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Lethbridge Herald, The (Newspaper) - June 9, 1972, Lethbridge, Alberta HIGH FORECAST SATURDAY 75 The Lethbridge Herald VOL. LXV No. 152 LETIIBRIDGE, ALBERTA, FRIDAY, JUNE 9, 1972 PRICE NOT OVER 10 CENTS 1WO SECTIONS -24 PAGES Gold, dollar hike serious to economy By IRVING C. WIIYNOT Canadian Press Business Editor Gold and lha Canadian dollar are going up In price. What does thai mean to the average Canadian? There is no simple, immediate answer. But the long-range outlook if I his situation continues is serious for the Canadian economy. If it hits the economy, that means loss of -sport business and a loss of jobs. And the spectre of re- newed inflation hovers in the background. To determine what all this international monetary upset means it is first necessary to consider the back- ground and the causes. Tliis is not a new crisis but rather another chap- ter in the monetary nightmare the world has been living with for 10 years or more. The public has be- come more aware of the situation in recent years, es- pecially at the time of the stringent -United States moves of last August. Basic changes occur In the last decade or so there have been basic changes in the world economy. New economic forces have been at and the European Common Market, for instance, have grown into major trading powers. That upset the traditional pattern oJ international trade, and thus the pattern of international monetary flow. The United States, for instance, started losing money on its trade, running at a heavy and continuing deficit. As part of his campaign to put its house in order, the U.S. imposed import surcharges and raised tha official price of effect devaluing the U.S. dollar. The new price of gold was set at an ounce, up from But the new price, as well as the old one, is really just a piece of folklore. No American has been able to turn In his U.S. paper dollars for gold since 1934. For more than two years, no foreign citizen has been abla to get gold for his U.S. dollars. And the U.S. last August ordered that, not even a foreign government could convert dollars for gold. Second market exists! But there Is a second market for gold, the so-called free market which deals in gold for industry, jewellers, dentists and specula- tors. This is the market that has been turning hand- springs. The price on this free market has jumped more than an ounce since last December's devaluation of the U.S. dollar. Most of the blame has been put on international operators with billions of dollars at their disposal. By itself, tliis action means little to the average Canadian. But again one must look at the reasons. A Toronto economist says this trading is a symptom that "there is something drastically wrong" in the world. "When these people put their money into gold, they do it to make a profit. That means they figure they can make a belter profit in gold than they can in stocks or bonds or housing or something productive. "So something must be disturbing them." Weaken U.S. dollar This international uncertainty, the speculation in gold and the continuing U.S. trade deficit have tended to weaken the U.S. dollar. One thing that has added to this is that speculators holding U.S. dollars have been converting them into gold. The Canadian dollar meanwhile, continues to rise in price to about U.S. That is the factor that holds serious implications for Canada in the long run. Canada depends heavily on exports for its econom- ic so than any other industrialized nation. When the Canadian dollar increases in price, that makes Canadian exports more expensive and less com- petitive abroad. The result could be falling trade which, in turn, could bring production cuts, plant closings and growing unemployment. "If the Canadian dollar continues to move upward and stays there, it could be a very serious matter and cause considerable damage to our manufacturing industry and to a banker said. There are other factors involved in the increase of the Canadian dollar. Canadian interest rates aro higher than those in the U.S. and elsewhere, attracting foreign funds. Could take steps The central bank could take measures designed to lower Canadian interest rate and stem some of this flow but this would not be without danger. It could actually have the opposite result by making money more easily in turn, could result in tnorejnilalion. Am! it could dry up some of the for- eign investment (he country needs to help maintain its own economic development. What it boils down to is that there is little Can- ada can do by itself to counter the repercussions of this international situation. About the best, the banker suggested, would be for the federal government to press hard to come to a trade agreement with the U.S. and other major trading patterns. In the ml, trade is tfic key because it requires a stable monetary climate. Without It, trade would in could tho Canadian economy. Chaotic situation in Ottawa Govt. faces backlash over oil spill issue By TOM MITCHELL OTTAWA (CP) Mitchell Sharp's Commons statement that Canada is demanding com- pensation from the U.S. for a West Coast oil spill had two ef- fects Thursday. All parties backed the Idea c o 11 e c t i H g for damage and cleanup costs resulting from a refinery spill last Sunday at Cherry Point, Wash. But it also opened the way to a backlash, obviously unexpect- ed by the government, that hog- tied the House throughout the sitting day. The situation got so chaotic that Speaker Lueien La- moureux threatened at one point to recess the chamber on the spot. Outside of presenting a rou- tine committee report, the first order of business Thursday was CRIPPLED BEGGAR BEATEN TO DEATH-This is a re- cent picture of Frank McCreary, 49, a legless beggar who sold pencils on Toronto's Yonge Street -for years and who was found beaten to death Thursday m his rooming house. A native of Giace Bay, Mr. McCreary a downtown-fixture in Toronto for years. (CP Wirephoto) Crippled beggar clubbed to death TORONTO CCP) Two men were arrested Thursday night and charged jointly with tho non-capital murder of Frank James 49-year-old crippled beggar who. was found clubbed to death earlier in the day in a bed of bottles and bro- ken glass. McCleary, a downtown, figure for years, sold pencils on the sidewalk and used a small skata board in order to get around. He was a native of Glace Bay. M.S. Charged in the slaying were Owen David Waterfield, 45, and John Petrie Gillis, 35, each with no fixed address. Police believe a brick, found near his hody, may have been the death weapon and that he died early Thursday after a wine party in his room. Police said he told a number of stories about how he lost his legs below the knees. But the one generally accepted as true is that his legs had to be ampu- tated 15 years ago when they became gangrenous .after hs spent two days in a freight car at temperatures as .low as 42. below zero. He fell 'asleep hi a boxcar at the end of a week- long binge in Sudbury, Ont. Before be adopted the skate board, lie usually propelled him- self on his stumps of legs, heav- ily padded will] leather, using his arms like crutches. miis time we'll be the good guys and you be managnrteni! Airline pilots threaten to ground world flights External Affairs Minister Sharp delivering a statement on Can- ada's formal request to the U.S. government for compensation over the Cherry Point spill. The gallons of oil lost during tanker unloading quickly drifted north la foul British Col- umbia shores. STATES CONCERN Mr. Sharp said Canada had registered with the U.S. govern- ment "grave concern about this ominous expressed its conviction that "far more se- rious spills will inevitably take place" if Alaska oil is trans- ported down the West Coast to U.S. markets, and was demand- ing firm assurances that dam- age claims and cleanup cost would be paid. That drew general approval from spokesmen of each opposi- tion party allowed by custom to Strom to remain Socred leader Gold price continues to rise LONDON (AP) The price of gold resumed its upward climb on Europe's bullion mar- kets today but remained below the record highs reached Thurs- day. The U.S. dollar weakened on some European foreign ex- change markets. Gold fell in profit-faking lata Thursday after setting record highs of between and an ounce. But continuing the pat- tern of recent weeks, the downward adjustment was brief and the' price began climbing when markets opened today. At its record, the free-market price of gold, which fluctuates according to supply and de- mand, was 76 per cent above the fixed official gold prices, an ounce, used by government central banks. Some speculators have been betting that the soaring free- market price will eventually force up the official gold price, in effect devaluing the dollar. This has been one reason for the dollar's weakness in Eu- rope. By GREG McINTYRE Herald Staff Writer Alberta Social Credit leader Harry Strom said today he does not intend to step down and open the way for a Sep- tember party leadership con- vention. SPECULATION Referring to speculation7 that a leadership convention is pending, Mr. Strom said "that's just what it is, speculation. I say now, as I have been saying all along, I'm not prepared to discuss that matter." Barring a call from within the party for Mr. Strom's res- ignation seen as remote by most observers the 57-year- old Medicine Hat area farmer will hold his leadership man- date at least until the regular annual party convention, like- ly to be held in January 1973. News reports today said sources within the party favor a September convention and Gordon Taylor (SC Drum- Walter Buck (SC Clover Bob Clark Olds Didsbury) and others were possible candidates. Of the younger possible leadership candidates from out- side the Socred caucus, Werner Schmidt, 40, academic vice- president of Lethbridge Com- munity College has been men- tioned. How ever, Mr. Schmidt said today he has no plans to get Into politics. He was defeated in the Edmonton Belmont con- stituency in August by Labor Minister Bert Hohol. Candidates in the provincial Socred convention in Novem- ber 1968, in order of popularity were: Mr. Strom; Mr. Taylor, former highways minister; Dr. Buck, a Fort Saskatchewan dentist; Ray Reierson, former labor minister; Edgar Gerhart, former attorney general and Alf Hooke, party organizer and MLA for Rocky Mountain House. comment on such a ministerial statement. They added some expected criticism. Conservative Leader Robert Stanfield said compensation for spills is less important than firm action to put Canada in a position to control such situa- tions. The government had tac- kled the whole question of a probable increase in tanker traffic along the West Coast "very late in the day." Barry Mather White whose constitu- ency includes Crescent Beach, where much of the Cherry Point oil hit shore, said the govern- ment hadn't taken enough pre- ventive action and lacked pro- per contingency plans to handle spills when they did occur. He called the Cherry Point re- finery port an "ecological time bomb" ticking just off Canada's shores. QUESTIONS COURAGE Andre Fortin said the government had never shown too much courage in tac- kling the U.S. on such matters and he suspected the Sharp statement amounted to a cover- up. That seemed to be that. Until Jerry Pringle Val- ley East) proposed that the House support the urgent need for a call to the Canada-U.S. International Joint Commission to study spillage hazards in the West Coast areas of the Juande Fuca and Georgia straits and Puget Sound. His proposal was under rule requiring unanimous the kind of consent the Liberal majorily had denied earlier in the week to a siring of opposi- tion motions for action on the Cherry Point spill. There was no government denial tliis time, but opposition MPs took off on a debate that chastised Ihe government for al- leged laxity in pollution-preven- tion measures. Mr. Stanfield said regulations established in Ihe 15th and I6th centuries still were being used for ocean traffic. What was needed was modern safeguards by both Canada and the U.S. in their coastal waters. Mark Rose Valley West) called Ihe Prin- gle-Sharp efforts a naked move to try to make the Liberals ap- pear hi better light before an election. Douglas Hogarth Westminster) said he was "fed up with the obvious delay" in his own government's action to protect the coast. There had been lack of action in prepara- tion for the latest spill. Allan MacEachen, govern- ment House leader, finally pro- posed that the oil debate be ad- journed. It took a formal vote to get the adjournment, handily won by the Liberal majority. No business done in Commons sitting By STEPHEN SCOTT OTTAWA (CP) It was just another day in the Com- mons No questions were asked; no business was done; no action taken. Some odd-ball suggestions were as a pro- posal to provide railway cars to ship snow from the North. But the parliamentary day lasted from 2 p.m. until 400 miners still entombed Fire hampers mine rescue WANKIE, Rhodesia (Reuter) Rescue teams searching for more than 400 coal miners bur- ied since Tuesday in a maze of tunnels had to stop work briefly today when 100 ions of coal caught fire. Mine officials blamed sponta- neous combustion for the fire, which was quickly brought under control. Rescue workers so far have shored up about feet of the explosion-shattered main entrance shaft and expect to find more bodies today. Shortly after the fire was brought under control, rescue workers lifted two of the bodies to the surface. Officials have given up hope of finding any of the men alive. Mine officials said Thursday night they found some of the bodies in the three-mile long Wankie Colliery shall, but would leave them there until tha morning. All hope has gone for finding alive any of the men trapped by last Tuesday's explosion. Res- cue teams have localed many bodies, and it is believed that the recovery operation mil take about a week. "Some of the miners are trapped under tons of rubble and there are still clouds of poi- sonous gas down said one of the weary rescuers after a long shift underground. The probable death toll now is highest in southern Af- rican mining history, and sixth lughcst in the world. -me! LONDON (AP) The Inter- national Federation of Airline Pilots Associations threatened Thursday night to ground most of the world's airlines for 24 hours June 19 unless the United Nations takes effective action against aerial hijacking. The strike threat came a few hours after 10 Czechs hijacked a Czechoslovak airliner to West Germany, killing the pilot in tha struggle to take over the plane. A West German prosecutor salt) he will try to put the Czechs on trial. The U.S. Air Line Pilots Asso- ciation has asked all union workers to join it in a boycott of the airlines of all countries that give refuge to skyjackers. The international federation said it supports proposals to set up a special commission lo rec- ommend m e a s 'i r c s against countries that harbor or fail to prosecute hijackers, md warnedt "If the United Nations fail to take effective action, then 1FALPA has initiated plans to institute a worldwide stoppage of air services on June 19, 1972." The statement added that "as- sociations representing over half the pilot members of 1FALPA have already agreed to this course of action." The fed- eration includes 64 associations with a total membership of pilots. CALLS FOR UN TALKS The group said it is threaten- ing a strike "in view of the fail- ure and ineffectiveness of mea- sures so far taken by the United Nations, the International Civil Aviation Organization, govern- ments and other bodies and of the continued exposure of pas- sengers, crew and aircraft to intolerable hazards." It called on tho UN Securily Council to discuss (ha situation BO later than June 16. 10 as It always does on Thursdays. Only two things of sub- stance occurred in a day marked by three recorded votes, 11 motions of "urgent and pressing necessity" a cou- ple of procedural debates, points of order, points of priv- ilege and a plethora of nasty remarks flying across the House. The two substantial things were a statement by External Affairs Minister Mitchell Sharp on the Cherry Point, Wash., oil spill of last Sunday and a debate on that spill that the government did not want but had to tolerate. INDEPENDENT ACTS The day was fittingly capped when Roch LaSalle Joliette, an independent who sits in lonely splendor at the end of the Liberal benches, scuppered an all-party agree- ment that might have brought some settlement to the whole day. At one stage Speaker Lueien Lamoureux threatened to ad- journ the House early, as nothing was being achieved. Out" of the whole mess tho government lost one of the few days it has left before planned adjournment June SO lo turn its legislation into law. A scheduled debate on in- d u s t r I a 1 democracy, spon- sored by Social Credit, had to be postponed until next week. Seen and heard About town vice president Werner Schmidt and de- partment head Doug Alston enjoying Ihe opportunity to fill college board members in on their recent sojourn to Las Vegas Dwight Jensen missing a meeting because notice said it would be held "Wednesday June 6" June 6 being a Tuesday. PLACARDS GREET PREMIER-A crowd of about 300 persons carrying placards greet- ed Premier W. A. C. Bennett and his cabinet Thursday when they arrived in While Rock, B.C., one of 1he last stops on a provincial tour. Placards protesting recent oil slicks in Ihe area read: "We know you can walk on water but how do you stand on oilj' and lots of fun in tho Black Rock Whits Rock 13 30 miles southeast of Vancouver. (CP Wirephoto) Envoy named WELLINGTON, N.Z. (AP) G. Lloyd White, now deputy sec- retary of foreign affairs, is to become New Zealand's ambas- sador to the United Stales, re- placing Ambassador Frank If. Corner, officials announced Fri- day. A career diplomat, Whita Is M and married with ons Bon, ;