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Economists, not so sanguine, shook their heads. They recalled the bitter fight waged to restore the pound to par ($4.86) though it never sank below $3.37. Before Premier Mussolini and Count Volpi the task looms of raising to 19c odd, a coin now worth less than 4c. The "deflation pains" of Italy seem likely to prove keen...

Author: /time Magazine | Title: ITALY: Drastic Deflation | 9/13/1926 | See Source »

...Paris last week the Turkish Ambassador, Fethy Bey, who was vacationing at Dinard. Irate, M. Briand demanded the instant re lease from prison at Constantinople of the captain of the French steamer Lotus who had been jailed in defiance of international law when the Lotus recently rammed and sank in a heavy fog the Turkish ship Bozkourd. Simultaneously it was announced that M. Emile Daeschner, onetime French Ambassador to the U. S. will be despatched shortly to succeed M. Albert Sarraut as French Ambassador to Turkey. M. Daeschner will be the first Ambassador to occupy the new French Legation...

Author: /time Magazine | Title: TURKEY: Typical Terrible Turk | 9/6/1926 | See Source »

...fringed the mountain ridges. Lieutenants Smith and Williams, suddenly lost to each other, swung off on separate courses. Late in the afternoon they reached Selfridge Field, 40 minutes apart, and were surprised not to find Flyer Bettis there before them. An hour passed; the sun sank, and still no Bettis. It looked odd. Flyer Bettis, winner of last year's Pulitzer Race, was no man to loaf along. . . . Lieutenants Smith and Williams left Michigan in the dark, for Pennsylvania...

Author: /time Magazine | Title: AERONAUTICS: On Bald Eagle Ridge | 9/6/1926 | See Source »

Across the path of the still speeding dolphin a Danish sailboat tacked, jiggled. Like a blunt-nosed swordfish the torpedo punctured the sail boat's hull, churned and frothed with the expiring might of its compressed air, was carried to the bottom as the relatively worthless fishing smack sank...

Author: /time Magazine | Title: Foreign News: Without Petulance | 8/23/1926 | See Source »

...British submarine H-29, tilted suddenly and inexplicably at her dock in Devonport Basin last week, sank within a minute and a half. Some men leaped to the wharf, some into the water; none died. Four other British submarines have sunk since...

Author: /time Magazine | Title: Foreign News: Fifth | 8/23/1926 | See Source »

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