Word: outflow
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Kangaroo Courts. To ward off financial chaos, Nkrumah has decreed a strict austerity program. Stiff currency controls have stifled capital outflow. Subsidies to cocoa farmers were cut by a third, and crippling new purchase taxes of from 10% to 67% were levied on imported goods from clothes to automobiles. But the taxes have only succeeded in cutting off imports; from July to September, customs duties were $3,000,000 less than expected. A new compulsory savings scheme requires wage earners making more than $28 a month to give the government 5% of their pay in exchange for government bonds; corporations...
...weeks past the gloomier chroniclers of U.S. business had been warning of the danger of another sharp rise in the U.S. balance of payments deficit and, with it, another damaging outflow of U.S. gold. Last week the pessimists had fresh ammunition: Commerce Department figures showing that U.S. exports, after dropping 3% in August, fell another 2% in September. Surprisingly enough, neither Washington nor Wall Street seemed as concerned as might be expected...
Harold F. Wilkinson, head section man, attributed the course's popularity to "the growing interest in and awareness of economic questions in world affairs. "Look at the gold outflow problem," he said. "If you take Ec 1, supposedly you learn the explanations...
Doermann says on this subject, "If a boy's family regards cash outflow as what determines college, we lose out...if the family is going solely to dollars, we are hurt in competition." Then Doermann says, "I don't mean to take a moral tone," which seems a bit strange in view of his preceding remarks. But he realizes that the Harvard scholarship scale can be very tough on the middle-income family. "A middle-income job requires a certain standard of living--the money for spending is not great," he concedes. "A considerate kid may have a real problem...
...measure to stem the outflow of U.S. gold, President Kennedy banned the future sale of all non-U.S.-made goods in overseas military exchanges, including Scotch whisky. On Formosa, preparing for the visit of Vice President Lyndon Johnson, U.S. brass were vexed to find that they could not supply the standard L.B.J. ration of Cutty Sark. They flew some in from the nearest source-Hong Kong...