Mt. Vernon Register-News from Mt Vernon, Illinois on June 21, 1951 · Page 11
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Mt. Vernon Register-News from Mt Vernon, Illinois · Page 11

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Mt Vernon, Illinois
Issue Date:
Thursday, June 21, 1951
Page:
Page 11
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THURSDAY, JUNE 21, 1951 THE REGISTER-NEWS — MT. VERNON, ILLINOIS FORT KNOX GOLD PILE HAS SHRUNK THREE BILLION Shrinkaf* Now Hoitt; «21,- 75S,000,000 Hoard Still Biggest in World. NEW YORK, Juno 21—The Fort KnoJC gold pllo has stopped shrinking after dwindling at the fastest rate in our history. Uncle Satn isn't spending his #'OUgh so far now for high-priced foreign raw materials for his stockpile. And he is selling more goods to other countries—for cash, inatead of on the cuff or for free, as he did in the early postwar years. As a result, for two months now the gold hoard hasn't dropped below ,521,755,000,000. It rises and falls a few hundred thousand dollars worth from day to day as world trade varies. It's still the biggest pile of gold ^kn the world by far, but it's $3 billion less than it was at its peak in September, 1949. It shrank l?!.? billion last year, the biggest drop for any year in our history. The loss represented the record flow of imports to these shores, especially after Korea spurred stockpiling and sent tin, rubber, wool and most other prices soaring. Kxportfl Now Rising . Our exports are rising now as •Europe rearms, and as Latin America si>ends the dollars she has been earning by selling us coffee, metals, wool and oil. Foreign traders think exports could reach 115 billion but Uncle Sam, thi-ough various foreign aid plans, will pick up the tab for about 554 billion of that. And also, we may import about $12.5 billion—paying for it in goods and cash. So that other nations should have at least $16 billion to settle their U5 billion 4 ^with Uncle Sam. Whatever they *lnight have left over they could hold as dollar reserves, which they value about as much as gold. Imports Hit FeAk Imports hits their all-time peak in March at more than $1 billion for the month. Exports hit their best postwar mark in April at $1 .4 billion. In only three months since the war—August and October, 1950, and January, 1951—have imports topped exports. But during most .jof the postwar years those exports **were paid for to a considerable extent by money that Uncle Sam had given other countries for that UNDERMINING THE ALPS hat-. i>i<i) n III 11 ni\Ni I JM BBRNARD i aBERTVILU '1,4' m AP Newsfeaturet gENEVA — The stage is set ^ for one of history's greatest engineering feats — a road ^tunnel through the 15,700-foot Alpine peak of Mont Blanc. ;^ Only final French government approval of a contribution totaling .'54,700,000, one quarter of the total estimated cost, is needed for the project to become a reality. All the technical and administrative plans are ready for work to begin immediately from both sides of the mountain. The two points of departure, one near Chamonix, France, and the other near Coumayeur, Italy, are separated by nearly seven and one- half miles of solid rock. The Mont Blanc tunnel, when completed, would be four times longer than any existing vehicular tunnel in the world. The Italian government has given its full approval to the project, but the French government, after approving it in pViciple on several occasloiis, con tinues to hesitate because of the cost. The government's hesitation is encouragec by sectional interests in France. TIME TO BUY LIQUOR IS NOW from the only Liquor Store in Mt. Vernon. East Side Square - FREE DELIVERY. PHONE 100 or 708 Free Parking In Rear b A A A A A/ purpose. Equal Rights for Women Too High Asieeidtd ?r«» LONDON. June 21.—Britain's Labor government has affirmed *the prindple that men and women should get equal pay for equal work but says right now the eountry can't afford it. Turning down requests of women in government service for pay equal to the men's Chancellor of the Exchequer Hugh Gaitskell told the House of Commons last night such a -move would cause Inflation. BLOOD MOBILE AT THE ARMORY FRIDAY, JUNE 22 12 NOON TO 6:00 P. M. PHONE 2083 FOR APPOINTMENT DEGREE IN DARKNESS Blind Mrs. Jeanne DeBarr Pechtel, and her seeing -eye dog, "Nell," wait in commencement exercises at Northwestern University, Chicago, for Mrs. Pechtel to receive her doctor of , philosophy degree. FOR SALE OLD NEWSPAPERS Sc BUNDLE Frath Frextn Coll 2929 MOUNT VERNON FLYING SERVICE CHECI ^^^^ HANGERS rKCEi For Your Automobile COME IN FOR YOURS TODAY $ We'll p 'trs V Giv. oHh>^ "I* *• For Your Old Bik* Rtgardless ef Cenditlen When You Trad* for Any N*w finston* •ICYCLE ixtra Low BUDGET TERMS ^<M.Moo DOWN ^ ^^•ond OS LIttU «i 75 A WIIK liHIPII rOlt YOU KIOS WHO PON'T HAVi A »IK1 TO JiAPI I THIS COUMN li WORf H , ;' tVMtam nw MMCNAM or ANY ^ nunoNi Mcvcu AT UOUUUI m MKI IT YOU 00 NOT HAVI A <;;^ TBAOI .IN. ONU ONI COUPON % MAT II Amiia ON A MCVCU. 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