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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Oct 28, 1979
Page
2
The editorial argues Marguerite Bowman should win a second term for restoring Elyria to near solvency after a near default in 1975. It credits tax measures and street projects, notes concerns about renewal of the income tax, references challenger Michael Keys, but supports Bowman for stability and continued city services.
A Los Angeles Times report links an IRA suspect to stalking Princess Margaret. It warns that terrorists could strike in the United States, mirroring violence from Europe and elsewhere, and critiques anti nuclear protests and the erosion of democratic norms.
Southeastern Colorado farmer Gene Schroeder turns to moonshine to bypass processors and sell fuel alcohol directly to consumers. The family builds a 50,000 dollar still and aims to keep control of the market amid big corporate plans for multimillion dollar distilleries backed by New York bankers. Schroeder says fuel alcohol could empower small farms to resist bank and grain dealer pressure.
Washington focus reviews SALT II amid narrow Senate panel vote and doubt about two thirds for ratification. Arms data show Soviet spending at 140 billion in 1977 while U S spending declines to 101 billion, boosting calls for stronger defenses. Carter Kennedy dynamics spark questions on 1980 nomination, Ford contemplates a potential convention role as race tightens. Women executives rise in banking with quadrupled top roles. job growth edges up to 97.2 million, eight million new positions added in two years, boosting optimism for labor market.
A retrospective essay links the 1929 crash and 1979-80 volatility, noting 82 million shares traded in a day, rising unemployment, and inflation fears. It credits Volcker for potentially curing inflation with disciplined money supply, while warning of ongoing risk and political rhetoric.
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