billion in 1957 to $16.6 billion the first half of 1958. Gold flowed out of the U.S. at such a rate that there was talk of a flight from the dollar. While exaggerated, the talk underlined the fact that foreign companies are engaged in a vast modernization program, which, with lower labor costs, will give them...