Word: drains
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Dates: during 1970-1979
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...first decade since the Civil War, more people moved into the 16 states of the South and the District of Columbia from 1960 to 1970 than migrated to other parts of the country. The population drain in which 3.5 million residents fled the region between 1940 and 1950 was reversed in the last census. In a recent survey six of the ten states with the largest growth rate in new manufacturing plants were states of the Old Confederacy. The agrarian economy of King Cotton has been top pled by agribusiness. Sharecroppers have been replaced by machinery; new cash crops...
...proposed ways of dealing with the danger are to fill in the pond, to drain the pond, to construct a fence around the pond, or to radically alter the landscape around the pond. Gruson had no comment on the probability of any of these being adopted...
...Cash Drain. In turning to the stock market to raise capital, the Post Co. offered several reasons in its prospectus. It said that the lack of a public market for its stock had inhibited diversification of the investment portfolio of its profit-sharing trust, had complicated the estate planning of the controlling stockholders, and had foreclosed the company from obtaining loans to finance its growth, including a new Post plant in downtown Washington. In the past, the company had assumed an obligation to repurchase the stock it distributed to employees. The prospectus said that "over the past' three years...
Some automatic factors will help reduce the dollar drain soon. Inflation is subsiding in the U.S. but growing in Europe and Japan. That trend and last week's currency changes should increase U.S. exports and hold down imports by making the prices of American goods look more attractive than before. Any lasting improvement in the balance of payments is unlikely until the U.S. finds ways of sharpening its competitive strength by checking the American wage spiral and spurring research and development (instead of stifling it in some areas). For financial as well as other reasons, the U.S. needs...
...military role in the world has continued to grow, while the power of the American economy, relative to the rest of the world, has dwindled. U.S. military expenditures abroad contributed an average $2.4 billion a year to the balance of payments deficit in 1960-64, but last year the drain was $3.4 billion. The Viet Nam War alone siphoned out around $1.5 billion...