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Griffin Daily News
1 J 4 B ■ B SALE THROUGH AUG. 14.
IL Zl J A * — __ ■ WE RESERVE THE RIGHT
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” n A DIVISION OFCOOK UNITED, INC. ~ H
SALE ON THESE ADVERTISED SPECIALS 3 DAYS ONLY ■
I 1N Ol« HEALTH & BEAUTY DEPT. ■
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■ STEAM and DRY IRON CONCENTRATE SHAMPOO pkg. of ioo 9 white I
■ PAPER PLATES B
•Full fabric iron steams 01 dry irons MHHB
everything from wash and wear to 8088 A little goes a long, long, way, and the a • Large economy package of paper BABB
linens and cottons. tube is unbreakable, too. Make Prell l_ plates for weeks of picnics ahead BB
your family's shampoo. I
| P XtSWE22%]U^, 9 , S f Q |SAVE~43%] Qj«, |
ItJHfefeX ™«. HL JOHNSON’S S-rEull N
|\kg^— w- Z/v\ baby I
™ f \F)W shampoo ■
Brother* Chapgep || fcT U“"« “■ * — -"™ THERMOS CHILD’S ■
■ TYPEWRITER I UamJJ LUNCH Kn ■
All steel bantam weight typewriter wB I \ \ x. I
features full size standard office key | \ \ 1
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.1 igntweignr, ruggeu m “J?n \ \ // •Take peanuts to lunch •Oi the Pai t Bk
Mm "*"■ \ \\. y! ■■ I" ridge family. «These and more in K* ■
\ X -</ / ** with’/ 2 pt. bottles. ■
■BOTHER *77 \
TYPEWRITER 49.87 >«. 2 QZ. WWi%| [SAVE 23%| I 1 ■
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Il JO7 TAMPAX 10’s |
REGULAR and SUPER O-CELL-O -
■ SAVE 25% OFF C
OUR REGUALR DISCOUNT PRICE LI J ,T wfl OU R OrUNIItO KSK
12 0* AW OC O/ DFP *Handy for big and small jobs ■ASH HOUR
• Fantastic savings on cases specially selected foi m tier oAVt around the house and garage. _ B
value. •Buy now for summei vacation tups. rLtAwt WFB w fcWr ZWJ ■■■■ Jj® •Assorted sizes REG. 56
“ — IN ol | R TOY dept. ■
PENNY LYNN ■
KAREN ■
■ DOLL — —B
A GENERAL ELECTRIC ffißilll® 5% FT. HI-SLIDE ■
m w <gKj' .®k swimming pnm
B AM/FM TABLE RADIO N B
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■ •Compact cabinet is big on sound 4k HMMB fll
with solid state speaker. kl Kfl J 1 f | _ ■■ 4l fl
uies also AFC on FM, twin ant '1 fl I I. ■
ennas. direct tuning. " s '« '| J W wfl I
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If wt sell out of any adver
I :-s Now you can , I tried specials* you will '»«'»e
■l™ charge /IMMEMORIAL DRIVE (Old 41 South) |
Thursday, August 12,1971
6
? ’**
1
»- iW y
TOP PRIORITY should be
assigned the administra
tion’s welfare reform bill,
Health, Education and Wel
fare Secretary Elliot L.
Richardson has urged in
Capitol Hill hearings on the
measufe which would rad
ically reorder present pro
grams. He said reform was
essential to bring burgeon
ing welfare rolls under
control by the mid-’7os.
Dollar
already
devalued
By DEAN C. MILLER
UPI Business Editor
NEW YORK (UPl)—The
world money marts have been
buzzing this week about a
possible devaluation of the U.S.
dollar. In fact, devaluation of
the dollar, considered by some
as the first big surrender of
U.S. world power, already has
happened, and there is nothing
Washington can do about it.
“Independent action by offi
cials of friendly countries since
December, 1969, already has
devalued the dollar by 3 per
cent,” said James Cooper,
director of economic research
at Irving Trust Co. of New
York, one of the world’s
largest. Economists at two
other large New York banks,
both preferring not to be
identified, agreed.
This all being so, the experts
are convinced that the Ameri
can man on the street has
nothing—at least at this time—
to worry about, whether
“devaluation” comes about
formally or not.
“What’s all the excitement
about?” asked the senior vice
president and chief economist
of a major New York bank.
“There could be some long
term problems but certainly in
the short term it’s all for the
U.S. good. The floats of the
Canadian dollar, the West
German mark and the Dutch
guilder and the revaluation of
the Swiss franc and the
Austrian schilling have helped
our balance of payments
problem. And that’s a major
factor in our present worry
about our dollar-gold position.”
“Let’s talk abut it, but only
theoretically,” said a vice
president of another large New
York bank, “because I’ll bet
our bank vaults that there will
be no actual U.S. devaluation of
the dollar.
The German D-mark has
been floating (seeking its own
value level without monetary
agreement restraints) since
May 8, and has increased its
value in relation to the U.S.
dollar by 7.5 per cent Based on
U.S. exports to Germany, that
has devalued the U.S. dollar by
about 0.9 per cent, according to
this banker.
“But it also has decreased
our trade imbalance which, like
inflation, division over the
Vietnam war and ghetto unrest,
makes free world currency
markets jittery about the
country to which they look for
leadership,” he said.
Europe has had such worries
in recent weeks, and the fuels
of fear were ignited last
weekend when the House-Senate
subcommittee on economic
affairs openly discussed the
possibility of devaluing the
dollar.
European money markets
erupted, but Washington main
tained its financial “cool,” and
the tide turned Wednesday.
Gdd, the basis for all free
world monetary values and
which had on the basis of fear
gone up above the U.S.
arbitrary value of $35 per
ounce, (topped 50 cents per
ounce on trading floors.
“These currency movements
can’t do anything but help us
over the short term,” a
knowledgeable New York ban
ker said. “Any distrust of or
deterioration of the dollar could
be bad over the long haul, but
only because it has been
traditional for a long time to
peg everything against the
dollar. We don’t look for that in
the present picture.”