Dollar crisis as Nixon surge tax shocks world markets
Foreign exchanges closed or limited after President Nixon suspended gold settlement and imposed a 10 percent import surcharge. Banks,Tourist services and manufacturers faced higher costs and pressure on the yen and other currencies amid talk of a Bretton Woods volume shift and urgent international talks.
MENTIONED IN THIS ARTICLE
London
Nixon
U.S
Europe
Orient
Japan
Britain
West Germany
Switzerland
Sweden
Norway
Italy
South Africa
France
Belgum
Luxembourg
Economics and Finance Ministry
Poul ‘Nyboe Anderson
Denmark
GATT
Key Tax Man In Congress Praises Plan
Rep. Wilbur Mills, head of Ways and Means, praises Nixon's economic plan calling it excellent. He expects approval of investment tax credits while acknowledging wage and price controls. Other leaders from both parties react favorably, noting bold, necessary steps.
MENTIONED IN THIS ARTICLE
Congress
Washington
Wilbur Mills
Nixon
Mills
House
Ways and Means
Arkansas
Kensett
Ark
Senate
Mike Mansfield
Montana
George McGovern
South Dakota
Jacob Javits
New York
Joint Economic Committee
Connally: Dollar float not devaluation under Nixon plan
Secretary Connally said Nixon’s move to float the dollar is not a devaluation. He predicted uneven currency shifts, planned talks with Britain, Holland, and France, and argued the policy aims for fair global trade without tariff barriers. He noted U.S. wage price freeze remains and acknowledged a large balance of payments deficit.
MENTIONED IN THIS ARTICLE
Washington (Ap
Secretary of the Treasury
John B. Connally
Nixon
Dal
Connally
Britih
London
Holland
France
Connally defends wage price freeze details in briefing
Secretary Connally said sanctions back the wage price freeze and American businessmen would not violate it. He noted a $5,000 fund for court action, cited questions on food prices and auto price hikes, and defended no-fire attrition for federal payroll cuts while resisting specifics on a Bell Telephone contract and 1972 car model increases. He emphasized voluntary compliance as key to stability beyond the 98 day period.
MENTIONED IN THIS ARTICLE
Connally
Bell Telephone Co
American Motors
Congress
Nixon
Tna
River Stage Changes Reported at Camden Monroe
River stage readings show Camden at 7.6 feet with a 1.1 rise and Monroe at 18.5 feet with an 8 foot drop, as weather patterns shift and flood potential fluctuates. Authorities monitor gauges along the river for evolving conditions and safety advisories.
MENTIONED IN THIS ARTICLE
Camden
Monroe
Mixed U.S. reaction to Nixon wage price controls
Opinion split as President Nixon imposes wage and price limits. Boerminger, a Philadelphia owner, faces about 700 more for a foreign car. unemployed Jarvis in Minnesota says it won’t affect him. Respondents nationwide express support, concern, or indifference about the move and its economic impact.
MENTIONED IN THIS ARTICLE
United Press International
Nixon
Paul Boerminger
Jim K. Jarvis
Boerminger
Philadelphia
Jarvis
Bloomington
Minn
Verne Carlson
Northglenn
Colo
Frontier Airlines
Stock Market Rally Sparks Record NYSE Trading Pace
The Dow rose 334.4 points to 889.44 after Nixon's new economic policies sparked a market surge. Volume hit a two hour NYSE record around noon with about 146 million shares traded, as nearly 1,400 issues advanced and blue chips led gains.
MENTIONED IN THIS ARTICLE
New York
Nixon
New York Stock Exchange
General Motors
Bradbury K. Thurlow
Hoppin, Watson & Co
Stock Exchange
Weather Outlook Northeast Louisiana With Warm Sixty Eight
Partly cloudy skies for Northeast Louisiana today and Tuesday with a slight chance of mainly afternoon thunder showers. Highs 88 to 94 degrees, lows 68 to 74. North to northeast winds 6 to 16 mph. Humid drying conditions, dew points near 70, sunshine about 90 percent. FAA at Monroe Municipal reports high 88 yesterday and low 68 this morning with .15 inches of precipitation Sunday.
MENTIONED IN THIS ARTICLE
Louisiana
Federal Aviation Agency
Monroe Municipal
Monroe Man Among 29 UT Austin MBA Candidates
Earl Wayne Rawls of Monroe is listed among 29 out of state candidates for the University of Texas at Austin MBA program. The UT summer session ends August 21 with no public commencement planned. Donald C. Johnson Jr. of West Monroe has been promoted to specialist fifth class and serves in Okinawa after two years in the Army. he graduated from West Monroe High School in 1967.
MENTIONED IN THIS ARTICLE
Earl Wayne Rawls
S. 9Th St
Monroe
University of Texas
Austin
Donald C. Johnson Jr
D. C. Johnson
Rt. 4
West Monroe
Johnson
Okinawa
U. S. Army
West Monroe High School
Gunmen Attack Soldier and Police Amid Northern Ireland Tensions
Gunmen wounding an army patrol near Cullaville and nine NI MPs calling for civil disobedience amid internment protests. A Londonderry incident saw three men kidnap and beat Constable Daniel Barr, with Barr later taken to Letterkenny. Pvt. Thomas Moore, a 17 year old, claimed IRA threats and a clandestine briefing.
MENTIONED IN THIS ARTICLE
Belfast
Northern Ireland
UPN
Irish Republic
Londonderry
Cullaville
County Armagh
Daniel Barr
Withnesses
Irish Republican Army
IRA
Barr
Letterkenny
Thomas Moore
Royal Irish Rangers
Junk is what you keep for 10 years and then throw away
A quip notes the habit of hoarding junk for a decade before discarding. The saying frames long storage as prelude to eventual disposal, implying no lasting value in accumulated items.
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Frankfurt
Volkwagen
United States
Tokyo
Japan External Trade Association
Noboru Takeshita
Bank of Japan
Japan External Trade Organization
Finance Ministry
Ministry of International Trade and Industry
Shigo Kurobayash
Fuji Bank
Edward Heath
Georges Pompidou
Paris
Paul Volcker
The
Treasury
Bretton Woods
American Express
Dent Nixon
Sen
Wallace Bennett
Utah
Senate Finance Committee
China
News-Star
Untary
Lowman
Radio-Tv SB. Comics SA Sports Ls
van Dellen
Carl A. Fontana
Avonmore
Reginald Bessmer
Jackson
Miss
Kansas City
Richard Lorenzo
T. Williams Booth
Seattle
C. C. Aveack
Franklin
Samuel Bell Sr
New Orleans
Warold Lee Bethune II
David L. Chandler
Huey P. Coleman
Alexandria
Jimmie H. Davis
Baton Rouge
Edwin Edwards
Crowley
J. Bennett Johnston
Shreveport
Gillis W. Long
Speedy O Long
Trout
Warren J. Molly
New Iberia
James W. Moore
Frank T. Salter Jr
Lake Charles
John G. Schwegmann
Metaine
Jimmie Strain
A. Roswell Thompson
Wilford L
Jamar W. Adcock
Dick Bruce
Parey Branton
Shangaloo
James F.F. Fitzmorris Jr
Norman E. Heine
Baker
Ellis F. Hull
F. Edward Kennon
Minden
P. J. Mills
Frederick D. Perkins
Rayville
Ramson Kerrell Vidrine
Ville Platte
Morley Hudson
Ernest R. Eldred
Jack P. F. Gremillion
William J. Guste Jr
George T. Oubre
Norco
J. Minos Simon
Lafayette
Alcide J. Weyshaw
Marion Overton White
Opelousas
Tom Stage
Mary Evelyn Parker
Shady R. Wall
Roy R. Theriot
Abbeville
Clyde B. Stephens
Richard T. Abadie
Frank Ahern
William J. Dodd
Louis J. Michot
William Earl Noonan
Thomas J. Smith
Robert Frye
Hammond
Romaine Russell
State Land Office
Ellen B. Moore
Jim Rentz
Republicains
Earl R. Banks
Dave L. Pearce
Sherman A. Bernard
Westwego
John W. Davidson
Twin Cities
News-Star World
Couch
Pano
Cialk
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