Word: outflow
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Dates: during 1950-1959
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...chancelleries around the world, U.S. diplomats were explaining to foreign governments last week that the U.S. is in the midst of a major change in foreign policy. The outflow of dollars from the U.S. would exceed the inflow by some $4 billion this year; the end of the Marshall Plan period of unrestricted overseas spending had come. No, the U.S. did not intend to cut out foreign aid where it was needed, nor to retreat into "Buy American" protectionism, nor to cut dangerously its overseas military forces. But it might have to do all these things if such industrially strong...
...running into the red in its international transactions, with the result that U.S. gold reserves are shrinking as gold flows overseas to balance the nation's accounts. If the gold outflow continues for even a few years, it could endanger the value of the dollar, with shaking results for the entire world...
...world are interdependent. By fighting for sound money at home, he can encourage freer world trade by keeping the world's reserve currency, the U.S. dollar, dependably stable. By persuading Western Europe to assume a fair share of the foreign-aid burden, he can help to slow the outflow of U.S. gold reserves and thus help to keep the dollar sound...
...fight for a balanced U.S. budget for fiscal 1961, disputes were rumbling that only the President could settle. The Pentagon was crying that U.S. defensive strength will suffer if the Administration insists on holding spending to the $41 billion level of the current fiscal year. In fighting against the outflow of dollars to foreign countries, the Administration was studying a possible cut in foreign aid and a revision of trade policies, with an eye toward shaping a new foreign economic policy that would hold the free world together...
...this does not mean that the U.S. is about to go into international bankruptcy. The U.S. still holds nearly $20 billion in gold, half the world's supply, and an important part of the U.S. capital outflow is private investment overseas that will pay off in years to come. If it was not for foreign aid-$5.5 billion last year-the U.S. would even have $1 billion balance of payments surplus. But the swing in the international terms of trade does mean that in defense of its long-range economic strength, the U.S. has had to take...