Word: reuss
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...dollar 8.57% by raising the price of gold, its prospects for relatively swift passage were all but certain. The man most responsible for anesthetizing the issue in Congress-and thus allowing an unavoidable economic adjustment to take place-is a thoughtful, patrician Democratic Representative from Milwaukee named Henry Reuss. Testifying before the Joint Economic Committee last week. Federal Reserve Chairman Arthur Burns told a blushing Reuss: "If it weren't for you, I doubt that the Smithsonian agreement [devaluing the dollar and realigning currency-exchange rates] would have been concluded when...
...Congress the once overpowering opposition to devaluation has all but vanished. Republican Senator Jacob Javits and Democratic Representative Henry Reuss have introduced a bill empowering Nixon to devalue the dollar as much as 10% by raising the official price of gold. Says Reuss: "If the President asked us for it tomorrow, we would pass it by the middle of next week. We would need only one day of hearings...
...Although baseball cards far outnumbered other kinds shown at the convention, trading was also brisk in cards that featured subjects ranging from birds to Presidents. Such variety is particularly fascinating to Richard Reuss, a teacher of folklore at Detroit's Wayne State University and the owner of a 40,000-card collection. Says Reuss: "They very much reflect American life, from the 1930s when it was G-men and early airplanes, to the '60s when the Beatles and spacemen were popular." Between conventions a great deal of trading is done by mail...
...fixed prices in the bubble-gum-card market. "It's like investing in stocks and bonds," says Collector Nagy, who is a mechanic by trade. He has turned down offers of $1,500 to $2,000 for his prize card, a 1910 Honus Wagner. One of Reuss's most treasured cards is the first Bob Feller, issued by the now extinct Leaf Gum Co. in 1948. It was worth $35 until several other originals turned up, dropping its price to only...
...believed to be less stubbornly opposed to a gold price increase than his official statements indicate, and the Federal Reserve recognizes that the price eventually may have to be changed. Opposition is waning even in Congress, which would have to give final approval. Wisconsin Democratic Representative Henry S. Reuss, whose mastery of the complexities of world finance has won increasing respect from congressional leaders, once threatened impeachment of any President who proposed a large unilateral increase in the gold price. Last week he suggested that the Administration agree to a "modest" increase, combined with foreign revaluations. The chances of such...