Word: sound
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Dates: during 1950-1959
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...Rockefeller invasion was shrewdly planned, and the mere sound of the Rockefeller trumpets from afar worried many Nixon supporters. "A synthetic boom could easily be organized," warned Nixonite Thomas Pike in a Paul Revere letter widely mailed to Los Angeles Republicans the week before Rocky's trip. But as Rockefeller first arrived on the scene, his every move seemed to be in the wrong direction. Early morning smog forced his plane to land in Burbank, 25 miles from Los Angeles' International Airport and the official reception. After an hour-long trip in a rattletrap bus, Rocky finally caught...
Beneath this wide sweep of policy was a bedrock Administration decision to make the sound dollar the basis for the U.S. economic system, and to make a sound U.S. economic system the keystone of a free-world economic policy based on growing prosperity through freer trade. The drive was the President's own. But the man behind the drive was a tall (6 ft. 2 in.), mild-mannered Texan with a lingering touch of the prairies in his soft twang: Robert Bernerd Anderson, 49, Secretary of the Treasury and the strong man of Dwight Eisenhower's Cabinet...
Democrats, and some Republicans too, have charged Anderson with overstressing sound money at the expense of economic growth. A little inflation, the argument runs, is a cheap price to pay for rapid growth. But as Anderson sees it, price stability is the friend of economic growth, not its enemy. What counts, he holds, is "sustainable growth" (a favorite Anderson phrase), which requires capital investment out of savings. "A high rate of saving," he argues, "is indispensable in achieving a high rate of economic growth." And since inflation is the enemy of thrift, it is in the long run the enemy...
...prospect of revising foreign-aid policy (and some of its staffers still are), but Anderson found a sympathetic listener in Under Secretary (for Economic Affairs) C. Douglas Dillon, longtime international banker both on Wall Street and in Government and a firm believer in the imperatives of a sound world economic policy. Gradually the President's statements on foreign aid began to soften. By last September, Anderson could bluntly tell the World Bank and International Monetary Fund meeting in Washington: "There must be a reorientation of the policies of the earlier postwar period...
...sees it, not only the interests of the U.S. but the interests of all the free world. In his global view, his policies at home and his policies abroad are interdependent, just as the U.S. and the rest of the free world are interdependent. By fighting for sound money at home, he can encourage freer world trade by keeping the world's reserve currency, the U.S. dollar, dependably stable. By persuading Western Europe to assume a fair share of the foreign-aid burden, he can help to slow the outflow of U.S. gold reserves and thus help to keep...