Word: rates
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Dates: during 1940-1949
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...accused of holding back are now conducting two of Mexico's seven symphony orchestras. His conservatory is full of students able for the first time to get complete training without leaving Mexico (although his critics impatiently say that "it hasn't yet produced one first-rate anything"). This fall the Institute will stage three commissioned one-act operas on Mexican themes. The drama department is drawing crowds. Chávez had cannily priced the tickets just under the cheapest movie in town...
...France, the delegates could lunch on the train and pay in French francs. In Belgium a little later they could eat the same lunch, but the Belgian rate of exchange made the meal cost three times as much. If a delegate had a cup of coffee while the train was in France, he got one lump of sugar. In Belgium, he could have two lumps. In The Netherlands, he got as much sugar as he liked-not because the Dutch have more sugar, but because they have a different tourist policy...
...denied repeatedly that devaluation was coming. When the change came, the public was caught flatfooted. Some drew their bank savings and went on buying sprees. The foreign credit manager of one bank arrived at his office late to find careless clerks doling out precious dollars at the old rate. In the Calle Isabel la Catolica, flooded by recent rains, money changers stood shin deep in water, clinking handfuls of gold coins and arguing prices. They offered six and seven pesos for a dollar and readily went higher. Anxious travelers and others who urgently needed dollars paid 10, 12, and even...
...average Mexican worker makes 1 peso 25 centavos an hour. At that rate, at pre-devaluation prices, he had to work ten hours to buy lunch for a family of five, 72 hours to pay an average rent in the center of the city, 160 hours to buy a suit of clothes...
Puff, Puff. The big surprise was the railroads which, thanks to rate increases, were by & large chuffing along from slim profits into fat ones. For example, Baltimore & Ohio, with a half-year net of about $9,000,000, was up 73%. The Denver, Rio Grande & Western, with a net of $3,583,395, was up 260%. A major exception was Robert R. Young's Chesapeake & Ohio (see below), whose profits were nipped a third by the mine stoppage. Even the small, potato-hauling Bangor & Aroostook, which had not made money in any June since 1935, showed a profit...