Word: convertions
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Dates: during 1960-1969
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...Johnson daughters and Lady Bird are Episcopalians. Since "the family considers religion a personal and individual matter," the White House provided no further details, but was careful to point out that Luci's taking instruction does not necessarily mean that she intends to become a convert. Paul Betz, who "pinned" her recently, is a Roman Catholic...
...tobacco industry adopted an advertising code that forbids associating cigarettes with sex appeal, social charm or manliness. But this was not enough for Emerson Foote, an ex-adman who made a fortune out of peddling cigarettes before he changed sides and began to crusade against smoking with a convert's zeal. Incredibly, he urged the tobacco companies to stop advertising altogether. Foote has just moved in as chairman of the Interagency Council...
Power, prestige-and headaches. Its tourists and businessmen can convert their money around the world at favorable exchange rates, since nearly everybody wants dollars because of their stability and superior buying power. Many foreigners convert their own moneys into more secure dollars, then deposit the dollars in U.S. banks, where U.S. bankers invest them at a profit. On the other hand, the foreigners have the legal right at any time to cash in their dollar holdings for U.S. gold-and the U.S. thus has to maintain a multi-billion-dollar stock of gold, which earns no interest...
...French Ministry of Finance revealed that, following De Gaulle's order, France will convert at least $300 million of its $1.3 billion hoard of dollars into gold-in addition to the $400 million to $500 million it routinely cashes in each year. De Gaulle thereby served notice that he intended not only to cause mischief for the American economic colossus, but to test the money system in its global entirety. The move was important not so much for its size as for the furor it caused and the specter it roused of what would happen if other dollar holders...
France's right to convert its dollars is, of course, incontrovertible. The French keep relatively less gold on hand than many other countries; they aim to keep it at 76% of reserves, but that is now down to 73% . Britain, Switzerland and Belgium keep 90% of their reserves in gold, only 10% in dollars and other currencies. On the other hand, the U.S. has persuaded West Germany to hold only 55% in gold and Japan only 15% -leading French officials to sniff that "dollars are for defeated countries." Last week's decision to cash in that extra...