Word: commonwealth
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Dates: during 1940-1949
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Last Tuesday evening this correspondent was privileged to attend the annual meeting of the Ivy League Chowder and Martini Society, otherwise known as the Harvard Club Football Smoker. Gaffers of all ages from Harvard, Dartmouth, Yale and Princeton gathered in the Commonwealth Avenue hall to listen to four gentlemen expound on their teams-or so it said on the program...
...Lord Lyons (1859-65), who took the hot blast of Northern resentment at British help to the South. ¶ James Bryce (1907-13), who was well known in the U.S., before he became Ambassador, for his great book The American Commonwealth. Bryce was widely respected; when he attended the Old Presbyterian Church in Washington he was always escorted to Abraham Lincoln's pew. ¶ Sir Cecil Spring Rice (1913-18), the World War I Ambassador, so supercautious that he dared make only one public speech in his five years in the U.S. ¶ Rufus Isaacs, Lord Reading...
...disasters of falling living standards," declared the Economist, "of a collapsing sterling area and a disintegrating Commonwealth against which the government wishes to defend the country are implicit in the policies they are still pursuing. With or without American assistance they will in the near future be compelled to devalue, to cut costs, to increase output and to tackle the problem of productivity...
Canadian Finance Minister Douglas Abbott sat in as a Commonwealth member who is also one of the sterling area's chief creditors. He provided what one official later described as "a lot of good dollar area horse sense," breaking into the discussion from time to time with such admonitions as, "You don't imagine Mr. Snyder would listen to that...
Current London jargon divides crisis solutions into "short-term," "middle-term" and "long-term." The finance ministers' meeting sought results in only the first two categories. The short-term program called for a ?60 to ?100 million cut in imports by the rest of the Commonwealth (excluding Canada) from the dollar area. The middle-term scheme was a new pattern of trade and production so that the sterling area could produce more of the supplies now being imported for dollars. What Whitehall calls "the multilateral stuff" (longterm) will be left for further talks in Washington this September...