Word: nationalizes
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Dates: during 1970-1979
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...central banks, should step in and buy large quantities of dollars on world markets. This would require assembling a vast war chest of funds to show currency speculators that Washington has the money to back up that policy. Two fast and impressive steps would be increasing sales from the nation's $60 billion gold reserves, as former Federal Reserve Chairman Arthur Burns suggests, and enlarging the so-called swap network of dollar defense funds from $25 billion to $100 billion, as Senator Jacob Javits proposes...
Three years ago, Communist Pathet Lao guerrillas emerged from their jungle hideouts and quietly but firmly seized power in the languid nation once known as "the land of a million elephants." Since then, the People's Democratic Republic of Laos has been off limits to most Western journalists. Among the handful of U.S. reporters who have been allowed to visit the country is TIME Hong Kong Correspondent Richard Bernstein. His report...
Moving with the force of a runaway freight, a strike by railroad clerks swept the country last week and, before it ended, seriously snarled most of the nation's train traffic and threatened to derail much of the economy. If nothing else, the four-day ruckus showed just how dependent the U.S. still is on its rail system-and how quickly it can be disrupted by a single union...
...local against just one line, the Virginia-based Norfolk & Western Railway, which has been struck by the clerks for more than two months. But other B.R.A.C. locals, raising picket signs in sympathy, tied up operations at 74 lines in 42 states, idling up to 350,000 of the nation's half a million rail workers, stranding thousands of commuters and millions of tons of freight. President Carter stepped in after three days of chaos. Acting under the emergency provisions of the Railway Labor Act, he called for mandatory mediation of the dispute, which requires the clerks to return...
Thus did a single 4,600-member local bring two-thirds of the nation's rail operations to a halt. And the disturbing fact remains that, unless the Administration can smooth over the bitter differences between B.R.A.C. and N&W, a replay of last week's turmoil on the rails remains a possibility...