Word: lowe
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Dates: during 1960-1969
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...measures he is taking in lieu of devaluation may somehow succeed in stopping the run on the franc. France, after all, is in a far stronger position than Britain was when it devalued last year. Britain's gold and foreign-currency reserves had dwindled to a dangerously low level. France, despite the recent heavy losses, still has $4.1 billion in gold and reserves, and in addition to that the $2 billion credits made available in Bonn by the Ten and nearly another $1 billion open to it in Basel's Bank of International Settlements. Taken together, those...
...state employees to demand more pay and social benefits. For 24 hours, trains halted, mail distribution stopped, schools were deserted and telephone service snarled. Reflecting the crisis of confidence, capital once again began to flee from the country, and the Milan stock market slumped to a three-year low. In the middle of it all, the government resigned...
Raising the Flag. While Communist main forces lie low, the allies are pushing the war as hard as possible. Bombing of supply lines along the Ho Chi Minh Trail in Laos has increased since the bombing halt over North Viet Nam. Hundreds of ground patrols stab out daily to find and fix Communist forces and bring them to battle. The allied pacification effort has been accelerated, with the aim of hoisting as many yellow-and-red South Vietnamese flags as possible before any cease-fire might freeze territorial claims. Saigon wants to add no fewer than 1,000 hamlets...
...restorer uncovers a remarkable signature-"Claude Monet, 1877." Now fully restored, the canvas appears to be one of Monet's largest impressionistic versions of Paris' Gare St. Lazare. But how did Monet ever get covered over? Easy: it was the vogue, since impressionists were held in such low regard in the later 1800s. Value of the picture on today's market: at least...
...Truck, for example, more than 80% of this year's production had diesel engines, compared with only 55% in 1960. Meanwhile, Ford, General Motors and International Harvester are working on turbine-powered trucks that would be feasible on turnpikes. The turbine consumes fuel completely and quietly, producing a low noise level and nontoxic exhaust. But since its high fuel consumption makes the turbine-truck economical only at full throttle, the rigs would have to drop the trailers at terminals just off the expressway. From those terminals, conventional trucks could haul the goods through stop-and-go local traffic...