Word: primed
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Dates: during 1950-1959
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Maxwell Gluck, Ambassador-designate to Ceylon, who "brought glee to Democrats, made Republicans glower when he admitted that he could not "call off" the name of Ceylon's Prime Minister Solomon West Ridgeway Dias Bandaranaike (TIME, Aug. 12). Said Dulles of this incident: "Now, the question of the selection of any particular person depends primarily upon whether he has integrity of character, whether he has a sharp and quick intelligence, and whether he is genuinely devoted to the public service. We believe that out of those three qualities can be made a competent and efficient ambassador worthy to represent...
Actually, Zik's pique was probably directed less at the order providing home rule for only half of Nigeria than at the fact that if the rest of Nigeria gets home rule by 1960, he will probably not become independent Nigeria's first Prime Minister. Most likely to be chosen by the federal House of Representatives when it convenes next month is a leader from the more populous but less advanced Northern Region, Abubakar Tafawa Balewa, currently federal Minister of Transport. Nigeria's north is Moslem, and so conservatively Moslem that its devout regard Egyptians, Turks...
...about soft spots in the economy, the nation's bankers last week gave solid reassurance of the continued strength of the boom. The demand for credit for expansion of all kinds is still so great-and money so tight-that Manhattan's Bankers Trust Co. boosted its prime rate for loans from 4% to 4½%. Banks around the country soon followed. Two days later the Federal Reserve Board approved a boost in the discount rate by four of its twelve district banks from 3% to 3½%. The new Fed rates, highest since 1933, were designed...
...hoped to put off its increase, the seventh since April 1955 (when the rate was 1½%) until fall to make it easier for the Treasury to refinance the $8.1 billion debt coming due in September and October. But the increase in prime rates, plus the fact that borrowings from the Federal Reserve system had soared from $553 million to $1 billion in one week forced the Fed's hand. This seemed solid evidence to the Federal Reserve Board that the real danger is still inflation-and the boom still has plenty of steam...
...necessary majority. Malaya's new ruler will be Tuanku Abdul Rahman, of the Malayan state of Negri Sembilan. This is sure to cause endless confusion, because the present Chief Minister of the Federation of Malaya is also named Abdul Rahman, and will continue in office as Prime Minister after independence. The name is a common one in Malaya, and they are not related. When both were law students in London, friends had difficulty with their honorifics-the newly elected Paramount Ruler is Tuanku (applied only to rulers and sometimes their eldest sons), while the present Chief Minister is Tengku...