Word: gilts
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Among the gilt mirrors and airy hangings of Marlborough House, it seemed a wizard idea: Something should be Done about Viet Nam. The 21 delegations gathered in London last week for the 14th Commonwealth Prime Ministers' Conference overwhelmingly approved the notion. But in the execution, it proved a bit more complex. The plan was to send a five-nation team, headed by Britain's Prime Minister Harold Wilson, to Hanoi, Saigon, Peking, Moscow and Washington to seek a way to end the war. The team's spread of political ideologies, ranging from the demagogic leftism of Ghana...
...Plaque. Rivers' chief complaint is that McNamara has, in many of his administrative decisions, usurped the rights of Congress. On the chairman's rostrum in his committee room he has placed a walnut plaque, inscribed in gilt lettering "U.S. Const.-Art. 1-Sec. 8. The Congress shall have Power . . . to raise and support Armies . . . provide and maintain a Navy . . . make Rules for the Government and Regulation of the land and naval Forces...
Banded together in the area are 45 countries-the Commonwealth and its traditional trading partners-as disparate as Jordan, Iceland, Pakistan, Eire, Ghana and South Africa. They invest most of their own foreign-exchange holdings in British gilt-edged bonds, thus swelling the reserves that Britain can use to defend the pound. When these countries run into deficits in their foreign trade, which happens particularly when commodity prices drop, the situation changes: the sterling area members cash in their bonds and thus pull down Britain's reserves. This is precisely what occurred this year; so far, the sterling nations...
Last week President Johnson played the most gracious sort of national host to Italy's visiting Premier Aldo Moro. He afforded Moro the rare privilege of attending a U.S. Cabinet meeting. He showered Moro with gifts-including a 19th century Sheraton gilt mirror, a pen stand with two gold pens, a matching Accutron desk clock, a photograph of Italy taken from U.S. satellite Tiros IX, a stained-glass cross, a blue nylon sleeping bag for a Moro daughter, and a Texas cowboy costume for Moro...
Warhol soup cans vie for the ready money with old masters. Alfalfa fortunes, born yesterday, successfully bid for art treasures against landed wealth. Rich plumbers dispossess the gentry on art-museum boards. Such propositions tickle Baird, an art insider, who deserted a gilt-framed career (New York's Frick Collection, Washington's National Gallery of Art) in favor of novel writing. Baird wields a deft brush to capture art's comic possibilities, but he wastes his brush strokes on a canvas of postage-stamp size...