Letters: Jan. 26, 1968

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Off Balance

Sir: I was impressed by your concise and balanced presentation of the Administration's proposed balance of payments program [Jan. 12]. It is indeed surprising and somewhat disappointing, in the light of what economists now know about the mechanics of the balance of payments adjustment, that this package of direct controls over international-capital flows and foreign travel should be presented to the public as an operational remedy for the chronic American payments deficit. Even without considering possible foreign retaliatory measures, the combined negative "feedbacks" (e.g., reduced exports and return flows of earnings on loans and investments abroad) will do much over two or three years to reverse any immediate payments improvement brought about in this way.

Aside from such basic questions, Americans may be excused for being somewhat unimpressed by the argument that the balance of payments cost of maintaining military forces in various parts of the world is to a large degree responsible in making it impossible for them to visit these very countries on their vacations.

INGO WALTER Chairman

Department of Economics University of Missouri at St. Louis

Sir: Ultimately, our best hope for a peaceful, decent world must lie in the development of closer ties with all friendly nations. These ties are best built on the personal relationships between individuals, which come from tourism and business activity overseas.

The limitations on personal travel and spending will constitute a serious infringement of our liberties. It is an unfair price we are called on to pay for inept fiscal management in the Government and monumental giveaways at home and abroad.

CHARLES WALLACE PACKER Winnetka, Ill.

Sir: You give an account of the U.S. Government's purchasing $28.5 million worth of electrical equipment produced in Germany for the Tennessee Valley Authority. How many schoolteachers will have to cancel their contemplated trip to Europe to make up for the effect of this purchase on our balance of payments?

A. W. McTHENIA

Fort Spring, W. Va.

The Giant & Its Problems

Sir: Congratulations to TIME for recognizing the efforts of Governor Rockefeller, Chancellor Gould and the New York state legislature to awaken the long "sleeping giant," S.U.N.Y., and bring it to the forefront of American higher education [Jan. 12].

The people of the Empire State can be justifiably proud of the progress to date and with their continued support, State University (as we in the family prefer to call it), is destined to become the leader of public higher education in the nation.

ROBERT R. HESSE President, Alumni Associatior State University College Fredonia, N.Y.

Sir: It certainly is true that "bigness remains a problem."

My name is 0780212. I live on what you call a "glistening" campus, where I have about as much identity as last year's 14,000 rejects. Perhaps Mr. Gould "can't think of a single possibility for education . . . that doesn't exist in the state university," but I can. Isn't learning about people important any more?

Good luck to those students of the future. I sincerely hope they will be fully equipped with that "new maturity" required of them. They'll need it.