Word: outflow
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...Bonn openly angry. Retorted one German: "Much of American postwar aid to Germany came from food and military surpluses, which were given painlessly -why can't we do the same?" Erhard himself argues that the U.S. balance of payments' deficit is onlytemporary-the result of a capital outflow that can soon be ended. Shifting a billion across the ledgers just now and cutting the German bank rate from 4% to 3½% to reduce the temptation to investors to move their funds from New York to the Frankfurt money market, says Erhard, are help enough for the dollar...
FISCAL PROBLEMS. Kennedy has promised strong action to protect the value of U.S. currency and to halt the gold outflow. As antirecession measures, he may request temporary tax cuts and increased unemployment benefits from Congress-but not vast public-works programs. Although a deficit is all but inevitable, Kennedy will try to stay close to Eisenhower's balanced $80.9 billion budget. Budget Director David Bell has already warned executive agencies to stick within previously decided limits in revising their estimates, has promised that increases will be restricted to "a relatively small number of items" upon which the President himself...
...Coyne of the Bank of Canada, government experts have long been upset over the way Canadians go to the U.S. for capital funds. They argue that continued heavy borrowing in the U.S. not only erodes Canada's interest in her own natural resources, but increases the already serious outflow of interest and dividend payments. Thus, by penalizing U.S. investors they hope to force Canadians to finance their own basic developments...
Government has long been to encourage U.S. business to invest abroad. Now that aim is being re-examined and questioned, even in Government circles, because foreign investment contributes to the outflow of U.S. gold...
...stock (44%) of its British subsidiary, the prospect of $300 million in U.S. capital flowing to Great Britain so worried Treasury Secretary Anderson that he personally tried-unsuccessfully-to get the company to reconsider its plans. The Ford episode highlights the whole question of whether the vast outflow of U.S. private capital should be curbed as one method of dealing with the gold outflow...