Drop in dollar

Regarding the front-page article "Election Jitters Partially Blamed for Dollar Drop," Aug. 27: The article does not match the facts, as the dollar has historically lost ground against strong currencies. A bipartisan policy of government-induced inflating endorsed by both parties has nearly destroyed our currency. In the immediate post-war era, 360 yen were required to buy one dollar, and the deutsche mark and Swiss franc were worth around 25 cents. Now the dollar has approached 25 yen, and the mark and f ranc are worth about 71 and 80 cents respectively, as of Aug. 27.

Inflation is cumulative and compounded, which explains why the dollar is worth only 10 cents. Anyone who believes the trend will reverse or that a nation can prosper with a worthless currency ignores the lessons of history. Howard L. Naslund, Annapolis, Md.

Letters are welcome. Only a selection can be published, subject to condensation, and none acknowledged. Please address them to "Readers Write," One Norway St., Boston, MA 02115.

You've read  of  free articles. Subscribe to continue.
QR Code to Drop in dollar
Read this article in
https://www.csmonitor.com/1992/0914/letter2.html
QR Code to Subscription page
Start your subscription today
https://www.csmonitor.com/subscribe
CSM logo

Why is Christian Science in our name?

Our name is about honesty. The Monitor is owned by The Christian Science Church, and we’ve always been transparent about that.

The Church publishes the Monitor because it sees good journalism as vital to progress in the world. Since 1908, we’ve aimed “to injure no man, but to bless all mankind,” as our founder, Mary Baker Eddy, put it.

Here, you’ll find award-winning journalism not driven by commercial influences – a news organization that takes seriously its mission to uplift the world by seeking solutions and finding reasons for credible hope.

Explore values journalism About us