Word: traded
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Dates: during 1960-1969
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Unemployment was his next concern: Alioto journeyed to Washington and New York-to squeeze 3,000 new maintenance jobs out of San Francisco-serving airlines, create job opportunities in the post office, fire department, trade unions and in the Bay Area Rapid Transit's 75-mile construction project, which includes a tunnel under Market Street. Manhattan Banker David Rockefeller bent to Alioto's urging that a $250 million Embarcadero construction project -known locally as "Rockefeller Center West"-soon get under way. By careful cajolery, Alioto persuaded Warner Bros, to build a public swimming pool in Hunters Point...
...redeem dollars held by foreign governments for gold, at an unchanging $35 per oz. Other countries value their own money in terms of dollars, usually keep a big part of their reserves in dollars. After World War II, as other nations gradually followed the U.S. into currency convertibility and trade liberalization, those relationships helped build an enormous, dollar-based world market. Foreigners were delighted to have the mighty dollar-until fear began to erode faith in its strength...
...Sneers. From Budapest to Peking, Communists greeted the gold stampede with outright gloating-showing at least that Lenin's followers still heed his counsel: "The way to defeat the capitalist system is to debauch its currency." Crowed the Polish trade-union council, Glos Pracy: "The dollar is doomed. It is possible that joint efforts by world financial circles will stave off the crisis temporarily, but this will only postpone the execution." Sneered the New China News Agency: "The capitalist monetary system has in fact collapsed...
...they will find that their epoch-making 1950s' recordings of Rock Around the Clock and Shake, Rattle and Roll have been reissued to meet a rising demand. New British groups are being formed with names like Tommy Bishop and the Rock 'n' Roll Revival Show, and trade journals are eagerly asking: Is the old rock coming back...
Died. Harold L. Bache, 73, chairman and chief executive officer since 1945 of Bache & Co., Inc., world's second largest brokerage house (after Merrill Lynch, Pierce, Fenner & Smith); of an apparent heart attack; in Manhattan. Bache started out in 1914 running trade messages for $1 a day, rose through the cotton and wheat pits to the top of his granduncle's 89-year-old brokerage house, which he expanded from 48 to 124 branches and turned into the top dealer in both commodities and mutual funds...