Word: term
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Dates: during 1950-1959
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...abiding concern: saving his skin. Last week the onetime lathe operator, whose death has been postponed five times in the past four years, won yet another legal delay, while simultaneously (and unwittingly) nudging forward the cause of Negro civil rights in the Deep South. Opening its fall term, the U.S. Supreme Court refused to review -and thereby affirmed-last January's far-reaching decision of the Fifth U.S. Circuit Court of Appeals: that Goldsby's constitutional rights were denied by "systematic exclusion" of Negroes from the jury that tried...
Mortgage on Fort Knox. Europe's new prosperity has shifted the whole balance of the U.S.'s terms of international exchange. Last year U.S. exports dipped by $3 billion, while Europe's shipments to the U.S. have gone on growing. Last week London newspapers reported that for the first time in the 20th century Britain is now selling more to the U.S. than it is buying. Taking all items into account (exports, military costs, economic aid), the famed dollar gap has been closed; since 1950 Europe has increased its pile of gold by $8 billion...
Merchandise imports are greater than exports, and they are growing faster than exports. In particular, Canada's deficit with its biggest trading partner, the U.S., is growing. The huge flow of long-term U.S. investment, which since the war has filled the trade gap, is slackening. At the same time, outgoing dividends are increasing in proportion to the cumulative total of investment...
Canada's estimated foreign 1959 income is $7.4 billion, outgo more than $8 billion (much of the difference is made up by unhealthy short-term "hot money," largely used to finance imports, and responsible for keeping the Canadian dollar at a high $1.05½ in U.S. currency). Both Prime Minister John Diefenbaker and Opposition Leader Lester Pearson, hopeful of more sales to Europe, urge Canada to take the lead in the promotion of a free-trade area among NATO nations...
James M. Henderson, assistant professor of Economics, has resigned, effective at the end of the term, to direct a four-year study which will attempt to find methods of revitalizing the lagging economy of the Upper-Mid-West...