davidaulloa/AmericanStories huggingface dataset:
Navajo times., 1963-05-30

during the winter and spring
months, and is based on such
factors as carryover storage IN
reservoirs, comparative stream
flows, depth and quality of mountain
snowpacks, precipitation, and soil
moisture content.
AS usual, conditions in certain
localities vary considerably from
the general picture. In 1.-THE northern
portions Of California, an un-
expectedly wet April has resulted
Navajo times., 1963-05-30
Dedmon Goes
To Fort Ord

Private First Glass Raymond
Dedman was reassigned back to
Fort Ord, California after receiv-
ing training in small arms repair
man at Aberdeen Proving Grounds,
Maryland during the period is
June 1862 through 2 Sept. 1862.
PFC Dedman is presently attached
Navajo times., 1963-05-30

to Hq Co USATC: and during Basic
Training, USATC and Inf Fl o. >,
PFC Dedman was with Company
G 9th Battle Group 3rd Brigade.
He came in as three-year active
SerViceman.
Raymond halls from Nazlini,
Arizona and the son of MIR. and
Mrs. Miller DedmanSr AS a small
arms specialist. Raymond works in
the Weapons and Equipment Pool
under CA staff section. RAYMOND
has graduated from the US Army
Ordnance School in Aberdeen,
Maryland earning an ordnance MOS
military Occupational Speciality.
Raymond plans to enter the
Navajo Police Force after his hitch
with the Army. He comments
doing very good" with everything
while serving the Army at Fort
Ord.
Navajo times., 1963-05-30

in very good runoff and reservoirs
filled and spilling. Subnormal
spring precipitation in New Mexico
and Texas has resulted in low
water levels in re eservoirs along
the Rio Grande, where the seasonal
outlook is poor.
In general, however, reservoir
storage will be at least adequate
for irrigation projects Throughout
the West.
(Continued on Page 14l
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-18
Rate of Military
Outlaws to Be Cut

Military Expenditures: The
Defense Department has, since
the beginning of this admins
tration, been making vigorous
efforts to restrain overseas ex-
penditures, without reducing
military effectiveness.
Thus, gross expenditures
abroad by the department
have been held below 1860 lev
els. AS a result of the desire
of our allies to acquire from
us modern military equipment
substantial offsets to these
expenditures have also been
achieved, so that our net out
lays abroad for defense have
declined from $2.7 billion in
1860 to $40 billion in 1862.
The Secretary of De-
tense has informed me that the
annual rate of expenditures
abroad by the department Of
defense will be reduced - my
measures to be put into effect
before the end of calendar year
1964-by more than $500 mil
lion from the 1862 level
without any reduction in the
effectiveness of our military
nn.k,V,.a
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-18
Key to Improving
Competitiveness

Before turning to the spe-
cific measures required ]
must emphasize once again the
necessity of improving this Ma
tons overall long-range eco
nomic performance. This
is the key to improving our
international competitiveness,
increasing our trade SURPRISES
and reducing our capital out
flows.
That is why early enactment
Of the comprehensive tax re-
duction and revision program
previously submitted is the sim
gle most important step that
can be taken to achieve bal
ance abroad as well as growth
here at home.
The increased investment in
centives and purchasing power
these personal and corporate
tax reductions would create
combined with last years &C
tons giving special credits for
new investment and more IA
vorable depreciation treatment
will promote more employ
ment, production, sales and in
vestment. particularly VIII e n
accompanied by the continued
ample availability Of credit and
reasonable long-term rates OF
interest.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-18
Equalization Tax
Through IS Urqed

A third alternative-the one
which I recommend - would
stem the flood of foreign Sc
curity sales in our markets
and still be fully consistent
with both economic growth and
free capital movements.
urge the enactment by Con-
gress Of an interest equaliza-
ton tax" which would, in eff
feet, increase by approximately
l per cent the interest cost
to foreigners of obtaining capt.
tai in this country, and thus
help equalize interest rate pat
terms for longer term financing
in the United States and abroad.
The rate of tax should be
graduated from 2.75 per cent
to Is per cent of of the value
of debt obligations, according
to the remaining maturity of
the obligation, and should be
Is per cent in the case of equity
securities.
This tax should remain in
effect through 1865 when i'm
provements in both our balance
Of payments and in the oper-
alton of foreign capital markets
are expected to permit its aban-
donment.
Under this alternative, the
ALLEGATION of savings for invest
ment in securities will continue
to be the result of decisions
based on market prices. There
will be no limitations on the
manlfeting Of foreign issues and
no governmental screening of
borrowers.
Reliance will be placed on
price alone to effect an over
all reduction in the outflow
of American funds for stocks,
bonds, and long-term loans
both new or outstanding,
whether publicly marketed or
privately placed.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-18
BY the Associated Press

FOLLOWING Is a partial teTt
OF President Kennedy's mes
sage to Congress today on the
balance OF payments SituG-
ton:
Soon after my Inauguration
I reported to the Congress or
the problems presented to this
Nation by the successive years
beginning in the 1950s, OF
mounting balance of payments
deficits accompanied by large
gold outflows; and I announced
a program designed to restore
both confidence in the dollar
and eventual equilibrium In
our international accounts.
1t is appropriate now
to review the progress
made and to chart the course
ahead.
Our economy has re-
sumed its growth and unem-
ployment has been reduced. The
dollar remains strong, bull
warked by nearly 40 per cent
of the free worlds monetary
gold stock as well as by a newly
constructed network of BIZ
lateral and multi-lateral fl
nancial ARRANGEMENTS.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-18
Exemptions to Tax
Are Enumerated

The tax would not apply to
direct investment. It would not
apply to securities or loans
that mature in less than three
years. Nor would it apply to
the loans Of commercial banks.
These exemptions will assure
that export credit will remain
fully available. Furthermore,
purchases of the securities of
less developed countries or of
companies operating primarily
in such countries will not be
taxed.
Nor will the tax apply to
transactions in foreign secu-
rites already owned by Amer
leans, or to the purchase Of Sc
curities by foreigners. But
all Americans who purchase
new or outstanding foreign Sc
curities from foreign issuers or
owners would be subject to this
tax.
In order to avoid unfair
burdens on transactions which
are nearly complete, the tax
should not apply to offerings
of securities for which active
registration statements are
now on file with the Securities
and Exchange Commission.
Purchase commitments which
have already been made should
also not be affected.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-18

M paymentS deficit.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-18
See America Now
Drive Is Urqed

TOurism - Another element
that requires attention in our
commercial transactions is the
increase in our unfavorable net
tourist balance. Total tour
list spending in foreign coun-
tries rose another 10 per cent
last year, to nearly SIS billion
(resulting in a nett outflow of
$l.4 billion, or two-thirds of
last years overall balance of
payments deficit. This year
the cost is estimated to be still
greater.
... I am asking the domestic
travel and tourism industry TO
launch a more unified drive to
encourage Americans to learn
more about their own country
and the glory of their heritage.
A See America Now program,
to be in full operation by the
spring of 1864, will make the
most Of our magnificent re-
sources and make travel at
home a more appealing alter
native to travel abroad.
FEDERAL EXPENDITURES
ABROAD-Federal expenditure
abroad go largely for defense
and aid. These represent the OBJ
legations which flow from our
position Of world leadership and
unrivaled economic strength,
With the recovery Of other eco
nomically advanced nations,
particularly our allies in West
ern Europe. We have made
vigorous and increasingly sue
cessful efforts TO work out with
them a better sharing OF our
common responsibilities. 80.
A continual process OF mod
ernizing our armed forces and
increasing efficiency, resulting
In heightened defense effective
ness, is reducing the requir-
ments. for overseas dollars ex-
penditures. At the same time,
by tipping our aid NOR effec-
lively TO domestic procurement
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-18
Explains Increase
On Rediscount Rate

-. Inc recorded ouC1loWS Of
short funds-t og e t h el
with unrecorded net outflows
a large portion of which
undoubtedly represent short
term capital movements-Still
amounted to approximately
SIS billion in 1862 and have
continued on a substantial
scale so far this year.
1t is for this reason that
the Federal Reserve has de.
cided to increase the rediscount
rate from 3 to 3la percent. Al
the same time, the Board Of
Governors of the Federal
Reserve System and the Fed
eral Deposit Insurance Corpo-
ration have raised the interest
rate ceilings on time deposits
payable in 80 days to one year
in order to enable our banks
to compete more effectively
with those abroad and thus
attract funds that might other
wise leave the country.
An increase in short
term rates-at a time when
liquid savings are growing
rapidly. and when there are
no accompanying restrictions
on credit availability nor par
allel increases In interest rates
on bank loans, home mortgages
or other long-term obligations
should have little, II any. ad.
verse effect on our economy.
LONG TERM capital out
flows consisting Of direct in.
vestment in productive plant
abroad appear TO have leveled
off in recent years, whereas
portfolio investments in the
form Of long-term loans OF
securities purchases have beer
rising rapidly. 1t is UP from
$3.50 million In 1860 to $l.2 bill.
lion In 1862, and so far this
year is running at an annual
rate Of well over SIS billion.
:. There appear TO be only
three possible solutions TO this
problem, two Of which are UNI
acceptable under present cir
cumstances:
A substantial increase In our
whole long-term interest rate
structure would throw our econ.
omy into reverse, increase un.
employment and substantially
reduce our import requirements
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-18
PARTIAL PRESIDENTIAL TEXT
Gold Flow Curb Urqed

of our major competitors is a
powerful force working to re-
store our payments balance
over the longer run. -.
While these long range
forces are taking effect, a series
of more immediate and special
lied efforts are needed to re-
duce the deficit in our inter-
national transactions and de-
fend our gold reserves:
EXPORT EXPANSION-Oul
commercial sales of goods and
services to foreign countries in
1862 exceeded our purchases by
$4.3 billion, and they are con-
tinuing at about the same rate
this year. This is our greatest
strength, but it is not enough
Our exports of goods have
risen only moderately over the
past three years, and have not
kept pace with the rapid rise
of imports which has accom-
panied our domestic expansion
AS a result, rather than fur
nishing increased support for
our other transactions, 1862
saw a decline in our CONNER
cial trade surplus.
The primary long term
means for correcting this sit
uation is implementation OF
the Trade Expansion Act OF
1862. The special representa-
tive for trade negotiations is
preparing to use to the fullest
extent the authority given to
me by the act, in an across
the-board drive for lower tar
ifs and against other barriers
to trade.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-18
Wage and Profit
Stability Held Vital

To gain new markets abroad
and retain the gains OF new
growth and efficiency here al
home. we must continue the
price-cost stability OF recent
years. limiting wage and profit
increases to their fair share Of
our improving productivity. =.
Our success in holding down
our price level relative TO that
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-18
Gold Outflow HoIved
And Deficit Reduced

Our gold outflow has been
halved. There are signs of
longer-run improvement in our
world competitive position, as
our prices and costs hold
steady while others are rising.
The deficit in our balance
of payments has been reduced
from $50 billion in 1860 to
$2.4 billion in 1861 and $2.2
billion in 1862.
Our basic strength, moreover,
is vast, real and enduring. Our
payments deficits, measured in
terms of our loss of gold and
the increase in our short term
liquid liabilities to foreigners,
have consistently been equalled
or exceeded by the growth of
our long term high yielding
foreign assets - assets which
have been and will continue to
be an increasing source of
strength to our balance of pay
ments.
Today, Americans hold more
than $50 billion of private in
veStments abroad, and dollar
loans repayable to the United
States Government total over
$11 billion. At the end of 1862,
all Of these assets exceeded our
liabilities to foreigners by an
estimated $27 billion. -.
These are all signs of prog
ress. But unemployment is
still too high; our growth rate
is still too low; and it is now
clear that despite the favorable
forces at work over the long
run, more remains to be done
today to eliminate the contin-
ming navTnentS deficit
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-18
1865 Cuts Seen
In AID Prourum

Agency For international De-
velOpment: During 1860 only
about one-third of aid program
Expenditures were in the form Of
United States goods and serv-
ices. Last year that proportion
had risen to about so per cent.
But during the fiscal year
which ended last month, fully
80 per cent of AIDS commit
ments were "tied" to the export
Of United States goods and
services.
The balance was virtually all
committed for purchases in the
less developed countries rather
than in the developed nations
where the payments SURPRISES
exist which give rise to our def
icit. During fiscal year 1864, for
which funds are now being con-
Sidered by the Congress, aid
commitments tied to United
States exports will rise beyond
80 per cent of the total.
I have directed that aid
expenditures entering our bal
ance of payments in fiscal year
1865 may be further reduced
to not over $500 million,
the lowest practicable mini
mum.
Other Departm ents and
Agencies: The overseas dis
bursements of all other de-
partments of Government have
also been brought under special
review and control by the di-
rector of the Bureau Of the
Budget. Total Federal ex-
penditures abroad Excluding
defense, aid, Treasury pay
ments) coming within the
scope of this review now
amount to approximately $500
million per year. The Director
of the Budget has assured me
that vigorous screening of ex-
penditures abroad by these
other Federal departments and
agencies will achieve further
substantial balance of payments
savings.
SHORT TERM CAPITAL
FLOWS-By skillful use of the
tools of debt management and
monetary policy, the Treasury
and the Federal Reserve
have substantially reduced
the outflow of short-term capt.
tai through a series of care
fully managed increases in
short-term money rates, while
maintaining ample credit avail
ability and keeping both long
term rates and hank loan rates
low and, in many cases, de-
clininO
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-18
Given High Priority
After Tax Cut Action

=. I have been assured that
the House Ways and Means
Committee will be prepared to
give high priority to this pro-
posal after action has been
taken with respect to the over
all program Of tax reduction
and reform now before it,
Since the effectiveness Of this
tax requires its immediate ap-
plication, I am asking Congress
to make the legislation effec-
tive from the date Of this mes
sage.
INVESTMENT BY FOREIGN
SAVERS in the securities of
United States private compan-
les has fallen rapidly to less
than $3.50 million in 1862.
A new and positive program
should be directed to the fol-
lowing areas of effort:
(a) The Identification and
critical appraisal Of the legal,
administrative and institutional
restrictions remaining in the
capital markets of other indus
trial nations of the free world
which prevent the purchase of
American securities and ham
per United States companies in
financing their operation S
abroad from non-United States
sources;
(b) A review of United States
Government and private activi-
ties which adversely affect for
eign purchase of the securities
Of United States private COM
panies; and
(C) A broad and intensive
effort by the United States fl
nancial community to market
securities Of United States
private companies to foreign
investors, and to increase the
availability Of foreign financing
for United States business oper-
ating abroad.
L have asked the Treasury
Department, in consultation
with the State Department. to
develop an organization plan
and program. -.
Full augmentation of
the program of action I have
outlined today should lead to
substantial improvement in our
international payments.
The rate Of Government ex-
penditures abroad will drop by
5000 million over rhe next Is
months, and the combined
effect Of the increase in short
term interest rates and the
interest equalization tax should
equal, and more probably ex-
coed, this figure.
Gains Of this magnitude
approximately So billion-will
give us the time odr basic long
term program needs TO improve
our international competitive
position, and increase the at
traction for investment in the
United States.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-18
Immediate Measures
To Help Exporters

This administration Is con-
centrating on six immediate
measures to help American
businessmen take advantage Of
our export potential.
First, the Export Import
Bank has created a wholly new
program of export financing
which now provides Unite d
States business with credit IA
cilities equal to any in the
world. I urge the Congress
to act promptly to restore the
bank to full operating eff
cheney by renewing its charter
and authorizing adequate fl
nancing.
Second, the departments OF
State and Com m cree have
strengthened and expanded ef-
forts overseas to probe for new
markets and promote the sale
and distribution of American
products.
Third, the Department Of
Commerce has developed 9
broad program of education
and assistance to present anC
potential American exporters.
have requested a relatively
small amount of additional
funds to strengthen the de-
partment's efforts to stimulate
our exports.
These funds, amounting tt
Sc million, were not approved
by the House of Representa-
tives. 1t is essential, If we are
to increase our trade surplus
that they be included in the
final appropriation bill. :.
Fourth, the Department Of
Agriculture a nounced last
March a new auction program
for direct sales of cottor
abroad. 1t is expected that
this new technique will ensure
competitive pricing for our cot
ton in export markets and will
increase exports by as much
as 500 million over last years
levels.
Fifth, present ocean freight
rates discourage our exports as
compared to imports. Ac-
cordingly, I have directed thu
Secretary Of Commerce to take
corrective action through the
Maritime Administration; and
I am urging the Federal Mari
time Commission in its role al
an independent regulatory
agency to question those spe-
cific export rates which appear
unduly high. Should legisla-
ton prove necessary, it will bt
sought.
Sixth, in order to give fur
ther momentum to the ex-
pansion Of our export per.
Torrance, I will convene q
White House Conference or
Export Expansion on Septem-
Der II and Is, to alert Ameri-
can firms, whether or not they
are now exporting, to the op.
portunities and rewards Of ini-
tiating or expanding export eff.
| AA..Aa
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-18
Trade and Defense
Policies Reuffirmed

A significant portion of our
progress so far has been due
to special agreements with
friendly foreign countrieS-for
dept proponents, advance pay
ments for military equipment,
and United States borrowings
abroad. Such special trans
actions cannot be relied upon
for the indefinite future.
Moreover, while our CONNER
cial trade balance and Govern
ment expenditures overseas
have shown modest improve
ment, capital outflows, both
short-term and long-term, have
increased.
Although there is urgent need
for further effort I want to
make it clear that in solving
its international payments
problem, this Nation will con-
tinue to adhere to its historic
advocacy of freer trade and
capital movements, and that 1t
will continue to honor its OBJ
legation to carry a fair share
of the defense and development
of the free world.
At the same time, we shall
continue policies designed to
reduce unemployment and
stimulate growth here at home
for the well-being of all
free peoples is inextricably
entwine d with the progress
achieved by our own people.
I want to make 1t equally
clear that this Nation will
maintain the dollar as good as
gold, freely interchangeable
with gold at $35 an ounce, the
foundation Of the free
worlds trade and payments
SvetaY1n
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-18

and cutting civilian expendi-
lures sharply, we should be able
to achieve further savings.
In fact, by January 1865,
these processes should result in
a reduction of the rate of our
Federal overseas dollar expen-
ditures by approximately 81
billion from that of 1862.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-18

thereby damaging the economy
Of every free nation;
The initiation of direct CAPT.
tai controls. which are in use
in most countries, is inap-
propriate to our circumstances
1t is contrary to our basic pre-
cept of free markets. We cannot
take this route.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-07-18
Well mu The Star every duy your regular subscription

Keep in touch with whut's going on OF home
in Washington while you ore owuy on your
vacation. This summer we offer vucutioninq
Stur readers q convenient extra seVice-we1I
muiI The Stur doiIy-0t no extra charge
to regular subscribers. Just tell US where you're
going. when you're leaving and how long you
pIun to be uwuy. Your copy Of The Stur will
reach you every day.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-08-11
choRnel 2--WMAR (cBs)
chonnel ll-WBAL (NBcl
Chonnel l3-WJZ tABcJ
'imore Programs

AUG 1l-AUG. II II: soH SS:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-08-11

7:00.EcrlY Riser ------- 2
7.30-Eorly Riser 49,. 2
LORENZO and friends = -
asking and Ode Show 2
e:30.Romper Room ---. 70
300 The Life Of Riley 49,. 2
Miss Rhso and Sunshine u
9.3o-Faiher Knows Besi - 70
9,4o-Dioling for Dollars -. 2
1000 Sporstime Bowling "
Doy In Court ------- -
ll:30-Pete and clodys --- z
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-08-11
Mond0y-Fridoy

l2.0o-C. Wheeler Show -
I2;3o-Eyewitness News - -
l:00.Womon's Angle .--- 2
One O'Clock Show - II
A:30-Peis the 7lrois "
4:35-Bvddy Deone ------- -
5:o0-Bozo the Clown 2
5,3o-Roeky and Friends - 2
5:45-DepUty Dows show 2
7:l0-lnqviring Reporters - "
ll.l5-Sieve Allen Show - -
ll,25-Bob Jones' Doybook "
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-08-11

l;00-kovie: Anchors
Awsiah" part u .--- -
5;30-MoVie, The ClodioioF" II
600 Adventures in PoFodise -
o:30-Son francisco Beat -- 2
I;3o-HveklsbsrTY Hound - "
500 Strikes and Spores - II