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Dates: during 1950-1959
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Free But Grim. Although layoffs rippled outward to wash some 35,000 workmen out of their jobs in supporting mining and transportation industries, Washington deemed the strike no immediate menace to the economy's health; Administration economists predicted that upsurge would start right in again as soon as the strike was over. Piled up in warehouses were record steel inventories calculated to last two months or so (see BUSINESS). President Eisenhower said that he planned no drastic move to try to end the strike. "I believe." said he, "that we have got to thoroughly test...

Author: /time Magazine | Title: THE NATION: A Two-Way Street? | 7/27/1959 | See Source »

...death for the sport. Three years ago, after a serious heart attack while manning a dinghy in a frostbite race, Shields was beached from competition by his doctors. Yet last summer he stubbornly took the tiller of the 12-meter Columbia and, under tremendous pressure, skippered her at the start of light races in the final trials that led to her successful defense of the America's Cup with his old friend and onetime rival, Briggs Cunningham, at the helm...

Author: /time Magazine | Title: Sport: Old Sailor's Lore | 7/27/1959 | See Source »

...sides with learned societies and a liberal theological monthly that is still going strong. Striking now with Nasser's support at the very root of the schism-the university itself, which for centuries condemned Shiite doctrine as heresy-the rector has ordered his staff to stop favoring Sunnis, start teaching courses in Shiite beliefs. "This will have far-reaching effects in realizing Moslem brotherhood," said Sheik Mohamed Medani, dean of the university's theological faculty. Addressing Shiites over the Nasser radio, he added: "Allah is yours as well as ours. There is no argument between...

Author: /time Magazine | Title: The Press: Closing the Gap | 7/27/1959 | See Source »

...East, where tension was already rising, came away feeling more sympathy toward the Japanese than the Chinese ("What I responded to, above all, was the charm and hospitality of the Japanese"). When Mussolini invaded Ethiopia in 1935, Matthews enthusiastically supported the Italians, later wrote: "If you start from the premise that a lot of rascals are having a fight, it is not unnatural to want to see the victory of the rascal you like, and I liked the Italians during that scrimmage more than I did the British or the Abyssinians...

Author: /time Magazine | Title: The Press: The Times & Cuba | 7/27/1959 | See Source »

...Treasury announced that it could ive with the bill, but the Fed's Martin urged the Treasury not to let Congress make a start at dictating the independent Fed's monetary policy. Martin pointed out that it would be very bad for the Government's credit if the financial community, here and abroad, got the idea that the U.S. had officially embarked on a soft-money policy. At week's end the Treasury was swinging around to Martin's stand, felt that taking the Metcalf amendment was worse than having no bill...

Author: /time Magazine | Title: GOVERNMENT: Rift with the Fed | 7/20/1959 | See Source »

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