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...Premier Ferenc Nagy and his fellow Cabinet members had paid their return trip from New York to London in Hungarian currency, it would have cost them 14,250,000,000,000,000 pengös apiece.*In Hungary's abysmal inflation- the worst in modern history-one U.S. dollar last week bought 38 trillion pengös. Bookkeepers used a new word: "Mil-pengö" (one million pengös), because their figures no longer fitted the ledgers...

Author: /time Magazine | Title: HUNGARY: Mathematics for the Millions | 7/1/1946 | See Source »

...Budapest. Aged (76) Regent Admiral Nicholas Horthy had asked the Allies for an armistice. Thereupon Major Ferenc Szálasi, Hungarian Nazi leader, took over the Government. The Germans took over Horthy, carried him off to Germany, together with Hungary's national gold reserve of 80,000,000 pengö ($27,500,000). But the Hungarian peace delegation had already flown to Moscow...

Author: /time Magazine | Title: HUNGARY: Nightmare | 11/20/1944 | See Source »

...desks of child students in Chengtu, the cultural capital of western China, 150 miles northwest of Chungking. Children between the ages of seven and 13, under their teachers' guidance, expressed their reactions to war, caricatured their Japanese enemies, drew political cartoons. One drawing, by 13-year-old Peng Teh-chuan, made use of the Chinese proverbial phrase Giving Charcoal in Snowy Weather ("A friend in need is a friend indeed") by picturing a forceful Roosevelt rushing aid to a stern Stalin...

Author: /time Magazine | Title: Art: Battles and Startled Geese | 4/17/1944 | See Source »

Today XGOY counts its worldwide fan mail by the thousands of letters. Its program director and prime mover is balding, begoggled U.S.-educated Peng "Mike" Lo-shan. Eleven hours a day he and his polylingual staff tell the world about China's war in 14 languages and dialects. U.S. propagandists, who cannot reach the Japanese people by short wave or Australian medium wave, are much impressed with the Voice of China. Last week Director Peng Lo-shan was en route to the U.S. to discuss more ways of propagandizing...

Author: /time Magazine | Title: Radio: China Speaks Japanese | 12/28/1942 | See Source »

...becomes more deeply involved in the lives of war refugees, the calm, breadth and mercy of Ch'an Buddhism more and more profoundly draw and disturb her. When monkish Lao Peng is so unlucky as to fall in love with her, that only makes things worse. Their difficulties are illuminated by several passages of straight theology which suggest how international is this war's religious revival...

Author: /time Magazine | Title: Books: War and Spirit | 1/19/1942 | See Source »

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