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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - November 2, 1972, Lethbridge, Alberta Thursday, November 2, THI LtTHMIDOl HDULD 31 He's not your usual parish priest MAKING POINT Gripping musl be the word for the matter under discussion by French President Georges Pompidou. The expressive response, os he made his point, was in answer to a press conference Revaluation of Yen sought Congressman Drinan is something else again By RICHARD HALLORAN New York Times Service TOKYO The pressures on Japan for another revaluation of the Yen have bscome so strong that the question asked in Tokyo today is not whether it will happen, but when, how much and under what circum- stances. Ironically, there is also a growing feeling among foreign andJapanese businessmen here that even another upward shift in the Yen's parities real- ly will not solve the problem of Japan's continually rising trade surpluses and foreign exchange reserves. They point out that the Jap- anese economy is so dynamic and competitive that the trade surpluses and exchange re- serves will keep right on rising until either the Japanese get lazy or other nations get more energetic and compete. The pressures on Japan are coming from all over. Ambas- sador Robert S. Ingersoll of the United States has repeatedly told the Japanese Government that it must cut Japan's esti- mated billion surplus with the United States, revalue, or face more protectionist mea- sures imposed by the con- gress. The British, Germans, French, Australians, Cana- dians and more have made much the same point. The pressures are intensify- ing now because the 16.88 per cent revaluation of the Yen set during the international re- alignment in the Smithsonian agreement last December has had little impact of Japan's surpluses and foreign exchange reserves. The balance of export earn- ings over import spending at the end of September was billion. There is a deficit in so- called "invisibles" such as tourism and services and there is a net outflow of long- term capital. So the over-all balance-of-payments surplus billion is not so large as the trade surplus. But the trade surplus for the year is projected at billion. Grem farm O barn burns Foreign exchange holdings Et the end of last month stcod at billion, up from billion at the end of 1971 and only slightly below the record high of billion in March of this year. That does not, Include an es- timated billion that is re- portedly "hidden" in f o r e i g n banks, United States treasury bonds, and other accounts that are not registered in tire offi- cial holdings. There are rumors here, un- proven so far, that still anoth- er billion is stashed away somewhere, making the total Japanese holdings possibly about billion. Despite the pressures, Pre- mier Kakuei Tanaka has con- he He said last week that "foreign countries have ceased to press strongly for a second Yen re- valuation." But, he conceded, "the gen- eral realignment of currencies last year has not produced the anticipated results, and a sec- ond look is being taken at re- valuation as a means to cor- recting international payments imbalances. After the diet, or national leg- sistently maintained that will not revalue the Yen. islature, mentary five-year considers a supple- budget, defense the fourth plan, and NANTON Recently fire again struck the district and tins time it was the large barn, shed and corrals at the Allen Grcig farm, three miles west of town. Allen had been in the barn a half an hour earlier and hadn't noticed anything unusual. He was working in a building near by when Dale and Vanessa Sladc of High River slopped to say the barn was in flames. The Grcig phone was out-of- order and Vanessa went to summon the fire department. A number of pigs were removed from (lie blazing building but it is thought some were burned. There were nlso Ihree Border Collie puppies and kittens lost in the fire as well as straw bales. The fire spread so quickly the whole building was destroy- ed in half an hour. The fire trucks arrived and kept tiic bla7.e from spreading to any other buildings. The roofs of pig houses were burned and there were burn- ing shingles and debris flying around with the wind. other measures, the premier is expected to dissolve it and set general elections for December. It is assumed that he would wait until after elections be- fore revaluing late Decem- ber or, more likely, sometime in January. Then there is (he question of whether the Japanese govern- ment will revalue the Yen with- out complementary action by other nations, or will insist that there be another international realignment as there was lasl December. A change in the Yen rate alone might put Tanaka In a difficult position at home. The Japanese are experiencing a rising sense of nationalism, a consequent resentment outside political, eco- i nomic. and security pressures, For those emotional reasons, Ihey would object to Japan again being made what many Japanese see as a scapegoat. Even with a 10 per cent re- valuation, which is the figure most often mentioned in Tokyo, it may not make any dif- ference. Two recent authorita- tive unofficial estimates say that even with a 10 per cenl revaluation, the gross national product will continue to grow at over Ifl per cent in the fiscal year beginning next April. The reasons that another re- valuation may not hurt Japan's experts are much the same as the reasons that revaluation has failed to slow export growth over the last nine months. First, Japan's products have won wide market acceptance on quality, no! just price. Sec- ondly, although the Yen is priced 20 per cent higher today than it was before the last re- valuation, export prices have risen only about 10 per cent. The Japanese have absorbed the difference. On the import side, there is a complaint more and more heard here from Japanese bus! By TOM TIEDE BROOKLINE, Mass. Father Robert Drinan would have made a lousy priest. He is impatient, abrasive and cold as a glass eye. His features are harsh, his manner unpredict- able, his personality stunted. I have the says one who knows him well, "that in the confessional he might turn to me and say: 'God Almighty, man, is that all? Get out of here, you're wasting my time.' But as a United States con- gressman, Bob Drinan is some- tiling else. Dedicated, energet- ic, clean, compassionate, knowl- edgeable two years after taking office as the first Cath- olic priest elected to the House of Representatives, Father Drinan is the complete legisla- tor; some believe he's the finest lawmaker in the nation. His record, say colleagues and some critics alike, is a marvel of competence. In Con- gress he has voted 97 per cent of the time, has become (as a freshman) one of the most in- fluential members in the East- ern liberal block, and has carn- the highest accolade (100 >er cent pure) from such Con- ;ress watchers as Americans Democratic Action, Con- sumer Federation of America and the League of Women Voters. Back home in Massachusetts' 4th District, the priest's in- volvement is just as admirable He is home every weekend, us- ually recording constituent complaints through storefrar islening posts (one recent problem, from a woman who was having trouble collecting medical insurance for a retard ed son, was solved when Drinan convinced the agency to fork over in retroactive pay His congression al salary is recycled back to the voters through his office staff (one version has it tha the salary goes to pay "above and beyond" staffers who have been hired to work with distric officials seeking federal aid) Drinan's office keeps voters informed of each of the congressman's votes, spreads the word on district problems via a privately funded newslet ler (on recycled paper, o and books the priest uto every meeting hall, every high school auditorium, ever; sewing circle tea where Ms presence is requested. "He's a real sayi one of his aides, "and he shouli be dipped in bronze. At a time when more and more peopl are getting turned off by the antics of their politicians, this guy is almost too good to be true. Just the other night, fo instance, we held an importan news conference to announc that Sen. Abraham Ribicof (D Conn.) had endorsed ou man. Well, Ribicoff felt the thing was important enoug to fly up here on a Thursda evening even though Con grass hadn't adjourned. Bu Drinan? He wouldn't miss vole in the House if Raque Welch was standing outsid stripped to the waist. Rather ilitics. He says politics, really, n't all scum. Frustrating aybe. Amorphous and confus- g, of course.. But not so dirty to stain everyone it touches: NOT CIIKAP OSAKA, Japan (AP) black leather triangular hat, said lo liavc once belonged to Napoleon I, was put on sale for in this wcslcrn Japanese city, store officials said. than come up for the en In en sakes "Someone once asked me, right out, if I had ever made a vote in Congress that I was ashamed of. I said no.. And that's true. I haven't. I'm not influenced by outside I vote as I see it. ber one time someone wanted me to change my vote on a pro- cedural matter. It was a small side interests. I thing and it really didn't make it. I remem- much difference how I voted. But I didn't change it. I just wouldn't do that." Drinan suggests there are about 100 other House mem- bers who are equally princi- pled, tisan thus allowing nonpar- decency to survive at high government levels. nossmon that there just isn't I (lcnls nnd a1'- Hc t( Mint much from abroad thai the of didn I he? Ihi Japanese want to buy. Close to 70 per cent of Japan's imports nre in food, raw materials, oil, and n few consumer items not made hero, such as Scotch whiskey. Beyond thai, those business- men say. why should Japan buy foreign steel, ships, chemi- cals, auto mobiles, industrial machinery, nnd similar prod- ucts when they can bo had bet- ter and cheaper nt home? dorsement and bask limelight, he stayed Washington, for God to vote on the highway bill." Not everybody, of course gushes over the Boston are priest legislator. His opponen this November, Liberal Repub lican Martin Linsky, feel Drinan votes more for his rec ord than he does for Ms con stituents. Many of the consti uents, also, are irked by wha they consider to be a radica strain in the former Jesuit co lege instructor. "I voted fo him in 1970 because lie wa against the says a Brook line storekeeper, "but now think he's too locked up will the lunatic fringe. He neve passes up a chance to score Ui President. You don't ever hea him say much good about th country. And look at Ms can paign headquarters all kids Now I like kids, but, pardo me, I don't think we should le them lake over." Aside from this many voters feel Drinan is a bit. of a turn- coat. The 4th District is mostly Catholic (although becoming increasingly Jewish) and there still lingers (he sentiment that priests should stick to the pul- pit. "It's not says one woman, "that the Father should be mixed up in dirty political business. All those took a How can he be in For his part, Drinan, 51, mostly b a 1 d, Is concerned only with some of the criti- cism against him. Hc says he ignores the charges that he's not representative of the voter opinion in his district can't think of many areas where the voters and I But he docs dwell occasionally on the controversial aspect of a good priest getting mixed up in bad 1st Great week Simpscpns-Sears Christmas Toy Joyful toy shopping is easy with pur great selection. You'll find our prices just right. Look at them: Easy-curl Kit Hours of fun. 4 ,49 Reg. .49 y; Sale Starter Set 106 pieces. Builder Set 170 pieces. Reg. 0.00 Peg. 1 Fast 'Sure Shot' Hockey Game For 2 or 4 players. 4 V< mile of 'Silly String' Squirt plastic. Drink 'if Wet DolllnToter Washable, curlable hair. "Rain Drops Keep Falling On My Head" 5-pc Steel Construction 4 Set Sale He'll have a super time starting his own construction company...It'll keep him occupied for hours. Set incl. the grader, scooper, scraper and double dump train. All, except bulldozer have couplings and super wide treads. Bulldozer has working treads. Yellow enamel finish. Reg. Toy a) Simpsonr.-So.irs you pot tho linost guaranleo Mtlificlion or money refunded and (roe delivery our sIore-lo-dMf service begins wilri the Mia protects you fivery inch ol tha vrty Quality Costs No More at Simpsons-Sears STORE HOURS: Open Dally 9 a.m. to p.m. Thursday and Friday 9 a.m. to 9 p.m. Centre Village. Telephone 328-9M1 ;