Bold Policy Raises Workability Doubts
President Nixon's triple twist in economic policy gains applause for boldness yet sparks doubt about workability. The plan aims to defend the dollar, curb inflation, and boost exports while potentially creating jobs, with a temporary dollar devaluation and a 10 percent import surcharge. A 90 day voluntary wage and price framework, overseen by a cost of living council, may replace mandatory ceilings if workable measures emerge.
MENTIONED IN THIS ARTICLE
Sterling F
Nixon
Unitedtates
Volkswagen
Toyota Autos
Grundig
Sony Electronic Equipment
Wallace Order Over Desegregation Stirs Birmingham
In Birmingham a federal judge ruled Governor Wallace had no power to override court desegregation orders. The issue centers on Pamela Davis a 15 year old transferred from a black Jefferson County School to a whiter nearby school under a state action. The judge said the board must follow court directives and that the governor’s order was not binding.
MENTIONED IN THIS ARTICLE
Birmingham
Ala
Jace
Charg
King Wallace
George C. Wallace
Cremon
Wallace
Jefferson County School Board
Pamela Davis
Westfield High School
Nixon
U.S. District Court
Jefferson School
J. Sam C. Pointer Jr
Revis Hall
al Davis
Westheld
Pointer
West School Board
Wallace Tolfield
Huey
Jefferson County
C.R. Bot U W. Clemon
Birmington
Walls
Nixon imposes 90-day wage price rent freeze nationwide
President Nixon declared America must compete and announced a largely voluntary 90 day wage price rent freeze. He urged world exchange rate reshuffling that could devalue the dollar while aiming to curb unemployment and inflation. The address, delivered on television and radio, outlined immediate measures to protect the dollar and boost American competitiveness.
MENTIONED IN THIS ARTICLE
Washington
Nixon
America
Nation
Nixon economic package drives record stock rally
New York AP Nixon economic policies trigger a broad market surge with the Dow up 33.44 to 889.46 at 1 pm and trading at record levels. Volume hits 146 million by noon as investors react to wage price controls and proposed tax, spending, and welfare reforms while Congress considers the measures.
MENTIONED IN THIS ARTICLE
New York
Nixon
Milllion
General Motors
Bradbury K. Thurlow
Jaf Hoppin, Watson & Co
iStock Exchange
Richard Gusick
Treves Co
Beth Churns Up Turmoil In Nova Scotia
Floodwaters from Hurricane Beth inundated eastern Nova Scotia causing extensive damage. Halifax area rainfall reached 9 inches in 24 hours and Halifax Airport logged 10.49 inches in 30 hours. Dartmouth and Halifax roads and routes were blocked. hundreds of homes flooded and demands for federal and provincial aid rose as Antigonish residents evacuated 600 people from a flooded trailer park.
MENTIONED IN THIS ARTICLE
Halifax
Beth
Nova Scotia
Roland Thornfull
Dartmouth
Truro
Thornhill
Halifax Works Department
Fairview
Antigonish
Here
St. Francis Xavier University
The Quipster Bench Paint Joke
The Quipster notes a practical joke where a man is convinced by a claim of 300 billion stars yet must touch a freshly painted bench to verify it. The remark plays on gullibility and the urge to test simple claims with hands on proof.
Sharp Puts Heat On Wilson In Houston Chronicle Account
AP report summarizes testimony by Sharp alleging actions by Wilson in the Sharpstown financial scandal. It cites Sharp asserting how funds were moved to recapitalize a bank and how a 10 story building project tied to Sharpstown properties affected Texas politics and bank leadership. The Chronicle continues coverage on Page 2A.
MENTIONED IN THIS ARTICLE
Houston
Sharp
Sapatic
Securities & Ex-Bankers Life Insurance Co
U. S
Henry B. Gonzalez
Texas Atty
Will Wilson
San Antonio
Sharps
Chronicle
SEC
Antown Bank
State Sharp Properties
Dallas
Wilson
Sharpstown Realty Co
Sharpstown State Bank Sec
Connally defends dollar move amid devaluation questions
Secretary of the Treasury John Connally said Nixon’s dollar suspension is not a devaluation. He predicted the dollar may rise versus some currencies and fall versus others, and stressed the aim of fair trade and reducing trade barriers. He noted talks with Britain, Holland, and France and warned the action is premature to label a devaluation. He also said a wage price freeze did not include profits, arguing profits have not been large.
MENTIONED IN THIS ARTICLE
Washington
Connally
London
Holland
France
Rainy Days Continue Across West Texas Area
Heavy weekend rainfall drenched Midland and surrounding towns with totals near two inches in several spots. National Weather Service projects a 30 percent chance of rain today and 20 percent tonight, with showers possible midweek. Temperatures cooled only slightly, with a Sunday high of 70 and a record low‑max of 83 set in 1942. Rainfall caused localized flooding in Odessa, Pecos, and Irpan areas, water entering businesses and residential blocks as Gulf air circulations settled over the Permian Basin.
MENTIONED IN THIS ARTICLE
Thelunches
Midland
Drews
Morahans
Weather Service
West
Texas
Pecos
Ali
West Texas
Irpan
Odessa
Sheffield
Crocbrunt
Kelt
Grandview
Candy’ Mertzon
Suinda PQ
Sieties
Watson's Department
Kaan
Uni
Versity
North Golder
East County
Iroad
Brentwood
H&h
Santa Rosa
Warplanes Triple Attacks to Halt North Vietnamese DMZ Strikes
U S planes pressed a intensified air campaign over North Vietnam today and yesterday near the DMZ. The strikes aimed to blunt renewed enemy assaults and protect allied positions as U S and South Vietnamese forces respond to mounting kernel clashes along the frontier.
MENTIONED IN THIS ARTICLE
Indochina
U.S
Dmz
Also Mentioned on This Page
Secretary of the Treasury
John B. Connally
AP News
Japan
Din
Congress
Vietnam
Treasury
John Byconnally
Losely
Orief
Spiro T Agnew
Houston Paper
Ilo, Traan
Big Spring
Colorado City
Lamesa
Alpine
Fort Stockton
T |Pecos
Gulf Air Muang Im
puuLa& Ween
National Weather Service
Terminaur
Rte
Fort Warin
Alveston Ie
New York Oklawora City
Jan Antonio
Leuit
Tueeday
Imad
Jacoby
Business Review
Dateline
Arby
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