Word: pound
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Dates: during 1950-1959
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Writing "In Praise of Dissent" in the New York Times Book Review, ex-Librarian of Congress Archibald Mac-Leish, now a Harvard professor of literature, tipped his mortarboard-with reservations-to Fascist-embracing Poet Ezra Pound and his eleven latest Cantos, composed in the Washington hospital where Pound has spent eleven years as a mental patient, adjudged unfit to be tried for treason in 1945. MacLeish freely admits: "Some of his dissents have been merely strident: his raging at Roosevelt throughout the Cantos sounds as though it had been composed by Fulton Lewis Jr., and his attacks on Churchill...
...capture a hill, it is better to take it in one go rather than attack three or four times. You lose fewer men that way." Thus, last week, International Monetary Fund Director Per Jacobsson explained the fund's $1.3 billion loan to Britain to prop the Suez-battered pound. Instead of help in drib lets, Britain asked for and got the largest loan permissible under the fund's rules...
...next day the loan began to have its hoped-for effect. The pound steadied in the London money market, rose from $2.78¼ to $2.78⅝ Speculators who had been selling the pound short in the belief that it might be devalued, began withdrawing from the attack. Further indirect support is almost certain in the shape of a U.S. Export-Import Bank loan, possibly as high as $700,000,000, to help finance Britain's foreign trade...
...Help. The save-the-pound operation would have been impossible without firm support from the U.S. Treasury, the wealthiest and most powerful of the fund's 60 members. But it involved no new out lay by the U.S.; Washington had already subscribed the money to the fund as part of its quota, just as Britain had subscribed $1.3 billion, and now the U.S. simply made the cash available. This way of helping Britain suited Treasury Secretary George Humphrey; he did not have to ask Congress for the money. The U.S. decision to use the fund as the main instru...
...introduction to a critique of the eighty-fifth to ninety-fifth Cantos of Ezra Pound, MacLeish deplored the tendency of modern mass communication to express only the obvious, because of the need to cater to the "mental mass." The recent gains of such mass media might indicate the death knell for the printing press, he continued, except for the growing importance of books for expression of dissent...