Word: tightness
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Dates: during 1960-1969
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...keep the slowdown from going too far and prices from rising too fast. Last week banks began lowering the prime rate of interest, giving important evidence that the Administration's prediction of easier credit had foundation (see U.S. BUSINESS). Housing, the industry most seriously depressed by tight money, will thus be assisted in making the 1967 revival that the White House expects. Activity in other sectors can be expected to accelerate as high inventories diminish...
...tight-money thaw began as the Bank of England cut its lending rate from the crisis level of 7% to 61%, and sent bank messengers sprinting about London's City to spread the news. Within hours, Chase Manhattan Bank, New York City's largest and the second biggest in the U.S., lowered its prime rate -the minimum interest charged for loans to the biggest customers-from 6% to 51%. Explained President David Rockefeller: "While loan demand is still strong, it is less than it was a year ago." Though the British action had been widely anticipated, Chase Manhattan...
...Compulsive readability" he has indeed, but deeper yet, the reader senses a whole man, responding to the falseness, betrayal and insatiety (to use Philip Wylie's expression) of much of modern life. It will be sad if Muggeridge ever rebounds all the way over to the tight little camp of religious orthodoxy. Understandable, but sad. For then free men might lose a vigorous spokesman, standing in the unaffrightable position of Emerson's thinking man, sending out his shafts wherever merited...
...playgrounds of Americans. Composed of 700 islands that are washed by the warm waters of the Gulf Stream, the Bahamas have a population of only 140,000 people, 85% of them Negro. Yet for many years the islands' fate has been held firmly in the hands of a tight little group of white businessmen known as the "Bay Street Boys," after the main street of the capital of Nassau. The group's two dozen members controlled both Bahamian commerce and politics through their predominantly white United Bahamian Party. Last week the Boys got quite a setback...
...month rate, France has aggravated the U.S. gold drain, weakened confidence in paper currency in general, and touched off a worldwide wave of speculation in gold. The resulting gold scarcity has left the free world's official monetary reserves-for the most part bullion and dollars-annoyingly tight. Last week the International Monetary Fund reported that worldwide reserves increased by a scant $460 million during the first nine months...