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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - July 11, 1973, Lethbridge, Alberta Wedrwtrfey, July 11, THI UJTHMIDM IIKUiD IT Fluctuating U.S. dollar causing uneasiness in money circles By KEVIN DOYLE LONDON (CP) Fluctuating unevenly on extremely nervous foreign exchanges, the Unied States dollar is causing a de- gree of uneasiness rarely paral- lelled since the early 1930s. Some seasoned stock brokers and money managers are even beginning to think in terms of a possible collapse of the post-war world financial system. "The world isn't far from an emergency which could see the bottom simply fall out of our traditional financial said one veteran broker. "I've been in this business for 35 years and I've never seen anything like it. In this kind of situation, rational forecasting is useless." His view appears to be shared by a number of commercial bankers and stock dealers in 'Europe. Their fear seems to be that continuing speculation against the to a lesser extent, ex- ceeded the limits of reason and may no longer be subject to ra- tional remedies. TOURISTS HIT .Meanwhile, in'countries such as Canada and the United States, imports become more expensive as the dollar de- clines tending to force up prices and aggravate inflation. Tourists who have to convert dollars for other currencies are especially hard hit. Exports from dollar countries, however, become cheaper and their pay- ments balances usually im- prove. Central' bankers and politi- cians are maintaining their fa- cade of secrecy, apparently hoping by their silence to con- vince the world and currency speculators that they are in control of the situation and can handle any new turmoil. But the fact that their efforts have produced no remedies and no visible signs of progress, de- spite countelss conferences and pious statements of success, has gradually eroded the confidence of businessmen. In the past, the international community tended to look to Washington for decisive action during monetary crises. But the Watergax scandal and the ap- parent inability of the U.S. to solve its own economic prob- lems have seriously weakened the American position. After a weekend meeting of central bankers from the West in Basel, it appeared the U.S. and other countries had agreed to intervene jointly in the mar- kets to shore up the dollar against the immense selling pressure that has forced it to record lows. But trading Monday indicated such intervention was half- hearted at best and, in some cases, non-existent, although the policy may yet be imple- mented more extensively. Most Europeans readily agree that the dollar is grossly under- valued in relation to other lead- ing currencies. "But be that as ft said an official with Barclay's Bank, "the real question is how you can get people to believe ft. "Until recently there was always a fairly strong belief that regardless of the dollar's present plight, it would even- tually get stronger. Now, with Watergate and its attendant problems, investors just aren't so sure anymore." GOOD FOOD COSTS LESS! 2025 MAYOR MAGRATH DRIVE "COLLEGE MALL" 324 MAYOR MAGRATH DRIVE 420 6th STREET SOUTH "DOWNTOWN" VALUES EFFECTIVE TIL CLOSING SATURDAY, JULY 14, 1973. 3 1 ASSORTED COLOURS FACIAL TISSUE KLEENEX 2 ply pkgs. Rice Krispees wt pkg 59c Bathroom Tissue YORK FROZEN SHOESTRING FRENCH FRIES 2-99' Kleenex Asserted 2 roll pkg. Sit Assorted colours................4-roll pkg. Nabob oz. Waffle Syrup 3 Kingston! Briquettes Orange Crystals r Alpine Club.........Poly pack of for Petato Chips tSSL.... 2 99c Hostess 814 oz. net wt. pkg. 57c Black Pepper 69c 199 Serviettes net wt. tin lOr .....each 'V 15-01. net wt. U for I Rhllbarb York Frozen, 2-1 b. net wt. pkg. 49C 59e CARNATION QUALITY PRODUCTS 16-OZ. NET WT. JAR COFFEE MATE inch...... 12-OZ. NET WT. PKG. MASHED INSTANT INSTANT. SKIM POWDERED MILK Mb. net wt. pkg. SLICED COOKED MEATS SIX VARIETIES. SWIFT'S PREMIUM. GOVERNMENT INSPECTED 6 ex. pkg. 2-89" SAUSAGE STICKS FIVE VARIETTIES. SWIFT'S PREMIUM GOVERNMENT INSPECTED 24 oz. If SLICED SIDE BACON SWIFT'S PREMIUM, LAZY MAPLE .OR APPLEWOOD 1 Ib. pkg. FINEST MEATS CHUCK STEAKS FULL CUT BLADE CANADA GRADE A BEEF FRYING CHICKEN GOVERNMENT INSPECTED. BURNS FROZEN IDEAL FOR THE BARBECUE____ Ib. CROSS RIB ROASTS SKINLESS WIENERS GOVERNMENT INSPECTED CANADA GRADE A BEEF REGULAR AND ALL BEEF GOVERNMENT INSPECTED SWIFT'S PREMIUM 1-lb. vac pkg.......... HEAD LETTUCE B.C. CANADA NO. 1 GRADE LARGE HEADS YORK FROZEN MEAT PIES CHICKEN, TURKEY BEEF, KIDNEY ft-OZ NET WT. PKGS. FRUIT COCKTAIL Austral Fancy Grade 14 oz. tins SALAD DRESSING LOBIAWS 32-FL OZ. JAR CANADA NO. 1 GRADE RED, RIPE TOMATOES SEEDLESS GRAPES SWEET, JUICY A ib. 49 CATEUI MACARONI AND CHEESE DINNER 7V4-OZL NET WT. PKGS. BEANS 'N PORK or SPAGHETTI VIVA. 14-fL OZ. TINS Peanut Butter JACK and JILL NET WT. JARS WE RESERVE THE RIGHT TO LIMIT QUANTITIES. WITH THIS COUPON YOU MAY PURCHASE WITH THIS COUPON YOU MAY PURCHASE 1 CASE 24 10 FL OZ. ZIP TOP TINS WITH THIS COUPON YOU MAY PURCHASE OF ALPINE CLUB CANNED POP Marqonne FOR ONLY Plus Deposit COUPON EFFECTIVE Til CtOSfNG TUESDAY, JULY 17, 1973. AT IrMAtT ;