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Word: overdraft (lookup in dictionary) (lookup stats)
Dates: during 1970-1979
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Usage:

...when I left No. 10, and I'm still in the red," announced Britain's former Prime Minister Harold Wilson. For proof, he let his latest bank statement be photographed; it showed a hefty overdraft. "It represents," Wilson quipped wanly, "a sort of balance-of-payments crisis." Dubious Britons noted that he has just sold his memoirs to the Sunday Times for such poundage that even Timesman reportedly were afraid to admit the price. Insiders guess Wilson's fee is between $576,000 and $624,000-enough to turn all his red ink black...

Author: /time Magazine | Title: People, Aug. 9, 1971 | 8/9/1971 | See Source »

...Challenge and response" was a catch phrase that Historian Arnold Toynbee used to explain the rise of civilizations. When Granddaughter Clare Toynbee, 21, was challenged by her bank to pay a $240 overdraft, her response was to become a weekend stripper in a Soho nightclub for $72 a session. Confronted by a reporter, she confessed ambiguously, "Oh well, I suppose I couldn't keep it under cover forever," and admitted that the family took a dim view. "At first I felt ashamed to strip completely in front of all those men," added Clare, an Oxford graduate...

Author: /time Magazine | Title: People: Dec. 7, 1970 | 12/7/1970 | See Source »

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