16 The Newt-Review, Roicburg, Ore. Fri., Sept. 16, I960
Flow Of American Dollars Abroad Adds To Uncerf ainf y Of Economy
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DELIVERED DAILY TO 11,500 DOUGLAS COUNTY HOMES
NEW YORK (AP) The in
danger of getting out of hand.
Some hope the trend can be re
versed. The loss of gold is told in the
statistics. The U. S.- gold stock
is now under $19 billion for the
first time in 20 years. The out
flow has been much slower this
year than in the two previous
ones. The hoard now is about
$500 million lower than this' time
last year. But $323 million of that
loss has come in the last nine
weeks.
The U. S. Treasury loses gold
when other nations or internation
al financial agencies turn in their
dollar assets for it. This our Jaw
permits them to do, although the
Treasury won't sell gold to U. S.i foreign holdings of U. S. dollar
creased flow of gold to other na
tions recently and the steady
expenditure of American invest
ment dollars abroad while such
spending is slowing down here
adds to the uncertainty befogging
the domestic economy.
Government authorities and
banking spokesmen assure that
confidence in the dollar isn't be
ing undermined. But some of
them add the ominous word
"yet."
They mean that only if the fi
nancial balance continues to run
against the United States too long
would there be trouble. And they
point to several hopeful signs that
the situation isn't in imminent
citizens except for use in indus-1 " that the U. S. government sends
try and the arts.
Other nations have been piling
up dollar assets for several rea
sons. One is the investment abroad
by American business. That is,
U. S. dollars go overseas to pay
for plants, materials and labor.
They do so because of rising pro
duction costs here or because
overseas plants let American
business get around the remain
ing restrictions that other nations
impose on U. S. products, whether
around $4 billion abroad each
year in the form of military and
economic aid.
American tourists add to the
pile of dollars that foreigners are
building up, and so do our mili
tary bases abroad.
Foreigners also get dollars for
the goods and services they sell
us. Competition with American
goods has been increasing, espe
cially in products made in West
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turope ana Japan. Of late sev
eral American industries have in
creased their complaints and
sought relief in higher tariffs or
quotas, or frozen currency trans
actions.
Another reason for increased I import controls.
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Wilmington, Mass., at the Avco company. The lurnace tests
new materials developed for missile nose cones, rocket engine
nozzles and space crait that must withstand enormous heat.
Redlands Couple In Visit
To Days Creek Residence
: Sirs. Barbara Snyder Lacy and
children Kevin and Kim of Red-
; lands, Calif., are visitors in the
i home of her mother, Mrs. Lucia
Snyder, according to Edith Moore.
1 correspondent. Mrs. Lacy had been
visiting in Roseburg with her broth
i er, Mr. and Mrs. Richard Snyder
I and family, formerly of Days Creek
1 and the Snyders brought her down
from Roseburg to her mother's
home in Days Creek.
At E lief sons
i Visitors in the home of the Lee
j Ellefson family were Mr. and ills,
i Richard Torrey and children, Roz
i anne, Sandra, David and Dean,
; and Mr. Torrey's mother, Mrs. Ha
! zcl Torrey, all of Eugene. They
! also visited in the J. J. Smith
home.
! Mrs. Matt Detloff and daughter,
Janice, from Grants Pass were
visitors in the Ralph Martin home
on Sunday. Mrs. Detloff brought
her mother, Mrs. Margaret Martin
who was visiting her from Whit
tier. Calif. Airs. Martin will visit in
the homes of her sons, Harry, Rob
ert and Ralph, ,
Visiting in the Richard Williams
home for the Labor Day weekend
: were her daughter, Jlrs. Ardis
Powell and daughter, Toni, from
Eugene. On Tuesday, Air., .ind Mrs.
Williams and daughter, Gretchen,
and Mrs. Powell and Toni attend
ed the State Fair in Salem.
On Sunday, Mr. and Mrs. Claude
Howard and daughters. Ivy Lee
! and Inn May, visited in Grants
Pass with his father, J. H. How
ard. Hear Kenned
Mrs. Wayne Smith, Mrs. Charles
Strode, and Jlrs. Lee Ellefson trav
eled to Eugene to hear Senator
John Af. Kennedy speak.'
Grandsons Home
Roy Matthews took his grand
sons, Marty and Gary Knighten of
PARENTS TO MEET
The Myrtle Creek Band Parents
will meet for the first time this fall
next Thursday at 7:30 p.m. in the
band room in Myrtle Creek. All
parents who have children in band
and chorus are welcome to come,
reports Lorraine Birenbaum, correspondent.
Ashland, back to their home after
spending the summer with him.
Mr. and Mrs. Ervin Whetzel at
tended the funeral of his sister-in-law
in Spokane, Wash.
The Home Economics Club of
the South Limpqua Grange No. 9H
will meet in the home of Mrs.
Ralph Martin on Sept. 20 at 1:30
p.m.
Attending the State Fair in Sa
lem on Wednesday were Mrs. John
Larson, Mrs. Ivy McFarlane and
Carter Tracy.
Mrs. Ella Roy has returned to
her home after visiting in the home
of her daughter in Othello, Wash.
Visiting in ihe home of Roy Mat
thews on Thursday was his cousin,
Seth Matthews of Olympia, Wash.
Airs. Luica Snyder spent the day
Monday in Eugene on business.
Airs. Oneta Hendrix and daugh
ter, Agnes: Rev. Alice Alay Wool
ley and Airs. Ralnh Martin and
girls spent Tuesday visiting with
Airs. Hendrix's son, Merrill, who
is in the hospital in Eugene. Mrs.
Hendrix visited with Merrill again
on Sunday.
Air. and Airs. Harold Burgin at
tended Uie State Fair in Salem on
Thursday.
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