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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - November 30, 1974, Lethbridge, Alberta 36 THE LETHBRIDGE HERALD Saturday, November 30, 1974 Federal treasury overflows OTTAWA (CP) The federal government had a record billion in its bank account Wednesday following an immensely successful Canada savings bond sales campaign, the Bank of Canada reported yesterday. One result is that more loan money will be available. The sales of savings bonds has drawn a large amount of savings into government ac- counts and the government in turn has put money into the chartered banking system, making it available for loans The savings bond campaign, which ended Nov. 15, increas- ed the value of savings bonds outstanding by billion. Total value of savings bonds outstanding on Wednesday was billion. The government's cash total went from billion two weeks ago to billion on Wednesday. The current total is more than double what has been considered normal in recent years and the peak comes after a period when balances were unusually low. The low total for this year was about million in mid-May. BONDS POPULAR The popularity of this year's savings bond issue was due to its interest rate. The bonds came on the market as interest rates were falling and there was a rush to buy on the expectation of rates for other forms of securities going down. Thus the money from the savings bond sales which the government is re-injecting into the banking, system provides extra loan money at a time when rates are moving downward. Many par- ticularly for mortgage loans, have been out of the market because of high rates. IF YOU'RE CONCERNED WITH STRETCHING A BUDGET, LOOK INTO YOUR CREDIT UNION! Interpreting the News Walks across Canada Jim Clarkson left his home in Victoria, B.C. last April to walk miles to Newfoundland. Jim arrived at the ferry terminal in North Sydney, N.S. yesterday to catch a ferry to Newfoundland. He should be in St. John's for New Year's and then plans to fly home. INSTALLATION HUMIDIFIERS 1709-2nd Ave. South Phone 326-5973 CAPTURE GANG TORONTO (CP) A squad of heavily-armed policemen surrounded an abandoned building after a citizen reported seeing men carrying rifles and firing shots. The police finally flushed out three boys playing with BB guns. The boys were given a lecture and sent home. Credit Unions are common- sense financial institutions owned and controlled by or- dinary everyday people with their own best interests at heart. You can save with confidence, and borrow con- fidentially. And you have an equal say in the way things are run. Look into your near- est Credit Union, Or clip and mail the coupon today 317-5th St. South IHVIHS no rt A CHRISTMAS SHOPPING PA R T Y 3T 1 ADDRESS i CREDIT UNION FEDERATION OF ALBERTA DECEMBER 2nd a.m. to p.m. SAVtl A SPECIAL WILL BE GIVEN ON ALL REGULAR PRICED MERCHANDISE PURCHASED (NOT EFFECTIVE ON SALE PRICED ITEMS) Nagging issues face PM, Fore By STEPHEN SCOTT OTTAWA (CP) Ensuring continued expansion of crude oil sales was a major thrust by Prime Minister Trudeau when he made his first official visit to Washington less than six years March, 1969. Next week, when he visits President Gerald Ford for the first time Dec. 4-5, he will be explaining why Canada plans to end all oil exports by 1932 and perhaps why the industry that once pressed so hard for rising volumes of exports to the taken from the cheapest now forecasts serious Canadian shortages down the road at sharply-higher costs. Energy and beef too will be agenda items for the leaders of two nations facing sharply- different situations than ex- isted in 1969. But Canadian and American officials here say they agree that the four hours devoted to Trudeau-Ford talks will be largely educational rather than problem solving. Nagging bilateral problems will certainly arise, but of- ficials say over-all global situations will predominate. RITUAL ASSURANCES The prime minister's office sees Mr. Trudeau providing the ritual assurance of Cana- dian friendship proffered in 1969 and again in Mr. Trudeau's second visit to former president Richard Nixon, who made a return visit here in 1972. There will be discussions about NATO commitments and the North American Air Defence agreement due to expire shortly barring another exten- sion. Canadian officials say in- dications from the American side are that Mr. Ford has no particular issue he wishes to bring up. A spokesman for the United States embassy says it is a fair assumption that Mr. Trudeau will be briefed on the recent Ford talks with Soviet leaders in Vladivostok and with other world leaders. The prime ministerial spokesman said it would not be proper for the leaders of two governments to conduct detailed negotiations and that they can talk only on the broad aspects of subjects. In the case of energy, Mr. Trudeau probably will explait- to Mr. Ford that the U.S. has been buying oil in excess of traditional requirements for border state these requirements amount to barrels a day, com- pared with the barrels daily or more that have been flowing over the border. The running down of Cana- dian oil resources probably will be another reason, meeting an expected Ford re- quest for easing the proposals to end oil exports over seven years. U.S. officials have express- ed understanding of the Cana- dian position but are anxious to make the phase-out as slow as possible. They are aware that President Nixon com- mitted the U.S. to energy self- sufficiency by 1980. Canadian officials show no concern over a move by some border state congressmen to get Mr. Ford to ask Mr. Trudeau for modifications of both the phase-out program and the oil export latter the cause of U.S. ac- cusations against Canada of being "the blue-eyed Arabs of the North." Mr. Ford and Mr. Trudeau probably will be able to large- ly bypass the thorny question of meat quota wars by saying that it currently is the subject of lower-level bilateral dis- cussions. Officials of both countries held inconclusive meetings in Washington Wednesday and will meet again. Still another issue that may be touched upon is the Garrison irrigation project in North Dakota that, if com- pleted, will flood parts of Manitoba. One subject that probably will not be more than men- th U.S. auto pact. The surplus agreement in the fii this year and could billion surplus for th NEW SITUATION That's a far diffe ation from 1971 v Trudeau went to W to discuss st Canada and others- Americans were ap overcome their b; payments deficit. At that time, Cam joyed a rare balani ments trade surplus U.S. That included pact. The U.S. wanted cl a "shopping list" w; that indicated th; should be changes ir pact, the defence p sharing agreement free provisions for to The Lethbridge Hcral Circulation Department Invites applications from boys and girls years of age or older as paper carriers the following areas in Lethbridge: 1. Downtown 2. Glendale and Dieppe 3A o (North from Rlilr08d Tracks to9thAve. N.) 4. Northside Please Write or.Phone j i i i Area) 328-4411 THE CITY SUPERVISOR CIRCULATION DEPARTMENT GrOups 2000 acres for LANDS AND FOREST Thinking about tomorro ..toda ;