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Newspaper
Lubbock Avalanche Journal
Location
Lubbock, Texas, United States of America
Date
Oct 01, 1972
Page
2
Washington AP reports that at the IMF meeting finance ministers and central bankers from major nations remain divided on core questions about reforming the world monetary system. The United States proposed a specific plan to revamp the system, clarifying some issues amid ongoing debate.
Analysis from international meetings shows broad support for more flexible exchange rates and frequent small value changes. Disputes center on how major economies adjust balance of payments and whether surpluses should face sanctions. France resists automatic criteria for currency changes while the U S pushes broader dollar policy and SDRs integration. A 20-member view committee will oversee talks with deputies meeting again in Washington on November 22.
Presidential candidate Benjamin Spock proposes a guaranteed annual income of 6500 for a family of four. He attacks welfare as poverty living and cites Bureau of Labor Statistics data from 1971 to justify the figure. Spock argues most welfare recipients lack viable work alternatives and notes current payments fall short of basic needs.
Demonstrators tried to shut down publisher IX. W. Shhuetz-Verlag at the Frankfurt book fair over a book titled Peterson, a Peculiar Bunch, said to glorify an SS unit in the Warsaw ghetto. Police repelled the protesters after demands to close the stall failed.
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