Word: revamp
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Dates: during 1960-1969
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What had happened was that representatives of the Group of Ten,* meeting in London, after years of haggling had agreed on a way to revamp the free world's overworked, undercapitalized monetary system. Basically, the plan would create artificial reserves to supplement gold, the dollar and the pound. Known as SDRs (for "special drawing rights"), they are, in effect, little more than bookkeeping entries supported by the prestige of the International Monetary Fund. Members of IMF must agree to pledge their reserves to back up the SDRs, but they will not actually make additional contributions...
Some states are groping toward solutions. New York and Rhode Island are holding constitutional conventions this summer, and as many as 16 other states may soon revamp outdated charters. California is trying to attract better legislators with better pay (annual salaries were raised from $6,000 to $16,000 last year), research staffs and offices of their own. In Illinois, where lawmakers use corridors as offices, a new $18 million legislative office building will soon be built. But improvements come slowly. State governments are more often characterized by "stagnation and inertia," says the C.E.D. report, than by drive and initiative...
...Revamp Budget...
...smog-control law was enacted, requiring individual counties to take action but also giving the state power to step in if nothing is done at the local level. A long-needed reform centralized the state's fragmented, inefficient purchasing system. Plans are in the works to revamp the scandal-ridden Liquor Control Board, stripping it of its responsibility for narcotics control. In the traditionally delicate area of ethics, some tough new regulations were enacted, including one that bars a legislator and any of his family from doing business with the state...
Another major change to be considered would revamp the present seminar program -- now non-credit -- into a course for credit given by the University...