Word: scrappings
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Dates: during 1970-1979
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...nations are odious but some are less odious than others, and by this stony, unlovely path, he reaches patriotism. To some of us, this seems the cleanest way to reach it. We believe in the roses and the toads and the arts, and know that salvation, or a scrap of it, is to be found only in them. In the world of politics we see no salvation, we are not to be diddled, but we prefer the less bad to the more bad, and so become patriots, while keeping our brains and hearts intact...
...payments deficit into a surplus-and was prepared to use its economic weapons, notably the 10% surtax on imports, for as long as it took to accomplish the goal. But at the IMF meeting, Connally dropped the requirement that the U.S. must be in the black before it would scrap the surtax. Instead, he said at a press conference, what was needed was "assurances that a formula and procedure is agreed on that will rectify" the U.S. imbalance. The U.S. will chuck the surcharge, he promised, provided that other governments 1) "make tangible progress toward dismantling specific barriers to trade...
...lost every previous round, but unlike his fights in the ring, this time only the final round counted. Thus, after a four-year legal scrap, Muhammad Ali last week won a unanimous decision on points. The Supreme Court reversed his 1967 conviction for refusing induction on the grounds that the Government had wrongly attacked the basis of his beliefs...
...system failure caused the first prototype to crash last Dec. 30. Though company designers are convinced that the defect has been corrected, the plane has also been hampered by delays in development of its advanced-model Pratt & Whitney engine. An influential group of Congressmen has urged the Pentagon to scrap plans for any new fighters and concentrate instead on updating McDonnell-Douglas' widely acclaimed F-4 Phantom. At one point last week, reports TIME Pentagon Correspondent John Mulliken, the Navy's command was certain that Packard had decided to scuttle...
...WIDER BAND. The mildest proposal put forward by advocates of flexibility is to scrap the International Monetary Fund requirement that nations must prevent the price of their currencies from varying more than 1% above or below their official dollar values. Germany and The Netherlands are already letting the mark and guilder float-that is, find their own values based on supply and demand. Robert Roosa, former U.S. Treasury Under Secretary, proposes that IMF members let their currencies fluctuate perhaps 2½% above or below official value. Thus, small changes in the values of currencies could be made by the free...