Word: dollars
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Dates: during 1960-1969
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...about the idea of one of our prelates halting his building programs in order to use the funds to alleviate the immediate problems of the poor. For too long the ludicrous situation has existed where the poor have trudged from country hovels and slum cellars to worship in million-dollar edifices of stone, marble and gold leaf...
Some resolution is expected this week when Mill's Ways and Means Committee-the determining voice on any tax measure-meets to consider the matter. Angry as they are, most Congressmen now realize, like it or not, that higher taxes are mandatory if the economy and the dollar are to be saved. But like it or not, Lyndon Johnson also will have to bite the bullet and accept cutbacks that will maim some of his proudest programs...
...delights of a New World country that counts history in millenniums, boasts attractions as varied as jet-set seaside resorts and ancient Indian ruins (see color pages). What's more, with the Olympics scheduled to open in Mexico City on Oct. 12, this will be a billion-' dollar year for Mexican tourism-the biggest ever. Mexicans are going all out to make a stay in their country one long fiesta and to turn the Olympics into "a party for the whole world...
Unless the U.S. can offset this prospective shortfall, it will lead to a rise in the dollar-weakening balance of payments deficit and renewed peril for the free world's monetary and trade system. Chances of improvement seem slim. Congress has shelved the President's proposals to curb tourist spending abroad; rising costs of the Viet Nam war could forestall Government promises to curtail its spending overseas. Thus, it was hardly a surprise last week when the free-market price of gold -a seismograph of foreign anxieties over the dollar-inched up to $39.60 per oz., its peak...
...Stability. Hanging over the bright prospects of peacetime business are the same clouds that trouble the economy in war: inflation and the imbalance of payments. "Our first priority must be to preserve the integrity of the dollar," warned President Rudolph Peterson of the Bank of America last week. "If we fail in that, we will be totally unable to solve our great domestic problems." Only 41% of last year's $4 billion U.S. balance of payments deficit-the chief source of the dollar's weakness abroad-arose as a result of the war in Viet Nam. Now, accelerating...