Word: trusts
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Dates: during 1960-1969
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...Richard Clarke Cabot Professorship of Social Ethics, endowed by the Ella Layman Cabot Trust Fund, will deal with modern society's ethical questions...
Already, says Economist Beryl Sprinkel of Chicago's Harris Trust and Savings Bank, the inflationary situation is "about three times as bad as any we've had over the past 15 years." Even the most liberal of the "New Economists," whose free-spending policies have helped sustain the five-year boom, are openly troubled. "We've passed the point of creeping inflation," said M.I.T.'s Paul Samuelson, "and reached the point of crawling inflation...
...rate, Chairman William McChesney Martin got only growls from the White House. Today, even the liberal minority on the board that opposed Martin concedes that he made the right move-though many businessmen are now worried that money has become too tight. Last week Manhattan's Morgan Guaranty Trust Co. led the way to a further tightening of credit by raising the "prime rate"-the interest charged on loans to the bank's biggest and most reliable customers-from 5% to 5½%, highest level since the formula was introduced in the 1930s. Virtually every major bank...
...provide $35 monthly for individuals, $52.50 for couples; 2) benefit only persons who are 72 or older or who reach that age by Jan. 1, 1968, and are not receiving a specified amount of Government assistance from other sources; and 3) finance the plan by borrowing from social security trust funds, so as not to cut into the tax bill's estimated revenue. Thus patched up, the bill went back to both houses for expected passage this week...
...Candide, Voltaire wrote for all time the story of the philosophic fathead betrayed by blind optimism and an overweening trust in the goodness of human nature. J. P. Donleavy's conte philosophique demonstrates that the things a man does not believe in can be as crippling as false faith. This is the opposite of Candide's optimism-despair. Donleavy's hero, Samuel S, does not suffer persecution by savages; his enemy is himself; he believes nothing...