Word: outflows
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During his presidential campaign and throughout his first year in the White House, President Kennedy expressed frequent concern about the depletion of U.S. gold reserves. Yet despite his best efforts to reduce the gold outflow, the situation, as described in a report to Congress from Treasury Secretary Douglas Dillon last week, is still serious...
...past five years to $2.3 billion a year, said Hamilton, and "these other free world countries are actually contributing a larger proportion of their gross national products to foreign assistance than is the U.S." Furthermore, said Hamilton, foreign aid does not appreciably affect the U.S. gold outflow: more than 80% of the procurement of goods under the program takes place in the U.S., and only 2% is spent in countries with which the U.S. has an unfavorable balance of trade...
Long Gains. Foreign investment is a two-way street, and the U.S. is by no means getting the worst of the bargain. Booz, Allen figures that U.S. income from private investments abroad has topped outflow by $7.8 billion over the past decade. Says Booz, Allen Partner C. Wilson Randle: "Income on foreign investments is-next to exports-the largest single source of income in the U.S. balance of payments...
...more successfully with mutual savings banks, whose rates run as high as 3¾%. and with savings and loan associations, whose rates run up to 4½%. A secondary purpose: to help the banks hold foreign deposits that might otherwise flee to higher interest havens abroad, thereby increasing the outflow of gold from...
...steadily and savings accounts are satisfactory. After West Berlin's 1958 crisis, Brandt continued, it took seven months before bank deposits returned to normal; today deposits are bouncing back far faster. Some of the signs cited by Brandt may be the result of artificial respiration. More important, the outflow of industry and individuals has at last been stanched; more people, he said, are now coming into West Berlin to settle than are leaving...