Word: draining
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Dates: during 1960-1969
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...government has fought the drain in the past by tightening credit and imposing new taxes, which discourages business investment abroad. In raising the discount rate from 4.5 to 5 per cent Thursday, the Federal Reserve Board seemed to be following the same course...
Willett--whom Otto Eckstein, professor of Economics, considers one of the best-informed Faculty members on the current crisis--said he expects the Johnson Administration will stay on the gold standard and fight the gold drain...
...Vietnam is simply not in Harvard's best interests (even though Harvard men have been among its chief architects). Financially, it hurts deeply. Research grants have been drastically cut. And the latest policy on the draft will serve to empty the graduate schools, drain them of tuition money, and send them begging. (On the other hand, of course, as the economy booms along on war profits, Harvard makes some extra money in the market...
...will make the powerful fanjet engines for the DC-10. American Airlines engineers lean toward the British Rolls-Royce RB.211, partly because they expect it to be cheaper as well as quieter than any comparable (33,000-40,000 Ibs. thrust) U.S.-built power plant. The potential drain on the U.S. balance of payments may tip the decision in favor of General Electric's CF6, which was derived from G.E.'s TF39, designed for Lockheed's far larger C-5A military transport...
Continental bondmen fear that Washington will soon clamp down on convertible issues. Many European investors, they report, are simply selling their American stocks to raise cash to buy such bonds. Such sales siphon dollars abroad, and the U.S. can ill afford the extra drain on its balance of payments...