Word: instead
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Dates: during 1960-1960
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...niversity of the Southern Philippines law school organized 30,000 Filipino students into a poll-watching corps whose vigilance contributed notably to the 1953 clean election of the Philippines' late beloved President Ramon Magsaysay. Once in office, Magsaysay wanted to give Binamira a Cabinet post, but he decided instead to live a while among the barrio people, who constitute the submerged 70% of the Filipino population...
...private art collections in the world. Except for a 1948 show of 200 works in Lucerne, hardly any of the prince's 1,500 paintings, 75 tapestries, or the vast assortment of bronzes porcelain, baroque silver, Renaissance sculpture, Gothic and Renaissance furniture are ever seen by the public. Instead 95% of the collection stays in the prince's castles, mostly in the cellar and a tower of the castle at Vaduz. The prince neither adds much nor sends anything out on loan...
...gold-backing Preventing law. The U.S. is the need world's only major nation with gold-backing requirements, which have actually been reduced over Switzerland and Belgium. The practical impact of the law is lost because the present U.S money supply is backed by 38% in gold instead of 25%. The Federal Reserve Board can suspend the backing indefinately in a real emergency, thereby depriving it of any solid gold status. Yet the reserve provisions leave so little gold left for international settlements-about $6 billion of the nations $18 billion stock- that when the level drops, foreign bankers...
...fashioned hard sell in the form of a jingle. Bert and Harry were seen less and less. Last week their $100,000 annual contract, owned by Goulding, Elliott and Edward Graham, the team's scriptwriter, expired. Young & Rubicam, Piel's advertising agency, did not renew it, instead tried to negotiate a new one for fewer commercials. Y. & R. explained that even though televiewers tuned in to programs just to hear the Bert and Harry ad, they did not necessarily reach most beer drinkers. Since Piel's owns the cartoon's format, once their already prepared skits...
...unfilled orders to the lowest point in two years. Manufacturers' sales fell 1% in October for their sixth monthly decline in a row. What was even more disturbing to economists-and the chief cause of the orders slump-was that businessmen are still living off their inventories instead of reordering. In October, business inventories fell $400 million from September for their fourth straight decline...