[instability. Once again the dollar has been falling…]
Socialist Press1978 1978-04-12Read it in the scan (PDF), scan page 4 →
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instability.
Once again the dollar has been falling in relation to the other major currencies.
In relation to the Japanese Yen, the dollar has been devalued by nearly one third since the beginning of 1977.
The dollar's decline began in response to the massive and growing US trade deficit which reached $25 million in 1977 and is expected to be well over $30 million in 1978.
Callaghan In February alone there was a deficit of $4.5 billion.
Carter fears to reverse this situation by action on the US economy since that would send the unemployment rate up and his own already waning political power down.
A moving appeal from retiring NUS President and Communist Party member Sue Slipman to the Federation of Conservative Students provided a fitting end to the Easter Conference of the National Union of Students in Blackpool.
Slipman's opening address had spelled out the complete lack of leadership and direction from the NUS Executive that has characterised her year as President.
Focussing almost entirely on racialism, she called on the NUS to build a 'broad-based non-sectarian" strategy against racialism, which she counterposed to the "sectarianism of the ultra-left" • The reality behind Slipman's "non sectarian" position was shown up as soon as she went on to discuss union autonomywhich is currently under government attack.
Since the unions are financed from public funds, they should be publicly accountable, she declared. This implicitly accepts that court actions will be taken against student unions that make "ultra-vires" payments to support political or trade union struggles.
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Three years ago Bidwell in different company, on the platform of an IWA meeting (right)
SUSPRESS negrees The Tory strategy of using racialism as a means of rallying a reactionary anti-union base of PHOTO: Andrew Wiard. Report It's alright for the government to ban workers' organisat ons from marching in London under the pretext of banning the National Front: but it's not alright for unions to take steps to sling fascists
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THUIU: Andrew wiara, report PHOTO: