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Newspaper
Southern Illinoisan
Location
Carbondale, Illinois, United States of America
Date
Mar 15, 1968
Page
1
Economists explain how a gold price rise from 35 dollars an ounce would devalue the dollar at home, affect pay, prices, and imports, and who would gain or lose. They discuss world trade impacts, inflation, and potential policy actions including tax hikes and congressional steps.
The United States raised the discount rate from 4.5 to 5 percent and convened a Saturday meeting of seven gold pool nations to stabilize prices at 35 dollars an ounce. The Senate moved to remove gold backing for paper money freeing 11.4 billion dollars of gold to back the dollar overseas.
Joseph A. Cruse 51 of Herrin was fatally injured in a rock fall at Bell and Zoller Coal Company Zeigler 4 mine near Johnston City. He died about 1 40 p.m. while erecting sight lines for a continuous miner. An inquest is set for 7 30 p.m. Monday at Murman and Wilson Funeral Home. Cruse was a district foreman, former motel operator, and a Republican candidate for state representative in 1966. He leaves a wife, daughter, son, sister, brother, and two grandchildren. Burial will be in Elkville Cemetery. services Saturday at Elkville Christian Church.
The Pentagon orders an end to KP duty for service members by mid 1970 with civilians taking over kitchens. Military personnel may still perform KP in combat or other required situations.
State Sen. Arthur Gottschalk withdrew from the Republican gubernatorial race and endorsed John Henry Altorfer, saying Altorfer is now the front-runner. Contenders remain Altorfer, Richard Ogilvie, and former Gov. William Stratton. Gottschalk plans to rally his backers for Altorfer. Gottschalk, 43, of Flossmoor, spoke at a news conference and toured several cities to publicize his decision.
Paul Ziegler of Carmi is expected to withdraw in favor of Rep Kenneth Gray at a 6 30 p m meeting of 21st District Democratic county chairmen in Marion Gray 43 of West Frankfort has filed petitions and will run after initially indicating non candidacy Ziegler a former state senator and Powell aide will attend the gathering and may address the group while signaling the move.
A. P. report examines a credibility gap between U S promises on gold and the world’s belief. It cites doubts about inflation control, balance of payments, and the U S pledge to redeem dollars for gold, fueling demand for gold over paper money.
Sen. Robert F. Kennedy said he would decide soon whether to seek the Democratic nomination. He declined to support President Johnson for renomination and floated possible cooperation with Sen. Eugene McCarthy to deny Johnson renomination, while remaining vague on specifics.
Chicago State Treasurer Adlai Stevenson III said he does not know if he will back President Johnson for another term. He noted the Democratic field is fluid, with leaders still behind Johnson, and he plans to decide closer to the Chicago national convention in August. Senator Eugene McCarthy’s campaign has energized the party.
Showers and thundershowers likely early tonight and a little colder with lows in the 30s. Mostly sunny and pleasant Saturday with a high near 60. Weather details on map page 14.
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