Word: cutbacks
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Weak Francs. Europe's businessmen, who previously complained that the unchecked inflow of U.S. dollars aggravated the Continent's inflation, are now warning that the cutback raises the danger of deflation. The Swiss franc and the French franc have weakened in relation to the dollar on international money markets, and the short-term lending rate for Euro-dollars-the $5 billion-plus hoard of dollars that is circulated by Europe's banks-has jumped from 41% to 5% as borrowers scramble for funds to finance expansion. In Australia, where the Sydney stock market suffered its sharpest fall...
Although it expected a definite increase in applicants, the Admissions Office was uncertain throughout the fall at what point the onslaught would stop. The first accomodation to this year's increase--one staff member called it a "way to buy time for ourselves"--was a cutback in the old A-B-C rating system, which gave early notification of standing to seniors in over 100 schools with par-4FRED L. GLIMP Machines Are Not the Solution...
Although it expected a definite increase in applicants, the Admissions Office was uncertain throughout the fall at what point the onslaught would stop. The first accomodation to this year's increase--one staff member called it a "way to buy time for ourselves"--was a cutback in the old A-B-C rating system, which gave early notification of standing to seniors in over 100 schools with par-4FRED L. GLIMP Machines Are Not the Solution...
...some 14 months ago, the Bank of Japan, which exerts a stronger control over money and banking than that held by the U.S. Federal Reserve System, adopted a tight money policy. Tighter money slowed down internal consumption, discouraged industry from expanding and made businessmen push exports to counter the cutback at home. The result is that Japan has rebounded from a trade deficit in 1963 to what is expected to be a substantial surplus in the first quarter of this year. Because business confidence has suffered in the process, the Bank of Japan has begun to ease up, last month...
...College affairs. Its backers declared that the "Council should be as effective a spokesman for the student body as possible." Backers of the Dunster plan, on the other hand, were extremely suspicious of any Constitution implying that the Council represented undergraduates in anything. They argued that only a cutback in prevent another Howie Phillips...