Time Clock, Aug. 9, 1954

ALUMINUM PRICE RISE will result from Alcoa's contract settlement with 26,000 A.F.L. and C.I.O. aluminum 5¢ hourly wage increase, plus fringe benefits amounting to another 5¢ an hour.

FOREIGN-AID PLANNERS under FOA Director Harold Stassen are working overtime on three economic ideas for Southeast Asia. FOA wants to set up 1) a currency-clearing union backed by $1 billion in U.S. funds, to help settle payment accounts between Asiatic nations; 2) a U.S.-financed rice bank to store surplus rice against famine years; and 3) a series of U.S.-sponsored barter deals by which Asiatic countries can trade more of their raw materials for manufactured...

Want the full story?

Subscribe Now


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!