Word: commonwealth
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Dates: during 1960-1969
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...system. Other nations hold pounds and dollars, along with gold, as reserves to help underpin the value of their own currencies, using them to bankroll trade and settle international accounts. British pounds constitute the main reserve asset for the 66-member sterling area, which consists of British dependencies and Commonwealth members (except Canada), plus Ireland, several Arab and a few Asian states. When Britain devalued the pound last November, the value of these other countries' reserves fell 14.3% overnight...
...waited patiently for its cut of independence. Last week a smiling King Sobhuza, surrounded by some 100 of his wives and dressed in a ceremonial headdress of lourie-bird feathers, a girdle of lion and leopard skins and a cloak made of oxtails, had his patience rewarded. British Commonwealth Secretary George Thompson handed Sobhuza the formal instruments of self-government, and Swaziland became the 28th independent member of the British Commonwealth...
...support from the rest of the world. Britain naturally supported its Commonwealth partner. The rest of Europe and even Soviet Russia (seeing a chance to gain a new foothold in Africa by backing the likely winner) were soon providing Nigerian military commanders with every kind of weapon they wanted. Automatic rifles and endless rounds of ammunition, heavy artillery, mortars, rockets, grenade launchers, antiaircraft guns, Czechoslovak Delfin jets, Russian MIGs and Ilyushin 11-28 bombers?Nigeria ordered and got them all. The result was an unhappy precedent for Africa: the Nigerian conflict became the first African bush war fought with modern...
...three decades, Luis Muñoz Marin and his Popular Democratic Party presided over Puerto Rico's transformation from an impoverished Caribbean stepchild of the U.S. to a commonwealth of increasingly robust economic health. Then, in 1965, Muñoz's hand-picked successor, Roberto Sánchez Vilella, took over. Muñoz, who went into semiretirement as a senator, continued to maintain a jealous watch over the aging party that he had founded. Increasingly irked by his successor's independent ways, he and a coalition of P.D.P. leaders last week denied Sáchez nomination...
...nominee. Barring a three-way race, Negrón is slightly favored to defeat New Progressive Party Candidate Luis Ferré, a fervent advocate of statehood and the only other significant candidate. If the Popular Democratic Party should indeed splinter, the era of Muñoz and of steady commonwealth status may be ended...