Word: chairman
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Dates: during 1960-1969
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Edited by Michael Demarest, TIME'S Christmas cover was an especially satisfying assignment for those who worked on it. Researcher Clare Mead, before coming to TIME, taught high school in Texas as a Dominican nun. Researcher Margaret Mary Bach, a former chairman of the philosophy department at Marymount College, Tarrytown, N.Y., was a member in the order of the Sacred Heart of Mary. Writer Mayo Mohs often reported on religion from our Los Angeles bureau before coming to New York in 1966, and contributed to the chapter "Heaven and Hell" in TIME-LIFE'S book Can Christianity Survive...
House Ways and Means Committee Chairman Wilbur Mills said that the bill would produce an additional $6.4 billion in 1970, then drop to a negligible $288 million in 1971. By 1972, the government will be receiving $1.7 billion less than present revenues, and the loss will grow to $3.7 billion...
Though Paul McCracken is a socially sensitive man who fully recognizes the dangers involved, he argues on behalf of the Administration that "We have no alternative but to risk overstaying with policies of restraint." Economist Gabriel Hauge, chairman of Manhattan's Manufacturers Hanover Trust Co., agrees: "The nation has to run the risk of getting into a recession. We should not be afraid of overkill...
...stay open, authorities admit. Federal Reserve officials feared that if they had closed every gap in the regulations, some banks might have failed. In a banking system based on confidence, that might have touched off a financial panic, something that the Federal Reserve is sworn to prevent. Still, Board Chairman Bill Martin admitted to Congress that the "safety valve" had become "an escape hatch through which restraints are being avoided." The banks also flooded the country with new credit cards, which stimulated consumer spending and certainly did not reduce
...billion or $990 billion. A few sectors of business anticipate substantial difficulties. Auto manufacturers (except Ford) have already curtailed production a bit, and some retail merchants figure that they will have to hustle to maintain their sales volume. "The consumer is beginning to stiffen up," says Ralph Lazarus, chairman of front-ranking Federated Department Stores. "We expect that after Christmas he will become a tough buyer, more value-conscious than in a long time...