The Trouble With Gold in American Monetary Policy
A historical overview explains how U S gold stock dwindled as fears rose about the dollar's value in Europe. It notes 1934 actions to fix gold at 35 dollars an ounce and a peak U S gold holdings exceeding 26 billion dollars, about 57 percent of global monetary reserves, and mentions the 1944 IMF move to peg currencies to the U S dollar.
MENTIONED IN THIS ARTICLE
Europe
United States
U.S
International Monetary Fund
Washington
London
Postwar Dollar Flows and 1967 Gold Speculation
The text notes that U.S. dollars financed postwar rebuilding and returned via overseas purchases, but 17 of the last 18 years ran a trade deficit. In the 1950s creditors traded dollars for gold, and by late 1967 speculators boosted demand hoping to devalue the dollar to bolster gold value, with gold reserves around $11.4 billion.
MENTIONED IN THIS ARTICLE
U.S
Paper gold and the balance of payments
A chart shows world trade outpacing gold supply and notes the creation of paper gold to supplement gold. The core issue remains America's balance of payments deficit and the dollar’s status as the key global currency and its impact on the free world.
MENTIONED IN THIS ARTICLE
America
May 22 Almanac: historical highlights and astral notes
On this day in history 1868 seven Reno gang members robbed a Marshfield train of 98000 dollars. In 1924 the Bobby Banks case led to Leopold and Loeb arrest. In 1943 Soviet Russia dissolved a southeastern alliance. A thought by Ralph Waldo Emerson praises friendship. One traffic fatality marked the day, the longest since 1955.
MENTIONED IN THIS ARTICLE
United Press International
Reno
Marshfield
Ind
Bobby Banks
Chicago
Nathan Leopold
Richard
Soviet Russia
Ralph Waldo
President Johnsons secret service details affect convention plans
Report notes Johnson will have an important role at the Chicago convention and appears to favor Hubert H. Humphrey. It describes his travel in armored cars with minimal police escort at times, causing traffic jams and prompting concerns over public display and security protocols.
MENTIONED IN THIS ARTICLE
Chicago
Johnson
Hubert H. Humphrey
Washington
Secret Service
White House
Memorial Day Services Planned at Cemetery with Rides
Memorial Day observance for deceased veterans of all wars set for 11 a.m. at the cemetery with addresses by John Forbis and Rev. Luther Bradley followed by Taps. Veterans should meet at the Veteran Building at 10:30 a.m. and depart by 10:50 in convoy. rides available to the services.
MENTIONED IN THIS ARTICLE
John Forbis
Luther Bradley
Texas governors race tempers clash with charges exchange
Yarborough pledges no repeal of right to work, opposes new taxes and would probe the Texas Liquor Control Board as Smith camps along the Gulf Coast with vows to use all means to restore order. Both trade barbs on temperament and leadership.
MENTIONED IN THIS ARTICLE
Yarborough
Texas Liquor Control Board
Gulf Coast
Smith
Texas
Fort Worth
Washington
Galveston
Fresno UC engineer says central sorting slows tomato canning
University of California agr engineer Michael O'Brien says 20 percent of tomatoes arrive damaged at central sorting sites and current systems can double that. He notes three bin filling methods were tested with water filled bins causing 3 percent damage and dry bins 6 percent damage, underscoring need for changes.
MENTIONED IN THIS ARTICLE
Canny Systems
Davis
Calif
UPI
University of California Agricultural
Michael O’brien
O’brien
The Lighter Side vs Washi Apt
Humorous reminiscence on parenting and vocabulary use. The author cites Dr. Haim Ginott from Redbook praising teaching by anger with advanced words. An anecdote recalls a fifth grade insult and a high school term, then a baseball mishap leading to refined retorts.
MENTIONED IN THIS ARTICLE
Haim Ginott
Redbook Magazine
Ginott
Columbia Campus Unrest Ends With Police Clash
Police in blue helmets and plainclothes used billy clubs to push about 1 000 students back from Livingston Hall and into the dorms. Three students were hurt as clashes spread across campus while Columbia and Barnard students taunted officers and destruction occurred outside buildings. President Kirk said operations would continue as dawn brought make shift medical aid from nearby hospitals.
MENTIONED IN THIS ARTICLE
Livingston Hall
John V. Lindsay
Columbia
Universi
Broadway
Barnard College
Kirk
iOnce
Bovedtt
Columbia Medical
Soil Stewardship Week Observed Across State
May 1926 observances unfold this week with 184 Soil Conservation Districts in cooperation with local churches. The theme is A Time for Initiative and stresses man’s duty to conserve natural resources.
Screwworm threat rises in Texas urged vigilance
Dr M E Meadows Jr of the Screwworm Eradication Program warns the current period could spark an explosion of new cases across south and southwest Texas. He urges livestock producers to tighten watch, treat all animal wounds, and send worm samples to the Mission Lab for identification.
MENTIONED IN THIS ARTICLE
M E Meadows, Jr
Texas
Openhagen Intermission Dance Stuns Glasgow Match
An added attraction at Copenhagen’s soccer match intermission showcased a girl dancer performing before Danish singer Peter Belli and his ensemble. The event drew attention as the performance lit up the arena during the Glasgow versus Openhagen game.
MENTIONED IN THIS ARTICLE
Copenhagen
UPDA
Glasgow
Openhagen
Peter Belli
Also Mentioned on This Page
Silion
ISK
the Almanac
Weil
D.C
Our Lady Queen of Peace Church
Arlington
Silver Springs
Page One
WEFK
Hotel Childress Ballroom
Royal
Tari
Childress Office Supply
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