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This newspaper page contains 6 articles. Subscribers can read the full text of each article.
Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
May 21, 1962
Page
4
Sylvia Porter argues the U S dollar remains the world’s leading currency, 28 years since the 1934 devaluation, while contrasting other currencies. She notes the Canadian dollar’s devaluation and peg, and discusses how dollar hegemony supports Western prosperity and allied strength.
The analysis, attributed to Jimmy Hatlo, argues the United States must claim credit for its financial influence in Europe. It notes foreign claims against the U.S. have reached 23 billion dollars while gold reserves hover near 16.5 billion. It recalls the October 1960 dollar scare and Kennedy's decisive denial as crucial safeguards.
The text discusses short term claims, a sinking gold reserve, and a serious balance of payments deficit with no near term solution. It argues a dollar devaluation could lower export prices and boost competitiveness, warning creditors and speculators may react. It also notes over 32 million units owned or being bought vs 20 million renters, with New York, Alaska, and Hawaii having more renters. New York leads in rented units. California has the most homeowners.
Washington based summary from UPI notes the 1960 census shows 58.3 million dwelling units in the United States with about 53 million occupied. The report indicates most Americans favor mortgage payments over rent receipts as a housing preference trend.
Professor G Edgar Folk appears on EXPEDITION IOWA to discuss heart research and related films. The program airs Monday at 6 p.m. on KCRG TV 9.
Senator Kefauver indicated his senate monopoly subcommittee may investigate the railroad merger movement to ensure the public interest is considered. He also said the panel will later probe possible antitrust violations in the steel industry.
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