Word: poundings
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Dates: during 1950-1959
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...seems a fit time to point out the rather embarrassing fact that the U.S. has really no right to look askance at Russia for her abominable treatment of Pasternak when the American Government is guilty of keeping Ezra Pound under lock and key during twelve years, for political dissension...
...Organization for European Economic Cooperation to discuss some highly private business with West German Economics Minister Ludwig Erhard and French Finance Minister Antoine Pinay. The fruits of that chat were harvested late last week, when the British treasury laconically announced that it had decided to make the pound sterling "externally convertible...
Since British subjects will still be rigidly limited in the amount of sterling they can convert into hard currencies, the British action falls short of true convertibility. But henceforth, foreign businessmen will be able to change pounds freely into dollars (at an official rate ranging between $2.78 and $2.82). The result, so London hoped, would be to maintain the pound's position as Europe's leading medium of exchange-a vital matter to the British, who. with only 4% of the world's money, do 40% of the world's banking...
...highpriced to compete freely-as they must within the six-nation Common Market-against those of Germany, Italy and Benelux. Now, in addition to devaluing the franc, France had also to make it convertible-or else face a capital flight away from the franc to the convertible pound or Deutsche Mark. Unlike Britain, whose gold and dollar reserves are at a seven-year high, France is running a $60 million foreign-trade deficit every month...
...fines imposed on A.D. club members for failure to attend functions he will be failure to attend functions he will be unable to participate in Varsity games. Kissinger returns from Cuba to become Harvard's defense coach. The Glenn L. Martin Co. announces the successful launching of a seven-pound Vanguard satellite which goes into orbit around Sputnik...