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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - June 3, 1970, Lethbridge, Alberta 'hircl Section Lethbridgc, Alberta, Wednesday, June 3, 1970 PAGES 27-M Depends On How Mack U.S. Currency It'll Buy By CARL iUOLLI.NS OTTAWA (CP) The ups and the downs of the Canadian lollar during the last century cover a range of more than 50 cents, measured by how much United States cun'ency it would uy. In recent history, however, the two dollars have never been more than a dime apart. With' Sunday's announcement that the exchange value of the Canadian dollar will be permit- ted to fluctuate according to in- ternational forces of supply and demand, the new relationship between the dollars will be de- termined in trading this week. It means the Canadian dollar, for some undefined time, will no longer be pegged in terms of U.S. funds by international agreement. Since May 2. 1902, when Can- ada abandoned a floating ex- change rale, the Canadian dol- lar has been pegged officially to buy 92 U.S. cents. Limited leeway for market forces permitted the relation- ship to fluctuate narrowly, buy- ing as little 91.57 U.S. cents on one side or as much as 93.43 U.S. cents on the oilier. Put the other way around, a Canadian had to pay in his money for a U.S. dollar, with fluctuation of less than a cent either way. The fluctuations are mea- sured by fractions of C4ths of a I cent on foreign exchange niar- kets, where a shift of 1-Mth or l-32nd can mean the difference between profit and loss for a dealer. WANT CANADIAN' MONEY This year, (he Canadian dollar j has been in demand, because j merchants and financiers j abroad wanted Canadian funds i to pay for an unusually-high rate of exports from this coun- try or to invest in Canadian en- terprises. As a result, federal authori- ties supply what they regard as an excessive sum of Canadian dollars to fill demand on ex- change markets and prevent the dollar's value from riding above its pegged limit. In effect, Sunday's announce- ment means Canadian mone- tary authorities will stop paying out lo keep the dollar on its peg. However, if the Canadian dol- lar should rise spectacularly to price Can- ada's exports out of world mar- authorities o r1 e certain lo intervene quietly. 'Hie same would happen if present market forces went into reverse and caused the dollar to plum- met. But Finance Minister E. J. Benson would not say where he and Bank of Canada authorities hope to see the Canadian dollar settle in relation lo U.S. funds. That would tip dealers and ena- ble speculators lo make a kill- ing. Once the Canadian dollar set- tles dov.ii in the international a value of 95 U.K. cenis. government is likely to peg it there again. Away back in a year after Confederation, when the U.S. and Canadian dollars theo- retically were worth the same, the Canadian unit reached a j premium position never since approached. HIT U.S. DOLLAR The U.S. dollar was depressed in the wake of the civil war and by August. 1368, a Canadian dol- lar would buy U.S. The U.S. dollar recovered and jthe two unils remained about equal until the First World War, when there were fluctuations o! up to two cents either way. TRUDEAU SHOWS STRENGTH Canadian Prime Minister Pierre Trudeau in civilian clothes throws Fred Gruber, a 4th dan (grads) judoist, by grabbing him by the shoulders and using his leg to kick Gruber off balancs, in a spontaneous match at Tokyo s Kodokan-Hall. Gruber is an English teacher from Toronto. __________________ ilion To Army Dra For Vietnam In V.S. Risini By JOIIN T. WHEELER WASHINGTON (AP) "Hell, no, we won't the demon- strators chanted. They burned their military- draft cards, staged destructive raids on draft boards and fer- vently believed that public pres- sure would force an early end to the Vietnam war and the Selec- tive Service system in the United States. Years later, both the war and the draft still are much in busi- ness. And so are those trying lo avoid bovh. But Selective Service steadily has grown tougher to escape and evade. Exemptions have dwindled and physical and men- tal standards have been low- ered. Now President Nixon has ordered an end to job and par- enthood exemptions and asked Congress to halt post-high school student deferments. The latest Nixon plan, knowl- edgeable officials say, was an inevitable turn toward facing up to a lottery-type system ordered earlier by the president but which failed by 20 per cent dur- ing the first quarter of 1970 to produce the necessary men to keep the army up to strength. MILITANCY RISING A nationwide survey by The Associated Press indicated mili- tancy among those threatened by and opposed to the draft is rising. But young men deter- mined to fight clear of Selective Service generally recognize anger alone is ineffective in warding off the day when they are ordered to take that sym- bolic step forward into the army at the induction centre. "Two years ago the SDS (Stu- dents for a Democratic Society) set the pace." one anti-war, anti-draft leader on the West Coast said. "Then the thing was :o burn your card, or turn it in, or refuse induction. The method now is to dodge and fight, but :or yourself as a personal act of salvation, not a political act against the Establishment." "Politics are a Colum- bia University student said. "But I don't want to go to jail or get killed. So I've got to work it out inside the Establish- ment." There is a growing awareness among youth that those with wit, determination and, espe- cially, money can find effective ways of postponing or escaping altogether that final confronta- tion with khaki and drill ser- geants. ADVICE AVAILABLE Across the United States, hundreds of draft-counselling centres staffed with anti-war volunteers stand ready with scores of suggestions and im- pressive expertise on how to get remaining deferments and all the legal rights prospective in- ductees are entitled to Major centres report case- loads have doubled in the last year and that larger waves still are expected in the wake of the president's latest tightening of draft exemptions. Many deferments are fairly straightforward and normally can be established readily with- out much outside help once a youth knows he qualifies and then applies for exemption. But those waging a guerrilla war against the draft contend, and some draft officials agree, that men entitled to deferments are denied them because the draft board simply doesn't un- derstand the laws and regula- tions it is supposed to apply. 't I Toronto Winks At Topless Craze TORONTO (CP) In tile last few weeks, four Toronto night- clubs have taken the plunge and have "gone The clubs are the latest additions to the growing trend towards the new nude or semi-nude look here. It started back in 1965 one night when a stripper called Justa Dream was performing in T o r o n t o 's Victory burlesque house and one of her pasties fell off. She tried lo replace Ihe pas- tie, but after several abortive attempts she cut short her act. Thus Miss Dream's loose pastie paved the way towards topless gogo dancers. Now the Victory docs a totally nude act. The new permissiveness has extended itself beyond the night- club scene. People who wouldn't be caught dead in some of the city's night had no second thought about buying tickets for Spring Thaw, Hair or Dionysus 69 all of which featured much publicized nude scenes. Toronto lawyer Arthur Pen nington, who successfully de- fended Rochelle Owen's play B'utz against charges of obscen ity, claims that Toronto is multi-standard town. "It's my submission that a larger as the city of can tolerate the activity of a smaller community like the theatre-going crow he says. Another lawyer. Aubrey Golden, who has been dcfendinj the movie Vixen a g a i n s charges of obscenity, notes thai "people are generally more tol cranl." "They'll! more willing to live ami let live. The old taboos are Discussing the problem, a jus- tice department source said. 'Draft board members can universally be expec'.cd to coi. duct then- proceedings along the ;ame lines as a court of law." The unpaid board members, who have no budget for profes- sional legal advice, referred cases to the justice de- partment for prosecution last year. Only actually were tried. i CANADA A HAVEN Although anti-draft group claim draft dodgers are n Canada, federal officials say the figure is preposterous. They point out that of the now now carried on delinquent rolls most are believed to be still in the United States. One state of !icial said some of the men ii Canada already are exempta from the draft for mental or physical reasons or have no been called. The most common defermen granted is that for fathers and young men who can prove F major hardship on dependents i they were called. Some men among the population are in this category This proportion should dwindle markedly next year, since the lottery-type system then will in volve only 19-year-olds. If thej were not parents before April under the new presidentia directive, they face the same draft risks as single men unles. they can prove exceptional cir cumstances. These would ii> elude grave emotional or finan cial hardship on dependents i the man were to go. COULD GET WORSE Some Selective Servic sources expect more trouble to the a 1 r e a d y heavily-besiege< draft boards, if fathers ar drafted, and college students re main exempt as some congres sional sources expect. When Nixon asked Congres to end student deferments, somr congressmen replied that th president already lias the powc to do it himself. Whether any one is prepared to take the po litical consequences for cndin the student deferments is consi dercd doubtful by many ir Washington. At the same time, some 11 Selective Service are concerns that charges that the draft i discriminatory and favors the well-to-do will intensify. Perhaps the most controvcr sial deferment is that grantc conscientious objec'.ors. Nation illy, there are only Hrig.-Gen. Henry M. Gross head of Pennsylvania's Sclec live Service, spoke for many when he said: "There arc in- creases in the number of con- scientious objectors; it's up 55 per cent since 1965. But I can't say how many are conscientious and how many arc just objec- tors." At the national level, officials say the percentage of conscien- tious objectors "haj not changed perceptibly." DELIVERY CHARGES EXTRA GRAIN ACCEPTED ON TRADE 1038 3rd Ave. S. Phone 328-1332 ;