Word: scrip
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Dates: during 1960-1969
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...piastre, the Vietnamese monetary unit; FUNNY MONEY and RED DOLLARS mean scrip issued U.S. personnel in lieu of dollars...
When the university opened in 1868, with Scholar White as president, Businessman Cornell gave it a stunning lesson in fund raising. Spending some $525,000 for the privilege, he took charge of the bulk of the school's federal scrip for 990,000 acres of public land. He swapped the scrip for choice Wisconsin timberland, which eventually soared in value. When sold off, it netted the university almost $6,000,000. White meantime scoured Europe for top scholars, set high standards, and took such a dim view of football that he once vetoed a game in Cleveland with...
...Spender. But the boy from Brooklyn had it made financially, and he knew it. He became the biggest of the big-time spenders, and has kept it up. Jackie saves little and gambles as if he were using Monopoly scrip. He is willing to bet $100 a hole in a golf game, and he lost $3,000 on a wager that Grace Kelly would never marry the Prince of Monaco. With him, betting is as direct a challenge as Indian wrestling. Says Arthur Godfrey: "I understand that he finds out what his opponent's top wager is and then...
...Frank Merriam's 1,138,000. Ham-and-Eggs, cooked up by a radio announcer and two admen, attracted wide public support (and several notorious scoundrels), forced a special referendum on its $3O-Every-Thursday proposal for California to pay off $1.5 billion in annual pensions with worthless scrip. It lost by a narrow margin...
...coop, they have no market value. To head off real tax reform, co-ops now are willing for Congress to pass a new law, forcing co-op members to pay personal income tax on allocations but keeping the organizations themselves exempt. To overcome the court objections to taxing scrip, the Treasury recommends that all exempt allocations be made in cash or in certificates that would pay a minimum of 4% interest, have a maximum maturity of three years. This would, in effect, make the scrip short-term notes, give it a value for personal income tax purposes. But many...