Word: wiping
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...floating exchange rates, under which currency values rise or fall according to demand, has changed all that. Now an oversupply of dollars abroad simply drives down the price. This kind of automatic devaluation in turn makes U.S. exports cheaper, increases sales of American products abroad and tends to wipe out any payments deficit. In the long run, officials now think, the health of the U.S. international financial position will best be measured by the dollar's strength abroad...
Howard S. Beltzer '79, one of the 134 new Government concentrators, agrees with Mansfield's estimate. Beltzer said yesterday that although he doesn't plan on going to law school, and isn't exactly thrilled by the prospect of Mansfield's department crusade to wipe out grade inflation, he decided to enter Government on the basis of his personal interest in politics...
...junta's economic and social policies are essentially analogous to the Chilean ones: freezing of salaries to provide cheap labor and to promote heavy private foreign investment. In order to "restore morality and efficiency to the government, wipe out subversion and restore the economy," Videla dissolved the Congress, provincial and municipal legislatures, suspended all political parties, all trade unions, dismissed the justices of the Supreme Court and banned all political activities. A "Legislative Assessment Council" was formed (just as in Chile) which will assist the new rulers in their government. The death penalty was reinstated for attacks on members...
These are among the major provisions of the proposed Financial Institutions Act of 1976, a bill that would force the most sweeping changes in the nation's financial system since the Depression. The bill would wipe away many of the present distinctions between commercial banks and thrift institutions (though not all; the thrifts would still be forbidden to make business loans). It would also concentrate the regulation of banks in a single new federal agency...
Since launching Operation Hurricane in December 1972 to wipe out the guerrillas, the Rhodesian government says it has killed 786 rebels while losing 89 of its own troops. But the Zimbabwe forces, beefed up after three years of low-level and largely ineffective insurgency in northeastern Rhodesia, now have an estimated 10,000 fighters in Mozambique and Tanzania...