Word: risen
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Dates: during 1940-1949
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...trouble with the South, said Alabama's New Dealing Aubrey Williams in 1947, was that most of its brains and talent went North. That, he added modestly, included himself. By faithfully serving Franklin D. Roosevelt in the left wing of the New Deal, Williams had risen high in the WPA, was National Youth Administrator for five years. But in 1945, when the Senate rejected his nomination as Rural Electrification Administrator because of his leftish views, his northern political star blinked out. Williams packed up his talents and headed south again...
Fuller Shelves. Many retailers had already cleaned up their inventories too thoroughly. Last week they were busily restocking. After ten months of successive decline, U.S. retail inventories had jumped a tidy $500 million in September. There was still a tremendous amount of pent-up buying power. Disposable income had risen 4.8% in 1949's first half over the same period last year, to an annual rate of $194.6 billion, and personal savings had almost doubled...
Actually, there was not much cause for alarm. In the commodity markets, wholesale coffee prices had risen, 25% on news that Brazil's crop will be short because of damage. Many retailers had taken advantage of the scare to mark up their stocks on hand as much as 50%. Last week, the U.S. Department of Agriculture tried to calm things down a bit. There was enough coffee around, said the department, to prevent an acute'shortage. The National Coffee Association agreed. Snapped an N.C.A. official: "There's no question but that present excessive demand is entirely artificial...
...from U.S. gold miners and such big gold-producing nations as Canada and South Africa. Their argument: at the present price of $35 an ounce, gold mining is unprofitable, and production is slumping. Furthermore, it is unfair to hold down the price of gold when all other commodities have risen...
Sound & Fury. For all their persuasive details, such arguments were built on shaky economic ground. Were gold miners entitled to a raise? Since 1927 the price of gold has gone up 69%, while wholesale prices in general have risen only 60%. Actually, a free market would not change the price unless the U.S. raised its official price also, because the Treasury is required by law to keep gold at $35 an ounce. While a gold boost would give Britain and other U.S. allies a modest profit on their gold holdings, the greatest beneficiary might be Russia, probably the world...