Money: Forlorn Hopes

When he travels to Spain this week for an American Bankers Association conference, Treasury Secretary Henry Fowler will conspicuously fly a U.S. air line (TWA), will probably stay only one day and, he says, "I may carry my lunch." Reason for this frugality: once again the U.S.'s hopes for ending its gold outflow have proved to be forlorn.

Fowler, who only three months ago was insisting that the U.S. would whip the eight-year-old problem in 1966, appeared last week at a Washington news conference with Commerce Secretary John Connor, and reported morosely that the deficit in the nation's balance of payments...

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