Word: terme
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Dates: during 1950-1959
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BOND INTEREST. Ike warned of "grave consequences" if Congress fails to heed his request for cancellation of interest-rate ceilings on long-term U.S. Government bonds so that the Treasury can float long-term bond issues and shake free of its present instability-fostering reliance on short-term bonds (see BUSINESS...
...flip of a silver dollar to decide whether Republican Hiram L. Fong, first man of Chinese ancestry to sit in Congress, or Democrat Oren E. Long would rank as Hawaii's senior Senator, Long called heads and lost. In a draw to determine which would get the long term, Fong won again. Over in the House, Democrat Daniel K. Inouye, World War II hero whose right arm was shattered by a German grenade in Italy, took his seat as Hawaii's sole Representative, became the first man of Japanese ancestry to sit in Congress...
...balance of trade with the U.S. since 1865, the Tories were able last spring to free the pound, lower income and purchase taxes, even reduce by 2? the price of the Englishman's beloved pint. If Gallup is correct, the Tories might not only win a third consecutive term in office-something no party has yet accomplished in British history-but might even increase their House of Commons majority...
...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...