The Nation: Scorecard on the Freeze

As a result of President Nixon's wage-price freeze, 10% surtax on imports and suspension of the dollar's convertibility into gold, both the domestic economy and the world monetary system remain dominated by an uncertain blend of international politicking abroad and hopeful but guarded confidence at home. Some of the week's developments: THE ECONOMY. With the first rush of excitement subsiding, businessmen and consumers began looking for signs of the impact that Nixon's new program was having on the economy. The New York Stock Exchange's Dow Jones industrial average, which had soared to a high of 908.37 the previous week, started the...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!