Word: vital
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Dates: during 1950-1959
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Austerity in Government. "The national treasury is empty," warned Frondizi, adding that the trade deficit is so huge that even vital imported supplies (e.g., petroleum) might be cut off by year's end. He promised administrative austerity, but said the broader solution for the nation was "encouraging productive private enterprise." He pledged that there would be no new expropriation of foreign investments, though industries already nationalized would be kept. He announced that he was taking over as president of the floundering state oil monopoly and would accept aid from private capital, "without abolishing state control...
...perhaps the central "but" of Recession 1958-"there is too much of a tendency in some business quarters to say: let the Government bail out the economy. Government can help, but the primary responsibility for recovery must be assumed by American business and labor and the other vital forces that make up the private sector of the American economy...
Principles & Rules. In his speech for Law Day 1958, Harvard's Dean Pound makes the careful distinction between Law and laws. Says he: "The vital, the enduring part of the law is in principles -starting points for reasoning-not in rules. Principles remain relatively constant or develop along constant lines. Rules have relatively short lives. They do not develop; they are repealed and are superseded by other rules...
...under the law and equality before it. "Peace is the work of justice," says one advocate of a world rule of law. And the peaceful settlement of disputes could come through a system of law, founded on what is common to the law of all communities. Says Rhyne: "The vital need for an adequate international system of law remains the greatest gap in the legal structure of civilization...
Fact was, said Vinogradov, that in order to prevent Russian exclusion from North Africa at the hands of the U.S., the Kremlin had a vital interest in seeing France retain its position in the area. When one of the French guests suggested that Russia could contribute mightily to this goal by publicly endorsing a "strictly French solution" and "telling the Algerians to quit fighting," Vinogradov affected to find the suggestion both novel and impressive. "Hmm," he said. "I'll communicate the idea to my superiors right away. We are serious about this Algerian business. Don't be surprised...