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.Skip to next paragraph
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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.
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