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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - March 12, 1971, Lethbridge, Alberta 26 THE IE1HBRIDGE HERAID March 72 1971 COMMUNTY EFFORT Snow removal equipment had been hardpressed in the past week and residents In near pitched in Wed nesday removing up to sixfoot drifts from driveways and secondary Benson silent on dollar plan OTTAWA CP Finance Minister Edgar Benson declined in the Commons Thursday to say what action he if Canada cracks OTTAWA CP The Bank of Canada cracked down this week on a system of interna tional cuirency transactions that effectively permitted United States dollars to pass through Canada to Europe in vi olation of a 1963 USCanada Letters to the chartered banks from the central bank called for a halt to such dealings as con trary to the if not the let of the 1968 policy Under the 1968 the Canadian government agreed to disallow a net outflow of currency from Canada to coun tries other than the United In Canadians continued to be exempt from rules that restricted bor rowing by foreigners in the United Last some dealers in Canada began lending idle Ca nadian funds to European insti tutions for periods of anywhere from a few days to six the European banks would exchange the Ca nadian funds into That meant that U dollars were being drawn out of Cana dian reserves by an indirect When the borrowings the U turn to but the Bank of j Canada became concerned that the practice was The quantity of funds invested outside the country at any given time could have become im mense unless the practice was The Eruopean dealers found it more profitable to engage in such transactions than to raise funds in Europe Interest charged on dollar Innns tended to he louer in Canada than in the socaiied Emodnllar mar about upward pressure on the Canadian The matter was raised by the New Democrat who said exports and employment will be adversely affected if the Canadian dollar exceeds the U dollar in He asked what Benson plans to do to assure that the Canadian dollar will not exceed parity with its America counter Would interest rates be lowered Would the money sup ply by expanded Benson replied that inter est rates were reduced some 10 days ago and that Douglas had advocated a floating Douglas said one reason the Canadian dollar was un pegged was to avoid tying up money in foreign now at S485 He asked what will be done to reduce the MUST OBEY LAW Benson said he is limited by law in the use of the foreign exchange Max XDP financial asked whether Benson ask Parliament to change the Benson said that if he did he would announce Douglas asked whether it could be assumed that Ben son planned no action at Benson said Douglas Harkness gary Centre asked whether the dollar will be allowed to reach a fivecent premium in relation to the Benson said he could not discuss Mr Benson told Op position Leader Robart Stanfieid the government can accept or reject the advice of the prices and incomes Mr Stanfieid had asked about a Toronto speech by Commis sion Chairman John Young warning that a program to cre ate jobs could cause another round of inflation Benson said it is not the governments opinion that job making uill create He respected Young but the latttrs opinion uas not neces sarily the government s George I Ices Ed wardHastings asked Ben son to outhro the governments policy on stimulating the econ omy without causing high infla tion Benson advised him to read his Former prime minister John DicfenbakfT Mr Benson to I able all his speeches He aid ho had ncur road because he only for interest or UP TO OU7o ON MUFFLER REPLACEMENTS WE HAVE A 5995 MUFFLtR FOR MOST CARS FREE INSTALLATION 10 MINUTE INSTALLATION LIFETIME GUARANTEED MUFFLERS FREE INSPECTION AND ESTIMATES ALL AT M INSTALLATIONS Phono 3288134 509 6th Avcnun South EATONS goes w When we say anything we mean GWGs go with Or Because weve got styles and colours to please boys or From mild styles to wild styles from executive slacks with flare to groovy new jeans from casuals to hip new Flip And we have a selecfio n of patterns youll be delighted Yes you will be in style wilti GWG this For Men and Young Men MENS CASUAL Nevr 65 avnl in solid Full cut for a fuller fit or executive for a slimmer Size 30 O OH 10 46 PAIR fciUU KLONDIKE 50 50 Regular or executive Sizes 36 to Q QC PAIR YOUNG MENS Nevr Press fabrics in the newest of strip patterns Wide belt loops Front scoop back patch pocket and flare Sizes PL034 YOUNG MENS JEANS Hard wearing snobol denim two Super hin Hiigqinij slim and trim leans with 13 inch bottom 23 to Snog fitting through the hip for that lean and lanky loot Bottoms to fit over a western Sizes 29 to 40 Riders PAIR TEXAS RANGER MATCHING Sturdy cot ton dull to siund up to hard Pants sizes 30 to 46 PAIR Shirts to match Button sizes 15 to 17 EACH Snnp sizes 15 to EACH Tall sizes 15i to EACH Big sizes 17 to EACH YOUTHS PEACE A new creation for the younq man and young Fits snug on the trim thigh to flaring from knee to 2022 inch bottoms Front pocket in patci or thp flap Button through 9 fly 8 to 30 PMR I For Girls and Boys GIRLS COWBOY Fashioned in straight leg and Sizes 7 to C QC Navy GIRLS STRIPE 3button front 2front belt loop Red and Blue QC Sizos 7 lo PAIR YOUTHS FLARE Newly styled in denim Front patch buttonthrough wide wide belt Sizes 7 to 16 PAIR RIDER KING Styled for the lean and lanky Welded plain band with oelt A QC Sizes 2 to PAIR BOYS NEVR PRESS Jeqns Elastic backed belt loops welded 1 front and one baclc Gold onrj Olu A QC Sizes 2 to PAIR 9QC Slirr pii DRiLlERS BRILL PERMANENT PRESS MATCHING polyester and 50C3 cotton blend in easy core fobi Sues 30 Sizes 14j 10 17 to motrh EACH Spruce and Q QO jft QO YOUTHS COWBOY Authentic western srylina and durability styled into every pair of leans preshrunk cotton denim in Rider boat style or slim Sizes 7 to 12 PAIR Sies 13 to 16 PAIR Men Boys Main Floor TEEN NAVY Navy Sizes 8 to MATCHING EACH FRINGE FREEDOM GWG TEEN FLYS FLAPS In new bold Red and Whim stripe and Navy and white O OC Flares Sizes 5 to EACH Girls and Little Main Floor BUY LINE 3288811 SHOP EATONS TONIGHT UNTIL AND SATURDAY 9 TO ;