Word: spurs
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Dates: during 1950-1959
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...Nyasaland are trying to learn how to submerge their differences in a common federation, and experimenting with graduated extension of the franchise so that the outnumbered whites can maintain their dominance. Paced by the British, with the frightening memory of yesterday's Mau Mau rebellion in Kenya to spur them on, the white masters in the remaining territories of Middle Africa are plunging headlong into an uncertain future, making concessions usually a step behind the demands-and sometimes a step ahead of the capacity-of their once submissive but now impatient peoples...
SAVINGS BOND BOOST in interest to 3¼% from 3% was signed into law by President Eisenhower. To spur sagging sales, law will make $18.75 bonds worth $25 in eight years, eleven months after purchase instead of current nine years, eight months. Rate applies to Series E bonds, also Series H bonds that have a face value of $500 or more...
...Iraq, the strength of the Baghdad Pact countries against Communist aggression. The announcer: Special U.S. Ambassador and Ike-Doctrine Salesman James P. Richards. The announcement: the U.S. will provide the pact's four Middle Eastern members (Iran, Iraq, Pakistan, Turkey) with $12.5 million in Eisenhower Doctrine funds to spur "regional" highway, railroad, telecommunication projects. In Saudi Arabia, Richards scored heavily with King Saud, who bought deeper into the Eisenhower Doctrine by issuing a joint communique promising "to oppose Communist activities, other forms of imperialism and any other dangers that threaten peace and stability in the area...
SPAIN'S SHAKY PESETA, which sank on foreign markets to 56 for $1 v. official rate of 38.95 to $1 as result of Spanish economic crisis (TIME, April 1), is being devalued to 42 to $1, will probably slide to 45 later. To spur lagging exports, Franco is also wiping out the multiple-exchange rates that favored importers over exporters...
...insured loans on houses appraised at $9,000 or more. Instead of pegging downpayments at 7% on the first $9,000 of the home's cost, 27% on the rest, FHA will now ask only 5% on the first $9,000, 25% on the balance, hopes to spur home buying by .low-and middle-income families, despite tightness of mortgage funds...