Word: year-end
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...last week of the year, in the interval between the Christmas swirl and the New Year's resolves, comes the week of finishing up and summing up: inventory time. We are addicted to the habit too. One TIME institution at this season is the year-end business review. We try to make it more than a review, a fresh assembling of facts and seeking of opinions. Our aim is to provide in one article both a brief summary of the recent past with an indication of what is to come. For this week's survey, our reporters...
Pushing the Limits. Encouraging as all this appears, these facts remain: there is a balance of payments gap, it has widened recently, and it is destined to widen further in the current quarter. European banks habitually build up their dollar accounts as "window dressing" for year-end bookkeeping, and this expands the U.S. deficit. Moreover, the U.S. has just about reached the limit in "tying" foreign aid funds to U.S. purchases, and it can hardly jack up interest rates much more during a period of economic sluggishness...
...France than to come in as a cockboat in the wake of the British man-of-war." For All the World to Heed. Adams wanted to communicate the U.S. declaration to France and Russia through the normal channels of diplomacy, but Monroe decided to incorporate it into his year-end message to Congress on the state of the Union. In doing so, he made his doctrine an openly announced national policy-for all the world to heed...
...year-end study of the roster of U.S. daily newspapers provided the American Newspaper Publishers Association with an unexpected surprise: 18 new dailies were born in 1961, and only 13 disappeared. Exulting that a list which had been dwindling for years was suddenly showing signs of growth, A.N.P.A. General Manager Stanford Smith predicted that "the future trend will be toward more dailies to serve the public." The A.N.P.A. did not mention two far less encouraging trends...
...sharply curbed but not entirely halted the exodus from East Germany; about 1,500 a month still manage to flee. Ulbricht publicly admitted last week that the purpose of the Wall had been to halt the flight and its debilitating effects on the East German economy. In a revealing year-end article in Moscow's Pravda, he tried to put all the blame on Western intrigue. "There were considerable difficulties in the education of young intelligentsia from the ranks of the working class," he wrote. "West German firms deliberately recruited such specialists...Some citizens thought crossing the border between...