Word: shortly
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Dates: during 1950-1959
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Outbound. Even more practical are programs at the University of Pittsburgh and Montana State College. Pittsburgh's Graduate School of Public and International Affairs runs short courses for foreign-bound executives; it also puts graduate students to work for two or three months in international agencies. Montana's ten graduate students (tuition: $500) are not only sharpening their specialties in the classroom. Next month they will put them to grass-roots work by living among the state's Cheyenne Indians and next winter in a Mexican village. The most ambitious scheme of all is planned by Manhattan...
...musical nation, so it came as no surprise that the Russians played well. The stunner was how closely the Russians caught the sense of the music, particularly the sad throb of the blues. There were times, says Ruff, "when the renditions came close to eloquence." Where the Russians fall short is on improvisation. After one demonstration at which Ruff and Mitchell improvised around a current Russian song, a young man asked for the score. "They couldn't understand." says Mitchell, "that except for the basic chords, it was all on the spur of the moment...
Even with time payments, there seems little likelihood that many Russians will be able to get much on the cuff. The fact is that most luxury items are still in short supply. Last week a precedent-breaking deal to export Moskvich and Volga autos to West Germany fell through because Russia could not guarantee delivery of 2,500 cars. The severest trial for the Soviet worker who wants a camera or a motorcycle is not financing the inflated price, but waiting while his name slowly drifts to the head of a long waiting list...
...turn was applied by the House Ways & Means Committee, which voted to kill a bill giving the President authority to raise the interest-rate ceiling on long-term Government bonds above the present 4½. This will force the Government to do more of its financing through short-term borrowing (under five years), on which there is no interest ceiling. Result: the Treasury will have to compete with consumers and small businessmen for short-term funds, thus placing pressure on fhe money market, forcing up short-term interest rates...
...Treasury must refinance $34 billion in the next twelve months and come to the market each week with $1,000,000,000 or more in bill offerings. Last week the interest rate that it has to pay on short-term (gi-day) bills rose to 3.4%, the highest since the fall of 1957; it may go up to 4%. What the Treasury fears most is that its dependence on short-term financing will force yields on short-term paper above yields on long-term bonds, thus attracting many investors who might ordinarily put their money in long-term securities...