Word: pound
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Dates: during 1930-1939
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...never will. After all, as he himself once murmured, there is the career, the career." Gertrude Stein once told him: "Hemingway, after all you are 90% Rotarian. Can't you. he said, make it 80%. No. said she regretfully. I can't.'' Of Ezra Pound her criticism is even more cavalier: "She said he was a village explainer, excellent if you were a village, but if you were not. not." Glenway Wescott "at no time interested Gertrude Stein. He has a certain syrup but it does not pour." But she thinks F. Scott Fitzgerald "will...
...July and August 1931, so many people sold pounds sterling and bought francs or dollars, so few did the reverse, that a flood of gold left England. To keep the Bank of England from being squeezed completely dry, Britain stopped gold payments, let the pound slide. Later the Government created an equalization fund of ?150,000,000 (increased last May to ?350,000,000), which was used by the Bank of England as the Government's agent to buy sterling when others sold, sell when others bought-keep the pound from fluctuating. By this means during the last...
Last week pressure once more hit the pound. Bear speculators on the Continent, tasting blood from their successful mauling of the dollar, turned once more to sterling. The pound gradually receded from 85 francs to 83¾ with the stanch British bolstering it every time it dropped a sou. Then came a day when the pound dropped and the British sold francs, again and again, 10,000,000 at a time-and still the pound dropped. In two days trading the pound fell two more francs...
...official announcement was made but London and Paris knew that the Equalization Fund, meeting something too big for it to handle, had stepped aside to let the pound again "seek its natural level." What that might be none knew, but at 81¾ francs the pound was only 1¼ francs above its all-time low. This week fox-bearded Governor Montagu Norman of the Bank of England, having pleasantly enjoyed himself at Bar Harbor, Me., was to have an interview with President Roosevelt at the suggestion of Governor George Harrison of the Federal Reserve Bank of New York. Britons...
Cause of Senator Imai setting out as a silk suitor was Depression in the silk industry. In 1923 (after the Japanese earthquake) silk touched a high of $10.20 a pound. From then till 1930 it remained mostly in the $5-$7 range, but Depression put it on the skids. In the winter of 1931 when silk fell to $1.91 a pound Japan went off gold-but silk prices still went down. In June 1932 they touched $1.21. Last March silk was selling at $1.10. U. S. silk mills were operating at only about 55% of normal. Then came threat...