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Newspaper
Press Telegram
Location
Long Beach, California, United States of America
Date
Sep 25, 1974
Page
2
USDA figures show the August basket for a year of farm produced groceries climbed to 1751 dollars, up 25 dollars from July. Beef pork and eggs drove most of the rise while milk lettuce and bread fell, with farm shares rising and middlemen taking most of the gain.
The Agriculture Department said world grain supply is unusually tight with major declines in the Soviet Union Western Europe Canada and others from August estimates. Wheat production for 1974 is lowered while U.S. and global feed grain stocks face downward revisions, signaling a smaller 1974-75 reserve and uncertain outlook.
Senate sponsors abandon attempts to pass the consumer protection bill after a two month filibuster. Ribicoff quits the fight, ceding a major victory to Allen and Ervin while Kennedy's vote edge could not overcome the needed two thirds to end debate.
The Senate approved a 2 billion measure funding training for doctors and health workers after rejecting Sen Kennedy's broader plan. The substitute requires medical schools to reserve 25 percent of enrollment for service in shortage areas with scholarships and loan forgiveness. It also imposes English and testing standards for foreign trained doctors and delays mandatory service provisions.
AFL-CIO President George Meany urged issuing special bonds as a wartime style measure to curb inflation. He proposed eight and ten percent denominations, arguing such bonds would lower debt service costs and restrain rising prices. He criticized Nixon and Ford policies and warned of a path to recession.
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