Word: discount
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Dates: during 1940-1949
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Devens wasn't such a bad ball club if you discount the pitching. They opened up on Crimson starter Ralph Hymans in the seventh for seven runs, and acquitted themselves quite decently in the field, limiting the local delegation to one stolen base and generally keeping things uncomfortable for laggard base-runners...
Living in a tiny, corrugated iron shack with no blankets and little food, the pair laboriously painted copies of 100-yen and 10-yen notes by hand. Kanji, a onetime mechanical draftsman, sold them apologetically at a 10% discount, explaining that the ink had been blurred in a faulty printing press. In ten months, the total take was less than...
However Brown, Sproul and Eccles may differ about the Board's (not Eccles') special Reserve plan [TIME, Dec. 22], there is no perceptible disagreement among us as to the relative insignificance, as an anti-inflationary measure, of increasing Federal Reserve Bank discount rates. Member banks do not like to borrow, and do not have to when they can get reserves via gold inflow or selling some of their holdings of Government securities...
TIME marred an otherwise good reporting piece by making it appear that the discount rate is a club to beat inflation down. It would probably be an overstatement to call it more than a toothpick...
...students were not so sure. They were often impatient with his insistence on first things first. Washington complained that they wanted to learn about cube roots before learning the multiplication tables. They talked glibly of having mastered "banking and discount," but most of them still ate with their fingers. He taught them how to wash, to brush their teeth, to plow and plant ("trained farmers are as much needed as trained teachers"), how to make bricks and shoe horses. Then he taught them how to read and write, and something of history and literature. It was his idea to turn...