Word: pound
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Dates: during 1940-1949
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...traditional 285-pound Holy Cross tackle faded into obscurity yesterday as the Crusaders came up with a bright new multi-threat backfield star, and walloped the Harvard freshmen...
Squirrel & Cage. Chancellor of the Exchequer Sir Stafford Cripps had opened for the government with an able but unexciting defense of his devaluation of the pound. When his turn to speak came, Winston Churchill peered owlishly over his spectacles and said that the Labor government's policy and makeshift expedients had brought the nation close to bankruptcy. A Laborite heckled: "Sell your horse!" Churchill shot back: "I could sell him* for a great deal more than I paid for him, but I am trying to rise above the profit motive...
...devaluation of the British pound also hit the Italian lira. The Italian cabinet had decided not to devalue the lira, which had already been drastically devalued two years ago, but to let it find its own level on a more or less free market. Forthwith the lira fell from 630 to more than 700 to the dollar. The Communists thereupon challenged Premier Alcide de Gasperi's government to parliamentary debate...
...Washington after the pound devaluation, Pella had negotiated to convert into gold some of Italy's dollar reserves, accumulated through exports by Italy's hard-working industry. The U.S. had sold him the gold at $35 an ounce (the open market price in Italy is about $50). Gold now backs 17% of Italy's currency. Technically, the difference between gold reserves and dollar reserves is not great, but psychologically Pella's stroke worked. Impressed, the Chamber of Deputies gave the government a two-to-one confidence vote...
...Hollywood still had something to worry about. Income from foreign box offices would suffer from devaluation of the pound. MGM's Louis B. Mayer estimated dourly that his studio's overall receipts would be cut by nearly 10%. He ordered a new economy drive, but, for the time being at least, M-G-M and the other major studios hoped to get along without any layoffs...