Word: flow
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Dates: during 1960-1969
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What was Yalie reaction to this monument? There was so much sneering and jeering, so much callow, loudmouthed, self-satisfied commentary from the Yale audience that the sound track was usually inaudible, the flow of language lost. There was a good deal of cheering for home states and home towns. If a banjo played, it was necessary to clap our Yalie hands. If a march came on it was necessary to stamp our collective, sophomoric feet...
Dillon's report noted that in 1960 the Treasury Department lost $1.7 billion in gold. Last year the gold loss was $857 million. These deficits occur largely because foreign nations have been buying U.S. gold with their U.S. dollars, which flow generously into foreign coffers as the U.S. continues to spend more abroad than it gets back. The deficit in the U.S. balance of payments, predicted Dillon, will not be eliminated in 1962. Although Dillon did not estimate just what the deficit will be, it is possible that there may be no reduction at all this year...
with low-priced cottons, has exported almost as much in the past five months as it did in the previous twelve. To plug the flow, the U.S. invoked a gentleman's agreement-approved by 16 countries in Geneva last summer-which says that a country whose textile markets are disrupted by another country's exports can sharply restrict them. With that in hand, the Administration last week shut off imports of eight kinds of Hong Kong cotton textiles, including sweaters, shirts, raincoats and ginghams...
...into profits and leave the steel companies strapped for funds for capital expansion. "In 1960,'' said Worthington, "European countries invested some 10% of their gross national product in capital equipment, while we devoted only 5% to this purpose. Why? The answer is we have been discouraging the flow of investment capital. As a percentage of gross national product, corporate profits after taxes have been squeezed down from...
...abandoning the guaranteed U.S. purchase price of $35 an ounce. French Economist Jacques Rueff, who masterminded De Gaulle's successful currency reform plan, urges complete scrapping of the managed-money system and a return to the classical gold standard-a step that he argues would stimulate the international flow of capital and trade. This is supported by Philip Cortney, president of Coty Inc., who also wants the support price of gold raised to $70 an ounce, thus doubling the value of the diminishing U.S. reserve...