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Floating of W German Mark May Cost US Army $30 Million
The West German mark floated on May 9 to curb dollar inflows, raising costs for U.S. Army in Europe. Rent and living expenses for servicemen on the economy rose, with shortages of affordable housing and shifting prices. Heidelberg reports an $31.5 million fiscal impact from the float, while Bonn declines to increase aid. Military clubs and PX prices adjust as soldiers cope with the new currency value.
MENTIONED IN THIS ARTICLE
Indiana Evening Gazette
W. German Mark May
Frankfurt
Germany
U.S
Europe
Godec
West Germany
John Pettengill
Rochester
Minn
Post Exchange
Nixon
William Jeter
Hays
Kan
Imark
Godecs
Congress
3Rd Armored Division
U.S. Army
Heidelberg
Department of the Army
Karl Schiller
Bonn
Washington
Maj
John Fogarty
South Berwick
Maine
Frankfurt Officers’ Club
Ian Plan
Nex