Word: maintainence
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Dates: during 1950-1959
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...amount of sterling they can convert into hard currencies, the British action falls short of true convertibility. But henceforth, foreign businessmen will be able to change pounds freely into dollars (at an official rate ranging between $2.78 and $2.82). The result, so London hoped, would be to maintain the pound's position as Europe's leading medium of exchange-a vital matter to the British, who. with only 4% of the world's money, do 40% of the world's banking...
...which ran up a $460 million deficit in E.P.U.-will have to keep inter-European payments more closely in balance than before. Along with this consequence of convertibility went another risk -the prospect that any of the ten new "convertible" nations that fails to control its domestic inflation and maintain its exports at a high level will be faced with a deadly run on its gold and dollar reserves...
...month since the fall of Premier Ahmed Balafrej's conservative government, the King had been forced to shop intensively for a Cabinet that would somehow maintain his nation's delicate balance between extremes. Twice the King rejected Cabinets that he considered too far to the left, but last week he agreed to a government headed by slight, shy Abdallah Ibrahim, who is as left as they come...
...white-collar workers (25 million to 25.5 million) by 1957, and the trend was accelerated by the recession. Unions have had comparatively little success in recruiting the new army of technical and service workers. If it does not recruit them, says Kassalow, "organized labor would be lucky to maintain its present membership of 17 or 18 million over the next decade. It would then become a very diminished minority...
...orbit, but the Russians were quick to put in a counterclaim. Leonid Sedov, often an official spokesman for Soviet missilemen, declared that each of the three Soviet carrier rockets that orbited the earth weighed considerably more. These weights are not known accurately outside Russia, since the Russians maintain that only the instrument payload is important. The payload of the dog-carrying Sputnik II (instruments, dog, transmitter, etc.) weighed 1,120 lbs., v. the Atlas' 200 plus. Sputnik III's payload weighed...