Word: standardize
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Dates: during 1950-1959
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...Gaitskell's promises (retirement at half pay for all, more schools, hospitals, housing), Macmillan asked: "How can you pay for all you promise?" Stung to anger, Hugh Gaitskell, onetime professional economist, retorted with yet another piece of pie-in-the-sky: "There will be no increase in the standard rate of income tax under a Labor government so long as normal peacetime conditions continue." And from London, Labor Party headquarters chipped in: "We are going to abolish sales tax on such essentials as clothes, furniture and many household goods." In shocked response, newspapers, Tory candidates-and voters-all over...
...automakers were also busy last week bringing their standard 1960 models to market. Ford Motor Co. unveiled its 1960 line to the public, showed 15 models that are the longest, lowest and widest that Ford has ever built. The company also announced factory list prices for its compact car, the Falcon. A two-door model will list for $1,746 v. $1,810 for Chevrolet's Corvair; a four-door Falcon will list for $1,803 v. $1,860 for a Corvair. For its imported line Ford showed a restyled, British-built Anglia with a four-cylinder engine that...
Talk about a change takes two forms. One is that the U.S. should junk its present managed-money system (in which gold is used only as a currency reserve and to settle international accounts) and return to the fully convertible gold standard, abandoned in 1933, under which dollars could be exchanged for gold coins. The other-usually joined with the first-is that the U.S. should double or triple the present gold price of $35 an ounce, thus devaluing the dollar and in effect automatically increasing the monetary value of the official gold holdings of the free world...
Among the chief advocates of a return to the full gold standard for both the U.S. and European nations are French Economic Adviser Jacques Rueff, the architect of France's successful financial-austerity program, and Philip Cortney, president of Coty, Inc. and chairman of the U.S. Council of the International Chamber of Commerce...
They, like the rest of a small but dedicated group of economists, believe that the gold standard is the only answer to the world's present monetary problems, such as inflation and a concentration of capital. They believe that a return to the rigid fiscal discipline of the gold standard would act as a brake on inflation by preventing governments from overspending, head off world recessions by doing away with the excesses that lead to them. A full gold standard, as they see it, would also put a damper on sudden expansions of credit not backed by gold, help...