Two-Price Gold Decision Shapes Global Finance
The article explains how the United States and allied industrial nations maintain a $39 billion gold hoard for government use while allowing a free gold market among nonmember speculators. The currency exchange among these defense nations aims to protect the dollar and other major currencies from attacks by nonmembers as they work toward a broader agreement.
MENTIONED IN THIS ARTICLE
United States
Paper Gold SDRs proposed by IMF members
Close Call even before the gold crisis. Paper Gold would create a global monetary unit backed by industrial nations and grant IMF SDRs to settle international payments. Backed by massed credit, SDRs aim to equal gold value. Timetable sped to curb gold drain, needs legislative approval, at least a year away. Lesson: tailor government spending to income, choose higher taxes or cuts, stop deficits.
MENTIONED IN THIS ARTICLE
International Monetary Fund
IMF
New Yorkers New Job Economic Growth and Teen Unemployment
New York data show the labor force and total employment rose by 1.5 million year over year, offsetting entrants with job gains. February unemployment held at 3.3 million, while nonfarm payrolls grew 550,000 led by construction, reaching 3.5 million. Women and teens boosted overall employment to 74.1 million.
MENTIONED IN THIS ARTICLE
Insurance Company
Gold Market Trembles as Speculators Dump Gold
The gold pool ends the two price system as speculators rush to dump hoarded metal after the dollar is retained at 35 dollars per ounce. France and De Gaulle are sidelined while IMF statistics will reflect shifts in member holdings for the first time.
MENTIONED IN THIS ARTICLE
France
United States
International Monetary Fund
de Gaulle
Lone Wolf
American Nightmare II on segregation and school funding
Joseph Alsop argues that welfare programs cannot solve the American nightmare of racial segregation without addressing educational inequality. He cites Stodolsky and Lesser on how family background shapes achievement, urges massive investment in schooling for poor neighborhoods, and supports higher taxes to fund expanded teacher recruitment and new schools to close the racial education gap. He calls for prekindergarten, stable schooling, and extended More Effective Schools initiatives to prevent future inequality.
MENTIONED IN THIS ARTICLE
Boston
New York
Higher Horizons
America
Federal funding of arts and humanities under debate
A conservative critique questions federal support for arts and humanities endowments, led by Rep John Ashbrook. It notes proposed $11.2 million for one year after a $135 million two year plan, arguing Constitution limits on federal funding of poets, actors, and dancers while science grants far outweigh arts. It recalls $10,000 and $5,000 grants to multiple authors and artists and argues market discipline and constitutional limits should guide spending.
MENTIONED IN THIS ARTICLE
House of Representatives
Ohio
John Ashbrook
House
National Arts and Humanities
Ashbrook
National Institutes of Health
National Science Foundation
National Defense
Kenneth Patchen
John Berryman
Louise Bogan
Malcolm Cowley
John Crowe Ransom
Yvor Winters
Patchen
California
Scotland Hit by Heavy German Air Raids First Time in Two Years
The Messenger reports heavy German air raids inland in Scotland for the first time in two years, with incendiaries dropped. Samuel Carter Langley, 66, a Nelsonville barber and former baseball umpire, died of a heart attack at his home. The U S steamer Chattahoochee sunk off England by a German sub, but 78 crew saved. The steamer was formerly German, seized on war declaration. H L Wheaton and Crooks Hardware Co received a shipment of 100 lawnmowers. The ad proclaims quality lasting longer than price.
MENTIONED IN THIS ARTICLE
Scotland
Samuel Carter Langley
Nelsonville
Barber
U. S
Chattahoochee
England
H. L. Wheaton and Crooks Hardware Co
Air and Naval Reserves Call-Up Bonded Like Family
The call-up of Air and Naval Reserves is accepted as necessary, but a welcome fact stands out. Drawn as units from localities, the men feel they are going like one family, making the response easier for many.
Waiting You Can Never Hurry a Wife or Army
Mal Boyle riffs on the shared rule of both marriage and military life hurrying up to wait. He jokes that men spend decades waiting for wives to act and offers ten lighthearted remedies to pass the time, from sleeping more to ventriloquism and chinchilla farming.
Appreciation for Fire Department Response on March Baker Road
A letter from locals thanks Richland Avenue Fire Department The Plains New Marshfield and the State Forestry Service for rapid help during March 19 fires on Baker Road. Gratitude extends to neighbors and citizens who worked tirelessly until the blazes were out.
MENTIONED IN THIS ARTICLE
the Messenger
Richland Avenue
No Light Protestor Pleads For Crossing Light
A 10 year old girl from Carriage Hill writes to Athens officials asking for a traffic light at Richland Avenue after noting friends on Mulligan and Hooper cannot cross the highway safely. She signs as Martha Wilhelm, Carriage Hill.
MENTIONED IN THIS ARTICLE
the Messenger
Richland Avenue
Mulligan and
Hooper
Martha Wilhelm
Carriage Hill
Athens
Berkeley Doctorate Boom Surpasses Nation in Output
The University of California at Berkeley, after recent bad publicity from a few demonstrators, has emerged as the nation’s leading producer of academic doctorates, proving the rioters did not represent the school.
MENTIONED IN THIS ARTICLE
University of California At Berkeley
Athens Messenger Rate Card and Mailing Info
The Athens Messenger details daily and Sunday single copy prices and carrier delivery rates. It lists mail rates in Ohio and West Virginia and elsewhere in the U S, with weekly and multi week options and renewal terms. The notice is addressed to Senne Co at 43 W Union St Athens Ohio 45701.
MENTIONED IN THIS ARTICLE
Ohio
West Virginia
U.S. & Possessions
Athens Post Office
Messenger Senne Co
W. Union St
Ens
Also Mentioned on This Page
New Yorkers
New Job
Joseph Alsop
Susan M. Stodolsky
University of Chicago
Gerald Lesser
Harvard
Lesser
James Kilpatrick
National Endowment For the Arts
Hayden Carruth
Robert Duncan
Maxine Kumin
Robert Peterson
I. L. Salomon
William Gaddie
Ivan Gold
Caroline Gordon
Wallace Markfield
Tillie L. Olsen
Grace Paley
May Sarton
Michael Seide
Isaac Singer
Richard Yates
Isabel Bolton
Jeremy Larner
Hollywood
Harry H. Pearson, Jr
Buffalo River
Arkansas
Ozark Hill
Mona van Duyn
South
Southwest
New Orleans
New Mexico
The
Small Society
Brickman
Mal Boyle
Appreciation
Berkeley
the Athens Messenger
Associated Press