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From his high-laced shoes (specially built up for his World War I injuries) and long wool underwear bulging beneath his socks to the paper holders into which he jams his long Sumatra or Brazil cigar, Ludwig Erhard has remained true to his staid Franconian upbringing. Though he now wears glossily tailored blue suits, their lapels are usually sprinkled with ashes. His youngest daughter is married to a Daimler-Benz executive. The son-in-law used to work for the High Authority of the European Coal and Steel Community in Luxembourg, but Erhard nagged .so persistently that a young...

Author: /time Magazine | Title: Foreign News: Engineer of a Miracle | 10/28/1957 | See Source »

...wore plain black cassocks without sign of rank. The austere tradition recalls St. Ignatius Loyola (1491-1556), who when he first took up a life of poverty insisted on wearing a woolen tunic, which earned him and his earliest followers in Spain the jeering nickname ensayalados, the men in wool...

Author: /time Magazine | Title: Religion: Army in Black | 9/16/1957 | See Source »

...Jesuit headquarters in Borgo Santo Spirito near St. Peter's Square, the modern men in wool met in Extraordinary General Congregation, the sixth since Loyola's death, to settle pressing business facing the Society of Jesus, largest and most powerful order in the Roman Catholic Church...

Author: /time Magazine | Title: Religion: Army in Black | 9/16/1957 | See Source »

...Uruguay's economy. On rolling land that could provide some of the lushest cattle and sheep pasturage in the world, wheat is being grown, encouraged by government price supports despite the world wheat glut. Ranchers, penalized by taxes and government cheap-meat policies, are producing less beef and wool-the country's mainstay exports. So serious are the shortages that 4,000 packinghouse employees have been laid off and the government has even been forced at times to import cattle, both for local consumption and for export as corned beef. Moreover. Uruguay's Swiss-style federal-council...

Author: /time Magazine | Title: URUGUAY: Not-so-Welfare State | 9/9/1957 | See Source »

...devaluation, but with a difference. The franc was devalued to 420 to the dollar in all tourist transactions. Imports in effect would cost 20% more, except on those imports deemed vital to the continuing expansion of French industry. On these "exceptions," such as fuel and key raw materials (wool, cotton and steel products), accounting for about 60% of French imports, the rate would remain 350 to the dollar. The calculated effect: a cut in import spending. Next, to give France a chance to recoup its reserves by selling more in world markets. Gaillard granted a 20% premium to French businesses...

Author: /time Magazine | Title: FRANCE: Down Goes the Franc | 8/19/1957 | See Source »

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