Word: propped
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...turned out, the Tory government got more devaluation than it bargained for. Since last October, the foreign exchange fund has been forced to spend $516 million of its U.S. reserves not to press the dollar down farther, but to prop it up at 95? U.S. Last month the drain on its reserves was $115 million. Last fortnight heavy selling by foreign exchange speculators betting that the Canadian dollar would slump still lower suddenly raised serious doubt that the government could hold the line without exhausting the exchange fund altogether-and confronted it with a tricky political choice. Rather than...
After a year of financial difficulties, the Harvard Advocate has planned a meeting with its trustees and Dean Watson for May 1 in New York to decide on the of a fund drive to prop up the magazine's solvency...
...defense of the proposed increase, Deputy Post-master General H. W. Brawley has characterized the present second class rates as a "prop" for publishers, "to aid the building of a broad circulation base on which higher advertising rates can be mounted." Brawley's statement really applies only to the popular magazines, and it has some basis in fact. But these magazines can easily pass a rate increase on to their advertisers and subscribers...
Most Vietnamese officers are eager to absorb U.S. techniques and combat tactics, and on the military level, U.S. suggestions and Vietnamese orders mesh efficiently. In politics, the situation is more difficult. Last week a government plane flew over Red-held territory to drop prop aganda leaflets bearing Diem's New Year's message to his people. The plane crashed, killing eight Americans and two Vietnamese. Another plane was scheduled to take off later and scatter more leaflets, this .time bearing a good-will message from President John Kennedy. Both sets of leaflets could not be dropped from...
...Roosevelt's Administration in 1939 as a means of preparing the U.S. for World War II, the stockpiling program was expanded slightly by Congress in the 19405, and greatly during the Korean war. In latter years, apart from a modest military utility, the program became a device to prop certain domestic industries, bolster commodity prices and even to work off the farm glut. Major holdings...