Word: harold
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Dates: during 1960-1969
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...Robert Novak came out with a story noting underground complaints about Speaker John McCormack, and there was a sudden outpouring of sympathy for the Speaker, a well-loved figure, and just about any bill he wanted. Though he did not show his face or utter a word, Education Commissioner Harold Howe also proved a force. Under the G.O.P. plan, several of OEO's programs, including the Job Corps, would go to Howe's Office of Education, but Southerners would do almost anything-including voting to preserve OEO-to avoid giving more power to a man they regard...
...News Is Coming Soon." The news came all too soon for once-proud Britain. After a week in which the long agony of the British pound reached a writhing climax, Prime Minister Harold Wilson's Labor government announced a cut in the pound's exchange value from $2.80 to $2.40-a 14.3% devaluation...
...black day for all of us," said John Davies, director general of the Confederation of British Industry, after emerging from No. 10. The Observer called devaluation "a brave act," but most of the British press took off after Harold Wilson's scalp. "This is D-day for Britain without the flags," said the Sunday Mirror. "The 'D' this time stands for disaster and disillusion as well as for devaluation." Since Wilson had consistently denied that he would ever devalue the pound, many Britons felt betrayed as well as disheartened. "I am quite shocked," said Sir Patrick Hennessy...
Furtively Bruited About. While all this was going on Harold Wilson and his ministers were bent on a course that they had tried desperately to avoid ever since he took over as Prime Minister three years ago. Two weeks before, Chancellor Callaghan had gone to Wilson and reported that the Treasury's quarterly forecast showed that the outlook for 1968's balance of payments looked even worse than had been expected, and in fact suggested that there would be no improvement at all over the current year. In July, Callaghan had said publicly: "Those who advocate devaluation...
...Britain's first devaluation was in 1931, when it went off the gold standard in the midst of the Great Depression; that move forever tarnished Labor Prime Minister Ramsey MacDonald's image in his party. The second was Attlee's in 1949, when none other than Harold Wilson, then head of the Board of Trade, took a major part in planning the devaluation. Properly done, a devaluation can turn a nation's trade deficit into a surplus practically overnight. It is not, however, a politician's panacea, since it means initially a sharp reduction...