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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Jun 15, 1971
Page
4
President Nixon struggles with rising wages and prices as inflation erodes the nascent economic recovery. After a year of stock rebound and looser money, inflation undercuts gains, prompting calls for effective wage and price controls to sustain growth.
The FTC resumes hearings in Washington on proposed labels warning that phosphates in detergents pollute water. Environment groups push bans while industry fights. Congress may ban phosphates after June 30, 1972, with several states already restricting use. Tennessee’s stance affects local industry and jobs in Maury County.
The article notes a $214.7 million April trade deficit as evidence of waning U.S. competitiveness. It cites calls for a tougher push to reassert market access, critiques non tariff barriers, and discusses Kennedy Round liberalization, potential trade wars, and forecasts of $16 billion in returns from U.S. foreign investment by 1980 amid a first quarter balance of payments deficit of $5.5 billion.
Washington column outlines charges against Federal Power Chairman John Nassikas for withholding evidence and misrepresenting data to justify a 4 billion dollar rate increase for natural gas producers. It cites the Nassikas Papers and conflicts between industry figures and FPC economists on Louisiana reserves projections.
In February 1970, Wald warned Nassikas about inconsistent industry data on gas reserves totaling 1.3 trillion cubic feet. He said corroboration was impossible and the FPC audits offered little reliability. A chain of memos to Nassikas and Gooch disclosed suspect estimates and large, unexplained differences.
Senate questions Nassikas over FPC data on natural gas industry figures. Memo038 reveals staff warned of 40 to 42 percent errors, yet Nassikas and Gooch praised industry figures at hearings. Nelson proposes anti pollution motor standards giving EPA authority to set rules for old and new motors.
The column blends charity appeals and community updates. A High Point businessman declines a class action invite, Paul Frye seeks $2500 for the Heart Fund, and Katherine D. White leaves a $420,000 Greensboro estate to the Presbyterian Home. Articles cover local tourism, holiday schedules, a notable death, and a Nixon wedding gift outreach.
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