Word: shortly
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Dates: during 1950-1959
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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...
...finds it hard to turn around because his pride is involved. But Nasser supporters now sidle up to American journalists to identify government ministers in Iraq as "Communists." Western specialists regard Nasser himself as deeply but, in the long run, not irretrievably committed to the Communists. In the short run, they think his hands are tied. A Russian mission in Cairo is keeping him dangling over how much responsibility they are willing to assume in building the Aswan High Dam. Some 20 shiploads of Soviet-bloc machinery and equipment vital to his industrialization plan are due in a few weeks...
...Atlas that went into orbit (see NATIONAL AFFAIRS) is technically called a 1½-stage rocket-a single engine plus ground-fired boosters. When its two booster engines stop firing, the main body, propelled by the central sustainer engine, flies out of the short cylindrical after-section that carries the boosters (see diagram). With the boosters gone, the sustainer engine has less dead weight to carry into space. In this particular model, the sustainer was designed to burn 13 seconds longer than in the regular models. Without this extra thrust, needed to put the Atlas into orbit, it would have...
...space. The best optical telescope can see galaxies that are 2 billion light-years away, i.e., with light that left them (at a travel speed of 186,300 miles per second) when they were 2 billion years younger than they are now. But 2 billion years is a comparatively short backward leap into the cosmic past, does not reveal enough evidence of change to prove or disprove either theory...
...market may indeed be too high, reflecting a hedge against more inflation as well as a hope of sharing in the growth of the economy. But it is not too high in the light of the earnings investors think they can expect. Nevertheless, some experts expect a pause or short drop for the Bull to catch his breath. The pessimists fear a major shakeout. They could be right only if the nation's reading on its new economy is wrong. And in 1958 the economy's reaction to recession earned it a well-deserved vote of confidence...