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This year, British exports to dollar areas, after a year of steady climb, turned sharply downward; for the first two months, exports were 13% below the last quarter of 1948. If the trend continues, Britain will still have a dollar deficit when ECAid is stopped in 1952. "It's no longer a matter of production," explained the Board of Trade's President Harold Wilson. "It's now a matter of selling...

Author: /time Magazine | Title: GREAT BRITAIN: Westward Ho! for $ $ $ | 5/16/1949 | See Source »

...plunged into the earth at enormous speed and exploded like a bomb. The piles of rock in the rim are fractured as if they were blown out of the depression. The undisturbed rock layers of the region are horizontal, or nearly so, while the strata near the crater dip downward from the rim. The geologists found no meteoric iron, but they did find chunks of peculiar rock containing 3% of nickel that may have been part of a "stony" meteor...

Author: /time Magazine | Title: Science: Depression in Australia | 5/16/1949 | See Source »

...Piece. Silently and smoothly the X-1 cut away from the B29. For an instant it drove forward and downward. Then Chuck turned on the nitrogen pressure and fired the lox and alcohol in one of the rocket chambers. A spurt of white dots (visible shock waves) spurted out behind and grew into a long plumelike "contrail" (condensed water vapor...

Author: /time Magazine | Title: Science: Man in a Hurry | 4/18/1949 | See Source »

...this price-cutting a forerunner of serious trouble? In Chicago, Edwin G. Nourse, chairman of the President's Council of Economic Advisers, said: all the signs pointed toward a sustained high level of profits and employment, if U.S. businessmen would "lead the process of downward price adjustment, not fight...

Author: /time Magazine | Title: THE ECONOMY: Parade Down | 3/28/1949 | See Source »

...traveling with the home-town upper-upper crust was wiped out by a financial panic. "I can remember distinctly how I felt when we didn't have any more money [after the crash of 1907]. I could feel myself becoming what [Anthropologist W. L.] Warner calls 'mobilized downward.' Of course, I had read Horatio Alger and I was ready to face this change in circumstance in a sportsmanlike manner." In Point of No Return it is Anthropologist Malcolm Bryant who explains such niceties of the scientific vocabulary to Charley Gray...

Author: /time Magazine | Title: Books: Spruce Street Boy | 3/7/1949 | See Source »

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