Word: redeem
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Dates: during 1950-1959
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...dictator Batista's regime; his vague ideas materialized into specific proposals, set down for the first time at his trial. He devoted scarcely five minutes to his own defense, which his accusers had hoped would occupy most of his time. Instead he pleaded that the judges, corrupt Batista stooges, redeem themselves by following him, Fidel Castro, in overthrowing the Batista regime. He still believes in the program he outlined at that trial in 1953; it forms the ideological basis of the Revolution...
...brand-new $299.95 models at a cost to the customer of as little as $49.95. On some models, the company is replacing the transmission free of charge, exchanging washer-dryer combinations for new, separate, 1959 washer and dryer units that are delivered and initially serviced free. The rush to redeem machines at a bargain rate has been crushing; Hotpoint has had to turn down housewives who hoped to palm off 20-year-old ringer-type washers, made by firms long out of business, for new models. To keep the machines off the used-washer market, Hotpoint dealers are stripping...
Citation: "A courageous negotiator to whom we have learned to turn to redeem situations fit for despair...
More important is the charge that, in a falling market, millions of panicky, inexperienced shareholders would redeem their shares, forcing the funds to liquidate huge blocks of stock and collapse the market. But Robinson cites the record to show that just the opposite has always occurred: more fund investors turn in their shares in a rising market, fewer in a falling market, thus making the funds a balancing force. This may be the shareholder's form of profit-taking, but it is more likely a sign of his confidence in the funds; when the market is uncertain, he feels...
...monetary gold. But there is a question how long the U.S. can afford to lose gold without feeling it. By law the Treasury must have gold reserves equal to 25% of the Federal Reserve's notes and deposits, or about $12 billion. It also must be able to redeem some $16.6 billion in foreign time deposits in U.S. banks, foreign-held U.S. Government securities and similar claims. In the unlikely event all foreign claimants demanded to be paid off in gold at once, the gold backing for U.S. currency would drop to $3.7 billion, a third of the legal...