Word: important
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Dates: during 1950-1959
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...birth, his father was a teacher of Romance languages at Massachusetts' Amherst College. But he soon quit as a result of a quarrel with the college president, moved his family to New York, where he studied law at night, scraping a living by translating documents for export-import firms. A few years later, the family moved to Baltimore, where the elder Symington practiced law, winding up as a county judge...
Three years ago, in the disorder that followed the Suez invasion fiasco, Great Britain was faced with such a run on the pound sterling that it asked for and got $500 million in credit from the U.S. Treasury through the Export-Import Bank. But confidence in the pound was restored so quickly that only $250 million of the money was actually borrowed-on ?300 million security posted by Britain, to be repaid at 4.5% in ten installments from 1960 to 1965. Last week, with Britain's economic rebound having turned into a full-fledged boom, and the first favorable...
...abolishing virtually all import restrictions on trade with the dollar area, the Macmillan government has recorded another major economic advance. The benefits resulting from increased trade and sharpened international cmpetition can now work towards lowering prices. With a favorable trade and dollar balance for the first time in this century, England has been able to lower taxes, stabilize prices, maintain full employment and establish external convertibility of the pound. Last week Britain repaid a quarter of a billion dollar United States loan over five years in advance...
...Import Quotas Dropped...
...IMPORT CURBS on Japanese stainless-steel flatware were ordered by President Eisenhower to protect U.S. producers. Japanese now account for 90% of all imports. New restrictions are aimed at cutting flatware imports from Japan to 5,750,000 dozen pieces; duties of 60% to 67^½% will be imposed on all imports in excess of that total...