Word: holding
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Dates: during 1960-1969
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...that he had beaten her the year after they were married; she had filed for divorce in 1966, and then withdrew. Currently, another divorce suit is pending. More important, said the defense, was the fact that "the federal and state constitutions guarantee to all religious groups the right to hold and preach doctrines." If that guarantee is meaningful, then surely a church cannot be liable for the consequences of stating a specific belief...
...flooded with Mao-carve. On display in Hong Kong are 1,000 statuettes, vases, panels and scrolls dedicated to the greater glory of the Chinese People's Republic. The titles are unlikely to win their authors any new accounts on Madison Avenue (typical stone-hewn example: Take Firm Hold of the Revolution, Promote Production). But if visitors can manage to avoid reading the copy, they will certainly be diverted by the eye-rolling ingenuity...
...along with the U.S., are members of the international Gold Pool; the pool members, in an effort to hold the price of gold close to the official rate, have been drawing on their own governmental gold reserves-now down to about $25 billion. France, because it is no longer an active member of the pool, was conspicuously missing from the invitation list. Piqued because of the omission, Charles de Gaulle decided to keep the Paris Bourse open last week after London's gold market had shut down at Washington's suggestion. The result (see THE WORLD) was wild...
...discount rate. The rate, which represents the cost to commercial banks of borrowing Federal Reserve money and thus affects their own rates to customers, went from 41 to 5%. The increase meant higher interest rates on loans, less available mortgage money and, just as the Fed intended, a hold-down on all but necessary spending because borrowed money would be more costly. That, for now, was the extent of the gold panic's effect on the U.S. man in the street...
...Before long the central bankers hope to implement the idea of special drawing rights that could be used as reserves along with gold and dollars. The S.D.R.s would be certificates representing members' credits in the International Monetary Fund. They would make it less necessary for other governments to hold so many dollars in reserve-and less burdensome for the U.S. to redeem these dollars with gold...