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...money that they had borrowed abroad, the U.S. balance of payments deficit hit $10.7 billion in 1970, and in this year's first quarter alone it amounted to about $4 billion. Two weeks ago, rumors swept the Continent that several strong European currencies would be revalued upward, in effect devaluing the dollar. On the strength of those rumors, corporate treasurers and nimble speculators sold billions of dollars for other currencies in Switzerland, Belgium, The Netherlands and especially West Germany. Central banks quelled that speculative spree, mainly by buying all the dollars that were offered. But, like a stabbing pain...
Agonizing Reappraisal. Foreign financial and political leaders are increasingly searching for ways to limit the dollar influx, perhaps by restricting investments financed from the U.S. Though the Europeans and Japanese are reluctant to revalue their moneys, the countries with strong currencies may have to make a joint upward movement of 5% to 10% within a year or two. Washington policymakers would not be at all displeased, because that would make U.S. exports more competitive in world markets. Most often mentioned among the candidates for revaluation: the German mark, the Swiss and Belgian francs, the Dutch guilder, the Japanese...
...romantic flights for English Poet Ted Hughes. Let others waft upward in attenuated dawns and high-blown rhetoric. Hughes stays below, foraging over a gritty landscape, battening onto whatever is starkly elemental. For him, poetry is "the record of how the forces of the universe try to redress some balance disturbed by man." In his taut, compulsive poems, both the error and its redress are usually violent, sometimes disgusting, occasionally awesome. From a bullet-pierced soldier's helmet come "cordite oozings of Gallipoli." Giant crabs, "God's only toys," tear each other apart. Even a thistle...
...higher; nearly half think that their community offers an inadequate range of things to do with leisure time. LOW-INCOME GROWING. These are towns like Sylvania, Ohio, and Billerica, Mass., with sizable populations of skilled workers, most of whom earn their living close to home. This tends to be upward-mobile blue collar country, where incomes are substantially lower than in the affluent suburbs: only 9% of the residents earn $15,000 or more. Still, four out of five are homeowners. Protestants predominate even more than in wealthier suburbia: they make up 64% of the population, and there are practically...
...addition, using data from a U. S. Army study, the HAC found "a decided upward trend in stillbirths, moles, and deformities" in the Vietnamese countryside, excluding data from Saigon (where no spraying has taken place, of course). Nevertheless, the HAC is cautious in drawing any conclusions. A scientific approach remains to be developed, concludes the Commission's preliminary report, for "determining the amounts of herbicide residues in the diet and in human tissues, waiting for future research to determine the implications, if any, of whatever levels are found...