Word: level
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Dates: during 1960-1969
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...disruptive elements," placed the army, police and people's militia on full alert and warned that anyone who failed to report to work would have to give a personal accounting. The nation's schools have become incubators of anti-Soviet feeling, even down to the elementary level (see color). Fortunately for Prague's rulers, the schools will be closed for the summer vacation until next month...
...pound hit a record low of $2.3813 in London, apparently because the Bank of England felt it safe to support the price at a lower level than the $2.3825 it usually tries to maintain as a floor. The value of the U.S. dollar dropped against the mark in Frankfurt but held steady elsewhere. The free-market price of gold moved scarcely at all-even though that volatile price is supposed to shoot up on any widespread doubts about the value of paper money...
...proved to be quite the opposite of the disgrace that devaluation has often been thought to be. The financial world rang with praise of President Georges Pompidou's astuteness in cutting the franc when most of Europe was on vacation, in advance of any crisis, and to a level-18.0040-that most moneymen thought was about what the franc really is worth. Contrasting the months of turmoil that followed the 1967 devaluation of the pound with the calm reception of the French devaluation, the London Times concluded wistfully that "the differences show clearly the differences in political competence between...
This summer's "year-end" clearance is more intense than usual. New car sales, though strong over the year, fell 12% below their 1968 pace in July and during the first ten days of August. General Motors sold 411,000 autos, off 17% from last year's level. Chrysler dropped 20%, from 166,000 to 132,000, and American Motors 12%, from 26,000 to 23,000. Only Ford bucked the trend, with sales of 251,000, up 2% over the comparable 1968 period. The industry's inventory of 1969 models increased substantially during July, to nearly...
...export tax with a 51% mineral tax. The nationalized companies' holdings have a book value of about $784 million. Kaunda expects to pay shareholders for their loss entirely out of future copper profits. These are already so heavily taxed that even if dividends are maintained at their present level, the Zambian government can hope to realize only $5,000,000 a year from the two companies' $1.1 billion-a-year sales of copper. Thus the final payoff could be delayed for decades...