Word: pound
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Dates: during 1930-1939
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...Chamberlain's proposal it took more than $4.85 in depreciated dollars to buy an English pound. He offered to convert at a rate of $3.85-thus giving a premium of one dollar in every pound to bondholders willing to convert. This premium, Mr. Chamberlain told the House of Commons, would be paid because of His Majesty's Government's "moral obligation" to compensate holders of the bonds injured by the U. S. Congress' cancellation of their "gold clause." Up from a Labor bench popped Sir Stafford Cripps. "This is the first time," he shouted, "that...
French editors promptly revived their theory of a "war" between the dollar and the pound, with both President Roosevelt and His Majesty's Government trying to raise home prices by forcing their own money lower. Technically the rise of the dollar and the fall of sterling was supposed to have resulted from the fact that U. S. holders of the 5½% British bonds sold sterling short last week at the current market rate of $4.85, knowing that through Mr. Chamberlain's bond conversion they would be able to cover at $3.85. Short sales of course depressed...
...reign of Charles Edwin Mitchell the title of "world's largest bank" passed from London to Manhattan and National City Bank. When Chase National Bank swallowed Equitable Trust three years ago, the title passed from Wall Street to Pine Street. Last week it returned to London. Rising pound and slumping dollar had placed not one but three British banks ahead of the biggest bank...
First of Britain's great banks to report June 30 condition was Barclays. Its total resources of $1,971,900,000 topped Chase by $250,000,000. Chase would have lost its title before this had it not had the advantage of a depreciated pound between 1931 and last April, for Chase resources in the last three years have shrunk steadily from a high of $2,600,000,000 to $1,700,000,000. In Britain, where branch banking is almost the only banking, the "Big Five"- Midland, Lloyds, Barclays, National Provincial, Westminster-control 80% of the business...
Under this new plan a radical change in the diet occured. Previously breakfast had consisted of bread and beer, supper, milk instead of beer; and a pound of meat for each man to make a satisfying dinner. The University Comptrollers however, went in strongly for lamb, just as our present stewards have recently done well by the strawberry trade, and the students quickly tired of the new regime. They crowded around the Steward's rooms and set up loud bleatings and baaings until the offending lamb was varied with other meats and vegetables. But the food continued poor in quality...