Word: unspent
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Dates: during 1940-1949
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Thus ended a boom which began even before Pearl Harbor. During the war it was nourished by U.S. purchases of war materials, and after the war it was sustained by unspent dollar balances. The boom had done great things for Mexico. It had built new roads and had equipped them with so many new cars, new trucks, new buses that the country's faithful little burros were beginning to be pushed aside. It had reared a whole new generation of modern buildings in the capital, including a race course and two new bull rings. It had started new industries...
...Profits which are so high that they cannot be absorbed by investment, remain unspent and reduce consumer purchasing power," he explained. Keyser-ling also noted that the spending of war time savings, reconversion investments, and European aid buoy up the economy temporarily, but warned that a severe depression was inevitable unless income distribution is improved...
Smelling Salts. Dalton was proud of his surplus. It was not an actual one, but was represented by a windfall of ?292,000,000, largely from unspent wartime budgets. Surplus or not, there was no budget provision for retirement of Britain's $102,448,000,000 debt. But Dalton crowed: "I trust this [the surplus] will act as smelling salts under the noses of some of those . . . who have recently been showing signs of despondency over our financial future...
...Shanghai, prices are out of sight; dollars must be exchanged into Chinese at 1 to 12,000 (less 3% Government Bank commission), and unspent Chinese dollars cannot be changed back. Manila is still a rubble heap. Hong Kong is nearer normal than any Far Eastern city. Prices are well controlled. A hotel room costs only $2 to $3 a person. Singapore is smellier, more overcrowded than ever. But the famed Raffles Hotel is open again to tourists-although they may find it too quaint to be comfortable...
...Passed legislation canceling $7,194,682,459 in unspent war funds...