Word: drought
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Dates: during 1960-1969
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House Republicans, eying the new coinage revenues as greedily as a gang of Silverfingers, have suggested that the money be earmarked for specific programs such as combatting the drought in the Northeastern U.S. or reducing the federal debt. Last week President Johnson dimmed their hopes with a report by a special study team that included Treasury Secretary Henry Fowler, Director of the Budget Charles Schultze and Chairman of the Council of Economic Advisers Gardner Ackley; it pointed out that the exact amount of the new revenues would vary with the demand for coins, thus could not be depended upon...
...spell in 1950, he prophesied: "I will dry up your rivers and I will dry up your streams. This water shortage in New York City has been just a slight sketch and reflection of what I will do!" He lived to see his words come true with the drought...
Smeared Dung. To the hundreds of millions of illiterate Indian and Pakistani peasants in the villages, the war may be just another disaster to add to the constant plagues of drought, flood, tornado and poverty. Not so in the cities. New Delhi crowds danced in the streets at the rumor of Indian victories. As antiaircraft guns in Amritsar opened up on Pakistani planes, citizens cheered each white puff in the blue sky, shouting "Shoot him down! Kill him! Kill, kill, kill!" Workmen put up baffle walls in offices as protection against bomb blast, shopkeepers pasted strips of paper to window...
Taken together, the best features of these plans would repair the inadequacies of the current system. The money drought would be alleviated for developing nations, which would be able to borrow more readily from the international treasury. Nations suffering from temporary financial embarrassment, such as Britain, would be able to borrow fairly easily instead of devaluing. The Continental countries, by contributing their own currencies to the new reserve fund, would share in both the rewards and burdens of serving as banker to the world. And the increased supply of reserves would ease the pressure on the dollar because...
...farmer's shadow still looms large on Capitol Hill. However, there are signs that an increasingly urbanized America is losing patience with ever-mounting subsidies and surpluses. The political influence of the farmer has already declined. Thus, barring war or prolonged general drought, reasons Cochrane, "increased agricultural productivity is going to drive farm program costs, under voluntary control programs, into direct collision with the budget limitation objectives of the urban voter within the next three to ten years. A crisis in commercial farm policy is in the making...