The Week

Mr. Carl Offner, the graduate student who assaulted the dean at Harvard, has been sentenced to one (1) year in prison. Suggestion: let the Educational Television Network play one fifteen-second spot, live, of Mr. Offner, every hour on the hour, over the next twelve months, and let every campus invest in a television set crystal-tuned in to ETV and hung high in every commons room on campus. Sponsor? Any number come to mind. How about the Committee Against War and Fascism? Or, even, the Committee on Peace and Freedom?

An ounce of prevention won’t cure the Pound. Which leaves only the dollar as an operative reserve currency in Europe. Like it or not, Professor Milton Friedman noted on an unofficial visit abroad, Europe is now on the dollar standard. Weighing their chances of redeeming their dollar reserves for U.S. gold (about one in five at best), Europe’s central bankers could hardly disagree. The gold window is closed, the devaluation of the dollar is daily determined by the free market price of gold, and it is time to ratify the fact and let the free market establish the value of Western currencies, as Professor Friedman has long proposed.

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Department of Justice

William F. Buckley Jr.

Mr. Carl Offner, the graduate student who assaulted the dean at Harvard, has been sentenced to one (1) year in prison. Suggestion: let the Educational Television Network play one fifteen-second spot, live, of Mr. Offner, every hour on the hour, over the next twelve months, and let every campus invest in a television set crystal-tuned in to ETV and hung high in every commons room on campus. Sponsor? Any number come to mind. How about the Committee Against War and Fascism? Or, even, the Committee on Peace and Freedom?

An ounce of prevention won’t cure the Pound. Which leaves only the dollar as an operative reserve currency in Europe. Like it or not, Professor Milton Friedman noted on an unofficial visit abroad, Europe is now on the dollar standard. Weighing their chances of redeeming their dollar reserves for U.S. gold (about one in five at best), Europe’s central bankers could hardly disagree. The gold window is closed, the devaluation of the dollar is daily determined by the free market price of gold, and it is time to ratify the fact and let the free market establish the value of Western currencies, as Professor Friedman has long proposed.