Word: markings
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Dates: during 1960-1969
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...fact, the franc's plight was perhaps more a result of the strength of the Deutsche Mark than any weakness of its own. West Germany has been running large balance of payments surpluses regularly and has been regularly forced to sell marks to maintain the parity of four marks to the dollar. The mark is certainly under-valued, out the Kiesinger government is understandably reluctant to revalue upwards. To do so would make German goods more expensive on the world market and undercut the prosperity West Germans have been enjoying for the past two years--and it would...
...pressure on the mark--and the Keisinger government--for revaluation was great, and most currency speculators became convinced that the Germans would revalue. Hence the rush to convert holdings into marks before the price of the mark went up. And, of course, French financiers and speculators, fearful of the return of the economic chaos that had characterized the Fourth Republic, were the largest buyers. Because lack of confidence in a currency, like a run on a bank or American foreign policy, moves inexorably toward confirming its premises, they seemed likely to be proven correct...
THEN THERE are the Germans. The franc was not the only currency being attacked by speculation; the currencies of many other nations--particularly of the pound--were placed under strain by the desire to convert into marks. That pressure could have been relieved by a prompt revaluation of the mark, but the Germans played coy with the money markets, issuing occasional pronouncements to the general effect that everyone should ignore the speculation and it would finally go away. They knew it was costing the French $800 million in gold per day to maintain the parity of the franc--and they...
Before the noisy crowd of 1800, though, the Pennsylvania team upped its lead from 10-2 to 13-2 as Doug Ward defeated sophomore Dean Sheppard, 8-2, at 145. But Pat Coleman easily eliminated Franklin & Marshall's co-captain Dave Martin, 10-3, and then Mark Faller won his match, 11-3, to cut the lead to 13-8, as the Crimson demonstrated its superiority in the middle and upper weights...
...biggest question mark is in the goal, where Chip Wilson and Brian Dench seemed shaky. Wilson came out for the team late because the team only had one goalie, and that may account for some of the unsteadiness on his part. But neither seems to have the ability to give the freshmen the goaltending they will need it the unknown Dartmouth team should prove to be a top-flight opponent...