Word: archaice
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Dates: during 1960-1969
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...most pressing problem at present, but also the one that the exchange, under Haack, has gone farthest toward overcoming. It is slowly phasing into operation a Central Certificate Service, which will transfer stocks from one brokerage account to another by making electronic bookkeeping entries. That will end the archaic system under which messengers now lug bags of stock certificates between brokers' offices in the Wall Street area. This week the exchange also will show off to the press a new computerized system for matching the institutions' big buy-and-sell orders. Next month the exchange will relieve crowding...
...miles in four days. A letter mailed from Boston to New York may take as much or more time to reach a destination only 229 miles away. In the process, it may be mangled, misdirected or destroyed. And, pace Herodotus, snow, rain, heat, gloom of night and archaic facilities continually slow, if they do not entirely stay, the U.S. mail's appointed rounds. Last week the Administration advanced a sensible if quixotic proposal to make the Post Office an efficient public service. "There is no Democratic or Republican way of delivering the mail," Nixon said, "there is only...
Root of Due Process. Over the centuries, the charter has been reissued in at least three slightly varying versions, and some of its archaic features have already been dropped. One provided: "No one shall be arrested or imprisoned on the appeal of a woman for the death of any person except her husband." Another proclaimed: "If anyone who has borrowed a sum of money from Jews dies before the debt has been repaid, his heir shall pay no interest on the debt for so long as he remains under age." The legislation introduced in Parliament will repeal ten other clauses...
ORGANIZED labor long ago acquired a stranglehold over the $85 billion construction industry. That power has not only led to an astronomic rise in building wages but has also enabled unions to load the nation's largest industry with archaic and inefficient methods of operation. As a result, construction costs are climbing so swiftly that they are complicating Washington's struggles to increase the supply of housing and restrain inflation. Last week George Romney, Secretary of Housing and Urban Development, challenged construction-union leaders to adopt reforms. His candor was greeted with boos, jeers and catcalls...
Farming has been a feast-or-famine business for almost as long as history has recorded harvests. Today's bins of surplus food serve as pointed reminders that most agricultural policies are inadequate, inconsistent and archaic. The cost of subsidized farming in the Common Market is more than $2 billion a year; in the U.S. it is $3.6 billion. Yet prices are erratic, and people go hungry. Agricultural technology has shown that the Malthusian apocalypse of starvation can be avoided. The immense task now for the producers is to devise the economic and political conveyor belts that could...