Word: deficit
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Dates: during 1960-1969
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...Hambleton and Norris Houghton, had been putting on everything from Oh Dad, Poor Dad ... to the Western première of Russia's The Dragon, a banned-at-home critique of Stalin and Khrushchev. In the way of the worthy, the Phoenix had run on a healthy yearly deficit. Joining with the APA seemed a natural evolution. The Phoenix yearned for a permanent repertory group-their own efforts to establish one having failed-so they could eliminate the traumas of one-shot productions, plan whole seasons in advance. For the APA, the Phoenix offered a home in the drama...
...attempting," said Mcintosh, "to enlist the support of the sponsors by cheerfully passing the hat." Gerard D. Sarant '67, one of these sponsors, said last night that a fund drive was being conducted at Wollesley to help meet the deficit...
...debate. To narrow its payments gap, the U.S. has had to slash its foreign lending and investment-and has done it so successfully that many Europeans are now worrying about a money shortage. The latest development came last week when Britain, in an effort to correct its payments deficit, was forced to curb its domestic buying power and overseas investments, a move that will further increase the pinch on Europe. Designed to stimulate trade and economic growth and to foster monetary stability, the world monetary system has lately seemed to be more a barrier than an aid to those ends...
...ideas, several points stand out. The drive to open new pools of international money is accelerating; the powers of the IMF are destined to grow larger. Though the dollar will maintain a dominant position, financial experts almost unanimously agree that the world should no longer depend on U.S. deficits for most of its new reserves. Now that the U.S. is narrowing its payments deficit and strengthening the dollar, it is in a stronger position to negotiate. Last week Treasury Secretary Henry H. Fowler called reform of the money system "the major task" of the world's financial ministers...
...reluctant to turn over to the IMF powers to expand and contract the international supply of money. Replying to that objection, IMF Managing Director Pierre-Paul Schweitzer notes that the size of the money supply is now determined by such hazards as the extent of the U.S. dollar deficit and the amount of South African gold production-and that it would be far better for the world to control its monetary reserves by "deliberate decision...