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...best they could English economists concealed their chagrin last week at New Zealand's disturbance of the "sterling area." Ever since England went off gold London has been told that sterling, not gold, is the best basis for the world's currency. Several small countries, such as Denmark, have linked their currency with the English pound. Last week Premier Forbes, by an act which amounted to offering New Zealand pounds at cut rates, injected profoundly disturbing elements into Empire finance...

Author: /time Magazine | Title: NEW ZEALAND: Cut Rate Money | 1/30/1933 | See Source »

...Delegate to the League of Nations Yosuke Matsuoka, who represents Japan in Geneva this week and recently declared: "Japan can offer spirituality to America and to the entire Western world. . . . Japanism is a world communism of moral responsibility, ideals, obligations and honor, unlimited by time, unbounded by distance or area and irrespective of race or nationality. . . . No individual has arisen in the 20th century, no nation has achieved the leisure to lead and inspire. . . . Japan can achieve this task...

Author: /time Magazine | Title: JAPAN: The Way of the Perfect. . . . | 1/23/1933 | See Source »

Originally the Plan called for turning 17% of the nation's sown area into "collective farms." These were to be mechanized with tractors and other farm machinery. Soon the State found it possible to drive peasants into collectives much faster than had been planned. This was done. Never stopping to reflect that true collectivization demands simultaneous mechanization, the State has turned not 17% but 80% of Russia's sown area into so-called collectives. For the past two years these would-be "grain factories" have been clamoring in vain for tractors and other equipment which the State could...

Author: /time Magazine | Title: RUSSIA: End Five-Year Plan | 1/9/1933 | See Source »

...Dictator Stalin is expected to issue this month a decree ending the hated system whereby the peasant must deliver to the State a quantity of grain based on the size of his crop (variable from year to year) and substituting a system of State grain collections based on the area of the peasant's farm (which is fixed, not variable...

Author: /time Magazine | Title: RUSSIA: End Five-Year Plan | 1/9/1933 | See Source »

Three events were run off in the meet, all for flight duration. One was for Baby R. O. G. (rise-off-ground) types, one for fuselage models, one for "open sticks." The Baby R. 0. G. class was limited to models of 30 sq. in. maximum wing area, 8 in. length. One after another 20 "babies" took off from the floor, made wide spirals toward the arched ceiling, propellers flailing the air. One after another fluttered floorward, rubber motors slack, to land on paper-thin balsa-wood wheels, until at the end of 7½ min. only one was still...

Author: /time Magazine | Title: Aeronautics: Little Ships | 1/9/1933 | See Source »

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