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More significant than the foreign-exchange ruble ruffle was the simultaneous (but unrelated) cut in Russian domestic prices. More than 200 consumer items were marked down, ranging from 10% on milk to 30% on bread and beef. The cuts undoubtedly reflected a genuine increase in Russian production, and were good news for Russians, who promptly went on a buying spree. But even after the cut (the fourth in 27 months), Russian prices remain high in terms of Russian wages. Ignoring the phony exchange rate, U.S. economists estimate that an American works 30 minutes for a pound of butter, a Russian...

Author: /time Magazine | Title: Foreign News: All That Glitters... | 3/13/1950 | See Source »

...banker and her lawyer to call only at long intervals. On rare occasions she received her cousin Hollis Gale-usually asking him to bring a collection of menus from other hotels to be sure the Seymour was not cheating her on the prices of meals. Though she loved beef and cheese she felt they were too expensive, and never ordered them; a bellboy brought one meal a day to her suite. She refused to let anyone see her sign her name, and never made a will...

Author: /time Magazine | Title: MANNERS & MORALS: The Heiress | 2/20/1950 | See Source »

Both cattle and cotton-once the main supports of Texas-are still big business; Texas plantations and ranches yield a third of U.S. cotton, 10% of U.S. beef. Texas has 25% of the nation's sheep, and raises $100 million worth of wheat...

Author: /time Magazine | Title: TEXAS: King of the Wildcatters | 2/13/1950 | See Source »

...applicants is exhausted; the AMA feared that the stipend paid to medical schools for students over and above their average enrollment would encourage "wildeat" schools, the administration cut that stipend to one-third of its original size. But the medical group, fearing the bull too much to eat the beef, refuses to accept the bill on the grounds of political interference and the possibility of an over-population of physicians...

Author: NO WRITER ATTRIBUTED | Title: Aid to Medical Schools | 2/10/1950 | See Source »

Less than an hour later, the Navy announced that the aircraft carrier Boxer, with a normal complement of 90 planes, and two escorting destroyers, would beef up the 7th Task Fleet based on the Philippines. Next day the Joint Chiefs said they would leave next month for a conference with MacArthur and an inspection trip of U.S. forces in Japan "contemplated for several months...

Author: /time Magazine | Title: FOREIGN RELATIONS: For Better or for Worse | 1/9/1950 | See Source »

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