Tough Trade Plan Follows Dollar Devaluation
President Nixon, after a 10 percent devaluation aimed at calming markets, pushed for tough trade legislation to secure fair access for American business. Treasury Secretary Shultz outlined steps including ending foreign barriers, potential tariffs, and capital-export controls by 1974, while Japan’s yen floats and IMF supports reform.
MENTIONED IN THIS ARTICLE
Washington
Nixon
U.S
Treasury
George P. Shultz
Shultz
White House
Congress
Devaluation Affects Prices and Trade Balance in 1972
The 10 percent dollar devaluation would lift U.S. prices for imported items like Japanese tape recorders German cars and French wines while making U.S. goods cheaper abroad. Effects vary by country with fixed rate currencies like Germany and France likely raising a car or wine price modestly. Canada and Britain with floating rates see uncertain shifts. Domestic impact includes inflation from higher import costs and potential long-term gains in exports and jobs if the move slows imports. The goal is to trim a record $6.5 billion trade deficit and spur broader monetary reform.
MENTIONED IN THIS ARTICLE
Washington
U.S
West Germany
France
United States
Valentines and Bull Sessions At POW Release Camp
Ex prisoners of war at Clark Air Base Philippines spend their first day of freedom signing valentines, sharing war stories, and enjoying hot showers and American meals. They undergo medical checks, admin processing, and uniform fittings ahead of possible flights to Travis Air Force Base. Some returnees are fast-tracked for family illness cases while two aim to depart tonight. Washington reports 20 more POWs expected to be released by North Vietnam in a few days as Kissinger visits Hanoi.
MENTIONED IN THIS ARTICLE
Clark Air Base
Philippines
United States
Hanoi
South Vietnam
Travis Air Force Base
California
Clark
Air Force
Glendon W. Perkins
Orlando
Fla
Navy
Brian Woods
San Diego
Calif
Washington
Pentagon
North Vietnam
Henry Kissinger
Defense Department
Jerry W. Friedheim
Turnover Machinery Grinds At 290 Meeting
The USD 290 board approved hiring two new teachers for 1973-74, Ethel Robinson and Shirley Hooper, with first-step salaries and assignments to Eugene Field Elementary. Several resignations and retirements were approved, including long-time staff at Eugene Field, Lincoln, Garfield, and Ottawa Junior High. The board also reelected administrators for 1973-74, prepared for Level III special education expansion, and heard a new elementary drug abuse education program funded by a $2,000 state grant.
MENTIONED IN THIS ARTICLE
Jewel Scott
U.S.D. 290 Board of Education
Ethel Robinson
Shirley Hooper
Eugene Field
Miss Robinson
University of Kansas
Hooper
Southwestern State
Okla.) College
Lincoln
Ralph Loyd
Hawthorne
Marlin Kimball
Albert Keefer
Eisenhower
Dale Fox
Harold Wallace
Marvin P. Forker
U.S.D
Forker
U.S.C
Pomona
White
Leonard Meyers
Ottawa Education Association
U.S.D. 287
Prisoner Exchange Continues As Vietnam War Ceasefire Violations Pitch In
Saigon and Viet Cong exchanged hundreds of prisoners at Loc Ninh with 27 U.S. captives freed Monday and 500 Communist soldiers released in return. U.S. C130s ferried prisoners between Bien Hoa and Loc Ninh. over 600 government prisoners and 500 Communists cited exchanged since Monday. Ceasefire violations were logged at 2,880 with casualties totals across sides and civilians. The North Vietnamese Foreign Ministry accused Saigon of violations over 2,000 times.
MENTIONED IN THIS ARTICLE
Saigon
Loc Ninh
U.S
Thailand
Bien Hoa
Pleiku
Central Highlands
Quang Tri
Hue
Joint Military Commission
le Trung Hien
Hanoi
Hien
Foreign Ministry
Kansas school finance clash stalls on claims at breakfast
At an Eggs and Issues breakfast in Topeka Kansas lawmakers Sen Joe Harder and Dr Marvin Harder argued over funding methods for public education Both defended their plans and warned the Johnson County court ruling demands equalized per pupil support Harder said the committee plan would lower property tax mills in the poorest districts while Docking backed an approach with higher combined rates in some areas The dispute centers on a 1.5 percent income tax surcharge proposed to replace property taxes and raise funds to balance the system
MENTIONED IN THIS ARTICLE
Topeka
Kan
Kansas
State Association of Commerce and Industry
Joe Harder
R-Moundridge
Senate Education Committee
Marvin Harder
Robert Docking
Wichita State University
Sen. Harder
Harder
Docking
State
General Revenue Fund
Johnson
Sen
Senate
Also Mentioned on This Page
Japan
Tokyo
Finance Ministry
Bank of Japan
Canada
Great Britain
John Turner
International Monetary Fund
Paul A. Volcker
Volcker
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