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...weakness: a balance of payments deficit that reached $1.3 billion last year. He hopes to turn that deficit into a $1.2 billion surplus this year by the blunt and bru tal method of taking money from British pockets. If the British have less buying power, he reckons, they will import less, export more...
Hamilton went further to discount the possibility of an "armed black revolution," claiming that "riots are not preludes to revolution and the notion of black separatism is not at all pervasive in the ghetto. But the import of riots must be understood in terms of the grave psychological dilemma which blacks in America are breaking out of." Taken to its conclusion, Hamilton's implication is that blacks are through with the self-demeaning black mentality which is reinforced institutionally by the subtle and pervasive racism of which the Kerner Report spoke...
Regardless of the wording, the Administration insisted afterward that there had been no change of position and that there would be none. "We've run out of moves," said one high official. "The San Antonio formula is it, as far as we are concerned." Whatever the real import of Hanoi's intensified diplomatic campaign, one side benefit from the Communist viewpoint is the increased pressure it puts on Washington. United Nations Secretary General U Thant chimed in once again and put responsibility for getting talks started on the U.S. The Soviet Union condemned Johnson's "unwillingness...
...craftily penalized owners of the German bug. France, challenged at home by Italy's burgeoning appliance industry, has tried everything from a deliberate customs slowdown, which piled up thousands of Italian refrigerators at the border, to a formal request, now pending before the Common Market commission, for outright import quotas. The French also forbid the import of walnuts before Sept. 25-by which time the remnants of Italy's early-ripening crop have often rotted...
...ever made a generator of over 500,000 kw. And two days later Brown, Boveri proved it was no fluke by winning a Tennessee Valley Authority order for two huge 1,300,000-kw. generators. Despite the fact that the $28.5 million Swiss bid included $4 million in import duties, said the TVA, it was more than $10 million under any other. No less enthusiastic, American Electric President Donald C. Cook cheered the arrival of a "third manufacturer" in the U.S. market, and went out of his way to twit the American producers. "They should welcome this," he said, "because...