Word: restoree
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That may be so, but some extremely heavy challenges remain for Schmidt. No later than the fall, he must confront the Bundestag with West Germany's 1982 budget. To restore balance to a faltering economy, he needs to make deep cuts in West Germany's cherished social programs...
Even before Reagan made his televised threat. Democrats were having second thoughts about trying to get by with unrealistic cuts that would later be reversed. Congressman Leon Panetta of California, a member of the Budget Committee, telephoned Perkins in Kentucky to warn that the Republicans, as they had with the...
The notion of returning to the gold standard comes from the same supply-side economists who fostered the cuts in personal income taxes that President Reagan is now trying to get through Congress. Such supply-siders as Economist Arthur Laffer and Consultant Jude Wanniski have been putting the gold bug...
During World War I, however, Britain went off the gold standard in order to make it easier to finance its military effort. In 1925 Winston Churchill, then Chancellor of the Exchequer, returned the country to the gold standard, believing that such a step would help restore the British Empire to...
The Bretton Woods Conference of 1944, which established the postwar international monetary structure, set up the gold-exchange system. The price of gold was fixed by the U.S. Treasury at $35 per oz., and Washington agreed that foreign governments could always exchange their dollars for gold. This system worked well...