Gold and the Dollar

Archive Report

Deficit in U.S. international Accounts

A problem of great complexity awaiting the Kennedy administration is how to restore full confidence in the American dollar abroad without impairing free world defense or the country's foreign aid programs, and without instituting austerity measures which would further depress economic activity at home and make it necessary to postpone many of the welfare advances promised in the 1960 Democratic platform. Steps recently taken by the Eisenhower administration to redress the balance of international payments, and thus to stem the loss of gold and strengthen the dollar in foreign markets, represent the first facing up to a problem which has become increasingly serious over the last few years. Some of these steps may be further elaborated, and others modified or ...

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