Word: flooring
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Dates: during 1960-1969
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...Basement closes. Stockboys begin job of cleaning up mounds of hangers and dresses on floor. Gormley checks day's receipts (close to $300,000): "All in all, a fairly routine...
...First scientific proof of continental drift by sea-floor spreading...
...plan surfaced last summer, Attorney General John Mitchell passed the word that the Administration had no objection. HEW Secretary Robert Finch, though he had his doubts, remained silent. As a result, the House approved the amendment by a wide margin. By last week, as the measure reached the Senate floor, the Administration had changed its tune. With Finch declaring the Administration "unalterably opposed" and Mitchell quietly going along, Republican Senate Minority Leader Hugh Scott moved to amend the amendment. As modified by Scott, the bill still prohibits HEW from taking any of the actions proscribed by Whitten -"except as required...
...gold to the International Monetary Fund whenever the country's balance of payments was in deficit and the free price sank to $35 or less. The I.M.F. would pay the official price of $35 and could then resell the metal to central banks. The deal would provide a floor under the gold price, and something of a ceiling as well. Since the I.M.F. would buy only a little gold, South Africa would have to sell most of its metal on the free market, and that would tend to hold down the price...
Stiff Price. The deal brought an angry response from Congressman Henry Reuss, chairman of the Joint Congressional Subcommittee on International Exchange and Payments. He said that the U.S. "would pay a stiff price for any compromise with South Africa." A floor under the private price of gold, he argued, would encourage speculation by taking the risk out of it, and would possibly tempt foreign bankers to demand conversion of their dollar reserves into gold...