Word: convertions
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...week, New York's immediate financial fate was still in doubt. State and city officials were bitterly wrangling over the powers to be given to the proposed Municipal Assistance Corporation (dubbed "Big Mac"), which would attempt to convert the city's short-term debt into long-term bonds. The banking community insisted that Big Mac should exercise tight control over the city's short-term borrowing and receive all city sales tax revenue so as to make sure that the bonds it issued would be repaid. City officials balked at such a surrender of their fiscal authority...
...resolve when the status quo was restored but proceeded to construct on this foundation further peaceful links with the other side (including the nuclear test-ban treaty and hot line). Let us hope that President Ford, who has been admirably restrained in his rhetoric about the Mayaguez, can also convert this experience with confrontation into a new effort for cooperation...
...Firm Evidence. On the more mundane penny and pound level, the pro and con arguments seem to consist, as Tory Shadow Foreign Secretary Reginald Maudling put it, "of diametrically opposed conclusions drawn from the same inadequate facts." Pro-Marketeers, rather indifferently led by Prime Minister Harold Wilson, himself a convert to that position, argue that continued membership will lead to more jobs and lower food prices for Britons. Anti-Marketeers on both far right and far left say that it will lead to fewer jobs and higher food prices. And an exhaustive study by the National Institute for Economic...
...National Weather Service has developed plans to convert weather forecasting to metric units (wind velocities in k.p.h., temperatures in Celsius, etc.) when the SI bill becomes law. Boston Weathercaster Don Kent already gives temperatures in both systems. One day last week, for example, he reported that the "temperature in Boston is 21° Celsius or 70° Fahrenheit...
...creditors can ill afford to force him under because they would lose too much in the process. For example, if oil-rich Arabs started withdrawing their huge deposits from London, the pound would skid much further, thus diminishing the value of the Arabs' sterling holdings before they could convert them to some other currency. But the dependence on foreign money is not only humiliating for the nation that was once the world's greatest financial power, it is risky in the extreme...