Smoke Rings

Alfred E. Lyon, board chairman of Philip Morris & Co., Ltd., returned from a European trip last week with some eye-popping estimates of the market for American tobacco--providing a way could be found around the dollar shortage, possibly by barter deals (e.g., U.S. tobacco for French cigarette paper). Item: "Workingmen in England spend a quarter of their average weekly earnings of -L-5 on cigarettes."

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