Word: prewar
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Dates: during 1930-1939
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When the British pound was at its prewar level (near par: $4.86), ?230 ($1,117.80) per ton would have been a good price for tin-equivalent (with the cost of freight and insurance) to about 48? per Ib. As the world's biggest user of tin, the U. S. is much interested in its price. When the official pound was dropped to $4.02-$4.06, ?230 per ton became equivalent to only 40? per Ib. So last week Britain killed her wartime rule, which since September had forbidden the sale of tin on the London Metal Exchange at more than...
Trade centre turnover did virtually the reverse; prewar, in mid August it climbed to a peak slightly higher than in January. Threat of war sent it skidding. Then during the "war boom" in production, it fluctuated vigorously without making headway and did not equal its prewar peak till mid November-an indication that during this period the volume of transactions in these centres just about kept pace with proportional increase in inventories...
...which in many cases the U. S. has more than enough at home. Given time and ingenuity, mutually profitable trade can be built up. In 1915 U. S. exports to Latin America dropped about 19%, but before the war was out they increased more than 100% over the prewar figures (a substantial increase although partially deceptive because of higher prices). This time the problem is being tackled at the beginning of the war, and the U. S. is no longer a greenhorn in Latin American trade...
...Edward ("Eddie") Marsh knows as many such stories as there were incredible characters in preWar, bilingual British society. In A Number of People he strings them along on the bright, thin thread of his own life story with all the wit, charm, and intimate malice of a puckish British Proust. Unlike Proust, Marsh seldom sees through his irascible, Latinizing, fox-hunting dukes and musical, horsey, but absent-minded duchesses, although their snobbishness often makes him wince...
...refuge for many out of work, and the nine-year loss was soon more than recovered. As business improved, public policies of various kinds have helped to prevent another net reduction of the farm population, and the current estimate for January 1, 1938, is not far below the prewar peak of about 32,100,000.New Pressure Needed