Interview with Richard Grissom, a Navy veteran, concerning his experiences while aboard the submarine USS Tirante in the Pacific Theater during World War II. Submarine School, New London, Connecticut, 1944; his training as an electrician's mate; qualification examination; assignment to the Tirante, 1945; various patrols around the Japanese home islands.

Interview with James Voss, a lawyer and employee of the Caltex Petroleum Company from San Antonio, Texas. Voss discusses his earlier life and joining Caltex, work on company claims involving postwar China and other assets affected by World War II, the crude oil market, effects of the Chinese Communist Revolution on the company and markets, company operations in Japan and reconstruction, the company in Korea and Vietnam, mergers, purchases, divestments, expansion in the Mid East, South Africa, re-entry into China, and reflections on the energy business and his career.

Photograph used for a story in the Daily Oklahoman newspaper. Caption: "Water Spider Boat is the latest idea for fun afloat from Tokyo."

This report focuses on the political and military partnership between the United States and Japan. The U.S.-Japan alliance, forged in the U.S. occupation of Japan after its defeat in World War II, provides a platform for U.S. military readiness in Asia. Under the Treaty of Mutual Cooperation and Security, about 53,000 U.S. troops are stationed in Japan, providing the major U.S. forward logistics base in the Asia-Pacific.

The dollar declined abruptly in value against the yen in the second quarter of 1994, spurring the central banks of seventeen nations to coordinate a series of intervention efforts in the world's currency trading markets. In addition, the dollar's decline sparked discussions of the possible policy moves the United States and other nations might take to stem the fluctuations in the value of the dollar. Economic theory and empirical evidence indicate that the underlying movement of the exchange rate is tied to the long-term, macroeconomic movements of the economy, or to the combined movements of the economies of different countries, such as the United States and Japan. These macroeconomic factors account for at least half of the overall movement of exchange rates.