Word: agreement
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Dates: during 1970-1979
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Even a comprehensive SALT agreement, moreover, would not check the Soviet Union's buildup of conventional arms. At sea, for example, the Red Fleet leads the U.S. Navy in major surface combat ships (230, v. 175) and attack submarines (234, v. 78); the onetime unchallenged U.S. superiority exists only in fixed-wing aircraft carriers (13, v. 0). Noted Blechman: "The Navy has had serious problems, and the shipbuilding program, with its long delays and cost overruns, is just one of them." Observed Hyland: "We no longer seem to know what we want the Navy to do: project power ashore...
...million worth of IMF Special Drawing Rights ("paper gold") to the Germans for deutsche marks, and it proposes to borrow as much as $5 billion of foreign currencies from the IMF. That $5 billion credit already existed. Hence the net new money available to the U.S. under the agreement is $2.7 billion...
Sink it did last week, and not so gradually. Before the agreement, the dollar had risen to 2.08 DMs; by week's end it had dropped to 2.03. It also fell against the Swiss franc, the French franc, the Italian lira and the British pound...
...passengers between London and 14 American cities-including Atlanta, Chicago. Dallas and Seattle-at budget and stand-by fares proportionately as low as those already in effect on the New York-London route. Sample fare: $171, Chicago to London, one way. President Carter, announcing the agreement himself, called it "a major step forward . . . to provide the traveling public with a wide choice of low fares...
...early last week, British Airways itself was proposing some new low fares, and only the details of an agreement remained to be wrapped up. By Friday they were, and Braniff planned to start its Dallas-London flights over the weekend...