Word: outflows
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Dates: during 1960-1969
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...Plan aid rebuilt much of postwar Europe. Now, to fight the battle of the balance of payments, the world's two major exporters of capital-the U.S. and Britain-have lurched toward controls. Under newly tightened restrictions on foreign loans and investments, Washington hopes to cut the capital outflow by $2 billion this year. Eu rope stands to lose about $1.5 billion in American capital, Japan and Australia about $300 million between them...
...same time, a growing disenchantment with foreign aid has led to a leveling-off in grants and other assistance. Although the gross national products of industrialized North America, Europe and Japan have increased more than $300 billion since 1961, the net outflow of aid from their governments is just about the same as it was then-$6 billion. U.S. foreign aid accounts for half the total; but the U.S. gives only six-tenths of 1% of its G.N.P. in aid-a much lower ratio than France, Italy, Belgium and The Netherlands, all of which give 1% or more...
...Suburban Outflow. By whatever name, what is happening in Virginia is enough to unstatus the quo from Accomac to Yorktown. Not only did the assembly approve a record two-year budget of $3.13 billion, up 27.5% from 1966-68; it also gave Godwin authority to borrow $81 million of it. If voters approve in a November referendum, Virginia for the first time this century will float a general obligation-bond issue, a routine fiscal expedient long employed by all but a scattering of states...
...Virginia's financially starved educational system ranked 38th nationally in dollars spent per pupil, not to mention the illiteracy rate and median school years completed. It ranked dead last among ten Southern states in school expenditures as a percentage of personal income. Yet, thanks largely to the suburban outflow of well-to-do Washingtonians, Virginia's voters today are the wealthiest citizens in the entire South...
Most of the reasons for the gold crisis are rooted in the U.S. The country's continuing balance of payments deficit, its constantly out-of-balance domestic budget and its rising outflow of money to finance the war in Viet Nam are basically responsible for global concern about the soundness of the dollar. Concern has led to the belief that the U.S. would soon have to stop selling gold to all buyers at $35 an ounce and somehow raise the price. The possibility of a price increase touched off the worldwide run on gold...