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...Monetary Brew. The negotiated realignment among major powers will increase the worth of Japanese yen by 17% in terms of the "old" dollar; in all, the West German mark will go up 13.5% against the dollar, and the Dutch guilder and the Belgian franc will rise 11.5%. The French franc and British pound will be formally unchanged; but, with the dollar's devaluation, they will go up 8.6% relative to U.S. money. Italy and Sweden will devalue their currencies slightly, by 1% each, but still end up 7.6% higher than the dollar. In return, Treasury Secretary John Connally said...

Author: /time Magazine | Title: The Economy: The Quiet Triumph of Devaluation | 12/27/1971 | See Source »

...reported that the nation's net loss of cash (excluding short-term capital movements) for the third quarter of 1971 alone was $3.1 billion, more than the deficit that was run up during all of last year. By agreeing to devalue, Nixon added a major ingredient to a brew of monetary and trade changes that should within two years produce a rough equilibrium in the U.S. balance of payments...

Author: /time Magazine | Title: The Economy: The Quiet Triumph of Devaluation | 12/27/1971 | See Source »

That is only one of the disputes involving labor that continues to brew. Another major issue involves the composition of any board appointed to regulate Phase II. Meany and other labor chiefs strongly support a tripartite group of business, labor and "public" representatives who have no strong ties to the White House. Many businessmen who have spoken to the President, probably assuming that their interests could most safely be trusted to an Administration they consider friendly, urged him to stay directly involved in the management of Phase...

Author: /time Magazine | Title: The Economy: First Outlines Of Phase II | 9/27/1971 | See Source »

Last week Tamil Nadu suspended prohibition, and toddy shops were licensed to brew the potion again. But after so long a time, they could round up few able tappers. Those who remained took advantage of the situation, demanding, and getting, daily wage increases of from 41? to $1.33. They also received such unheard-of fringe benefits as salary advances, insurance, medical care, brick houses to live in instead of mud and straw huts, and profit sharing...

Author: /time Magazine | Title: INDIA: Return of the Toddy Tappers | 9/13/1971 | See Source »

...Arthur Kornberg, then at Washington University in St. Louis, discovered an enzyme, or natural chemical catalyst (which he named "DNA polymerase") that was apparently critical to some of the activities of the double helix. Once he obtained enough of the enzyme, he placed it in a test-tube brew with a bit of natural DNA, one of whose strands was incomplete, the four bases (A, T, C, G) and a few other off-the-shelf chemicals. True to his expectations?and the Watson-Crick theory?the incomplete segment picked up its complementary nucleotides from the brew to form a complete...

Author: /time Magazine | Title: Special Section: THE CELL: Unraveling the Double Helix and the Secret of Life | 4/19/1971 | See Source »

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