Word: allowable
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Dates: during 1970-1970
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North Western, the Reading and the Erie-Lackawanna. The Nixon Administration began drafting legislation that would allow the Department of Transportation to underwrite as much as $750 million in loans for beleaguered railroads. The plan, however, faces considerable opposition in Congress...
...reserves. In West Germany, the Bundesbank last week bought $500 million that flooded in-mostly from speculators-during a single day. This process is inflationary, because the foreign currency paid out for the dollars adds to the money supply in the country that does the buying. - Foreign governments can allow the price of their own currencies to rise, usually by formal revaluation. That reduces the inflow of unwanted dollars, but a revaluing country must resign itself to seeing its export prices go up. Even so. West Germany revalued the mark last year, and Canada is currently letting the price...
Directors of the International Monetary Fund were shocked. Canada, they grumbled, was not playing by I.M.F. rules. Those rules require each country to maintain a fixed value for its currency, and allow change only when a nation's finances get into "fundamental disequilibrium," a stage that Canada had not quite reached. Still, what was to be gained by Canada's waiting for an acute crisis to develop-as the British, French and Germans have done in the past-before making long-overdue rate changes? Although the I.M.F. rules are designed to promote stability in world finance, they have...
...would carry the U.S. a step closer to the adoption of a national policy for more rational use of land to control the country's chaotic patterns of growth. The measure not only would empower the Attorney General to file enforcement suits against local governments but also would allow potential recipients of housing aid to sue in either federal or state courts to overturn local rules. Some opponents of the idea contend that Washington lacks authority to override local land controls. Though chances for adoption in this election year seem slim, the proposal will at least focus attention...
...Homogeneity breeds comfortable stagnation. But diversity also threatens loneliness and isolation. Each group within the college requires a certain critical mass to allow it to fit with reasonable comfort.... For this reason a smaller male enrollment might force us to eliminate a number of such distinctive groups entirely when their numbers fell below a tolerance threshold... Reduced admission of men would force us into less diversity at a time when we are being asked for more. (This argument has assumed perhaps debatedly, that men and women students are not fully interchangeable within "delegations." This assumption may not be correct...