Word: ets
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...trade bill would empower the President to slash tariffs drastically-all the way down to zero on many categories of manufactured goods-in return for tariff concessions by other countries (TIME, Feb. 2 et seq.). Because it cuts far deeper than the old reciprocal trade program that it is designed to replace, the bill was expected to stir up fierce opposition. But last week, as the House Ways and Means Committee completed its second week of hearings on the measure, the opposition seemed more plaintive than ferocious...
...knows, in the company of God in heaven. Only one is an American, Mother Frances Cabrini (1850-1917). A great many more souls are waiting for similar approval.* Last week the Vatican's Polyglot Press released the latest edition of Index ac Status Causarum Beatificationis Servorum Dei et Canonizationis Beatorum, a 391-page Who's Who of potential saints that lists the names of 1,132 dead Catholics who are candidates for the congregation's study...
Since the SEC began probing Wall Street ten months ago, the hot glare of unfavorable publicity has focused almost entirely on the American Stock Exchange (TIME, May 26 et seq.). Last week the spotlight abruptly swung to the Amex's stern older brother, the New York Stock Exchange. After three weeks of deliberation, a federal grand jury indicted J. (for James) Truman Bidwell, 58, chairman of the board of governors of the Exchange, on the charge that he had "willfully and knowingly" evaded payment of $55,808.83 in income taxes for 1956-57. Within minutes of the announcement, Bidwell...
...Tutting the Pope. The magazine's brief life has been punctuated by thunderclaps of dissent. Recently, Buckley, who is a Roman Catholic, challenged the papal encyclical Mater et Magistra. This letter from Pope John XXIII to his bishops advocated a measure of "socialization," i.e., government planning and welfare programs, and urged bishops to accommodate to the trend. The Review promptly took the Vatican to task, describing the encyclical as "a venture in triviality...
...have worked long and hard to create a composing machine as versatile as the one that swamped the masses with mollifying melodies in George Orwell's fantasy, 1984. Last week French teenagers were dancing to the catchy theme for the new Paris hit film Chronique d'un Eté, which had been dreamed up in the electronic brain of an Orwellian monster otherwise known as Binary Digital Computer Gamma Three...