Word: drains
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Dates: during 1960-1969
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...dollar. Other major purchasers were Middle Eastern residents, panicky over the Jordanian bombings, who were converting their currencies into the safest of all assets. The rising purchases and rising price sounded a new warning to the U.S. Treasury, which has been steadily losing gold for three years. This drain, as Chase Manhattan Bank Vice Chairman David Rockefeller said last week, though no cause for immediate alarm, is "perhaps the most serious international economic problem this country faces...
...many a helpless housewife and hapless weekend handyman, life's most nagging little crisis is an encounter with a leaky roof, a broken window or a clogged drain. Professional repairmen are hard to find, harder to pay. The do-it-yourself books often produce only frayed tempers, flayed thumbs. Last week, from Los Angeles to Long Island, the unhandy were entrusting chores to a new and spreading U.S. service: the home-repair club...
...project, was left empty-handed and-far worse-derided by the Republicans for failure to rally the overwhelming Democratic majorities behind his program. In the last fitful week, two more of Kennedy's cherished bills-the minimum-wage extension and the school aid bill-went down the drain. Kennedy himself was head of the Senate delegation that went to a Senate-House conference committee trying to work out a compromise between his own version of the minimum-wage bill (boosting wages from $1 to $1.25 per hour, extending coverage to 4,000,000 jobholders) and the House bill...
...thousand girls-have swiftly acquired at least 500,000 card-carrying members (at 1 guinea or $2.95 for life membership). One club, reported the Spectator last week, includes among its members "ten M.P.s, eight millionaires, more than 60 knights, 35 peers, and enough businessmen and captains of industry to drain dry the Stock Exchange and the Savoy Grill...
...some time, volatile short-term rates-the costs of financing shipments and storage of goods-have already eased. Many short-term Government securities are held by foreign investors, and the drop in interest rates may encourage them to seek higher rates elsewhere in the world, cause a drain on U.S. gold reserves. The gold outflow has picked up speed in recent weeks, now totals some $384 million this year. But this is a healthy improvement over this time last year when the U.S. had lost nearly $1 billion in gold. Treasury officials are confident that easier credit will not cause...