Word: chancellor
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Dates: during 1970-1979
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...originally was a response to the student unrest and terrorism of the late 1960s and early 1970s. Although West German law already required all civil servants to defend and uphold the constitution, it was argued that new guidelines were required to specifically define "disloyalty." In January 1972, the then Chancellor Willy Brandt endorsed the decree, which barred people from public jobs if they were "members of organizations pursuing anticonstitutional aims...
...June 29. Townshend Revenue Act (named after Chancellor of the Exchequer Charles Townshend) requires colonists to pay import duties on tea, glass, paints, oil, lead and paper. Expected revenue: ?40,000 per year...
Presenting the precious document to the U.S., Britain's Lord Chancellor, Lord Elwyn Jones, told an audience that jammed the Rotunda: "Peoples not familiar with our ways have thought it a trifle paradoxical for the British to be joining in the celebration of the Bicentenary of what was, after all, the loss of the American colonies. They overlook our traditions of compromise. We in fact now regard the events of two centuries ago as a victory for the English-speaking world...
...each drop of 4% in the ex change rate of sterling adds 1% to domestic inflation, thus threatening the recent improvement (the rate has dropped 6.6 points in the last six months, to an annual pace of 13%). Still, once the spin began, Prime Minister James Callaghan and his Chancellor of the Exchequer Denis Healey had little choice but to steel their nerves and let the drop in the pound run its course...
...government could try to shrink the value of the mark, by having the Bundesbank sell deutsche marks for other currencies. But with Chancellor Helmut Schmidt running for re-election in October, such a move is improbable: it would irritate voters by reducing their ability to buy foreign goods and add to European dissension. More important, such a move would anger Germany's trading partners. Anyway, it might not succeed: in these days of free exchange markets, whenever a currency weakens, speculators sell it and buy Swiss francs or deutsche marks. So Germany will probably keep on struggling with...