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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jul 01, 1963
Page
9
A mid August report warns of ongoing erosion of U S gold hoard backing the dollar due to annual payments and exports, except 1957 when Suez Canal closure boosted shipments. Authorities have pushed exports growth and technical defenses to stem the drain, but outlook remains stark.
Sylvia Porter analyzes the 1963 balance of payments crisis. The first half shows vast red ink abroad despite a $4.5 billion trade surplus, with deficits driven by defense, foreign aid, overseas investment, tourism, and capital outflows. The report warns of drained gold reserves and loss of dollar stability.
A television report notes that the Ben Casey program was censured after a hospital abduction scene was omitted on Monday night at 9 00. The action involved the show’s editors and network executives citing concerns over portrayal and responsibility.
The New York legislature killed the mandatory death penalty for premeditated murder as of Monday. The new law replaces the penalty with life imprisonment unless the jury, in a separate session after verdict, decides otherwise.
New York ends mandatory death sentences for premeditated murder and removes felony murder distinctions. All participants in a crime can be charged with first degree murder. The legislature acted on a state commission recommendation, signaling a shift away from capital punishment as executions remain rare.
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