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...cents, and Canada's foreign exchange holdings fell nearly 50% to a scary low of $1.1 billion. Six days after the election, in which the Conservatives remained in power, but as a minority government. Prime Minister John Diefenbaker suddenly put on the country's most stringent austerity since 1947. Canadian Historian Bruce Hutchison mourned that Canada was "brought to the rim of ruin . . . and became a mendicant...

Author: /time Magazine | Title: Canada: The Amazing Mendicant | 1/11/1963 | See Source »

...Africa's exporters were badly worried. A year later, after South Africa left the Commonwealth in high dudgeon, foreign investors began to pull capital out of the country at such a rate that foreign reserves sank to an anemic $15 million, and the government was forced to apply stringent currency control...

Author: /time Magazine | Title: South Africa: Business As Usual | 12/21/1962 | See Source »

...concession-agreement to accept "authorized" reserve strength at its present 700,000 men instead of slashing it to 642,000 -turned out to be no concession at all. The ranks at present total only 665,282 men (389,738 in the Guard and 275,544 in the reserves), and stringent new physical and proficiency requirements also announced by McNamara should trim the total even more. Half a dozen Governors voiced objections; Oregon's Republican Mark Hatfield called it a "blackjack effort." But there seemed little doubt that McNamara's plan would go through...

Author: /time Magazine | Title: Defense: Reserve Reform | 12/14/1962 | See Source »

...desirable rocket fuel; its production was shown only as a demonstration. But R.P.I, chemists are confident that their complex synthesis process can also make exotic high-energy fuels that cannot be manufactured in any other way-fuels with unfamiliar names that are now only whispered because of stringent Air Force secrecy. The big trick is to control accurately the speed of the ions. If they move too slowly, they do not react; if they move too fast, they break up the target molecules and form unwanted products...

Author: /time Magazine | Title: Chemistry: Ion Synthesis Makes Better Rocket Fuels | 12/7/1962 | See Source »

...thrifty Dutch are not about to spend their liquid gold recklessly. Shell and Esso have been shepherded into a shotgun marriage w?ith The Netherlands States Mines to market the gas. and De Pous. now-dubbed "The Sheik" by wags around The Hague, is laying down stringent marketing regulations. Present plans are to reserve about 25 billion cubic feet of it for "premium'' industrial use. including the fueling of projected new aluminum and ammonia plants, and to enable Dutch householders to convert to gas furnaces and stoves...

Author: /time Magazine | Title: The Netherlands: Dutch Treatment | 10/19/1962 | See Source »

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