Word: heathcoat
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Dates: during 1960-1969
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Chancellor of the Exchequer Derick Heathcoat Amory moved to cut domestic consumption last April by imposing stiff restrictions on installment buying. He followed through last month by raising the bank rate to an anti-inflationary 6%. And Prime Minister Harold Macmillan began a series of pep talks designed to spur sales abroad. "We have always been merchant adventurers," he told a London audience of 400 top businessmen last week. "That is our tradition. I urge you to recruit your fellows into those noble ranks." He noted that "our German friends have coined a word, Exportfreudigkeit, or roughly 'export...