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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - October 26, 1971, Lethbridge, Alberta 1971 Benson: Canada continues to float dollar HAVANA i llcutcrl Cuban j American Medical Association Premier Ficlrl Ciislro is not ill, snys. ronti-ary I" iiuiilished reports, j jind ho' visited a village under I IMiilip W'.vlic, (lie oonsmiclmn I ho other (lay, whose book, Generation of Vip- official newspaper Orannia ers incensed American women >aid today. in HH2, died in Miami of a A front-page story with j heart ailment, He was 00. photographs describi'd Castro's1 A noted conservationist who j warned against the dangers ol i world wide population, Wylie caused a furore in 1W2 when lie coined the term in describing the behavior of I women who dominate their sons. In Generation of Vipers, Wylie claimed American moth- ers had established a tyranny over the intellect and wills of their sons and that the United States was centred around mother worship. His former lawyer says James Earl Ray allowed him- self to be captured and sen- tenced for the assassination of Negro civil rights leader Dr. Martin Luther King Jr. be- cause he expected to receive a presidential pardon from George C. Wallace. Percy Foreman, who wag Ray's lawyer when he pleaded guilty without a trial to the murder charge, said Ray ex- pected the Alabama governor would be elected president of the United States in 1908 and that Wallace would grant him a pardon. OTTAWA (CP) Canada's policy of letting its currency float freely in international ex- change markets has not changed, Finance Minister E. J. Benson said in the Commons Monday. Replying to questions by Op- position Leader Robert Stan- field, Mr. Benson also denied that deputy finance ministers of the Group of Ten, the world's leading finance countries, had suggested a general 10-per-cent rise in world currencies in rela- tion to the U.S. dollar. The deputies of the 10 coun- the U.S., Japan. Britain, Sweden, Belgium, France, West Germany, Italy and the in Paris last week. They analysed the world cur- rency exchange problem cre- ated by President Nixon's ac- tion Aug. 15 in freeing the U.S. dollar from its old lie with gold, and imposing a 10-per-cent of the size of the problem, not a recommendation that that much revaluation lake place. NO PRESSURE ON DOLLAR The Canadian dollar was let float in June, 1970, from its old extra duty on manufactured goods. Mr. Benson said one of the i terms. The Canadian dollar has problems facing the 10 was lo i recently floated upwards to peg of 92.5 cents in U.S. dollar decide how large a balancc-of- payments deficit the U.S. faces on a long-term basis. The U.S. has said it needs a billion above 99 cents in U.S. funds. This, Mr. Benson said, reflects market demand and is a "free with the finance depart- reversal of its payments deficit, j mcnt not putting pressure on Other assessments have placed j the market to keep the dollar Ihe deficit at only billion. If action was needed to cor- rect an U.S. deficit. Mr. Benson said, a 10-per-cent upward revaluation of other currencies would be necessary. This, he said, was merely an as- sessment by the Group of Ten down. Mr. Stantield asked about re- ports that the government had intervened heavily in the ex- change markets massively to- wards the end of last week to keep the dollar below its true market value. Mr. Benson would not reply directly, but said "our policy has not changed." The Bank of Canada lowered its interest rate Friday to 4.75 per cent from 5.25, the rate which had prevailed since last February. Mr. Benson said the lowering of the bank rate by the Bank of Canada was another indication that "we support lower interest rates in Canada." George Hees Ed- former Con- Need cardboard More than 18 million tons of liner and seven million tons of containerboard will be required to meet United States domestic and export cardboard needs in 1980. servative trade minister, asked whether the Group of Ten depu- ties discussed the American proposal to encourage U.S. firms to sell more American- made goods abroad. U.S. firms would be given special tax ex- emptions if they would set up domestic international sales the pro- gram its name, DISC. Mr. Benson said the DISC plan was discussed in Paris, and Canada had made separate representations to Washington against it. Mr. Hees asked whether the U.S. had indicated the DISC plan might be withdrawn. Mr. Benson said there hasn't yet been an indication the U.S. Se- nate will pass it. The House of Representatives has passed it. MR. BENSON No policy changt PREMIER CASTRO In good bealtli The village of Vallauris, France, which Pablo Picasso visit to the village in Jibacoa, some 40 miles east of Havana.. The article was seen as an j made famous with his pottery indirect denial of a report by and to which he returned to be the London Telegraph that Cas- tro was seriously ill with a bronchial ailment in Havana's naval hospital. A Scottish woman who re- cently donated a kidney to her ailing son in Canada said in Edinburgh she is delighted to learn he is back at work al- ready. Effie Smith, 52, made her comment after an Edinburgh newspaper printed a transat- lantic telephone thank-yon from 2fl-year-old Arthur Scott her son by a previous marriage in Winnipeg. Mrs. Smith, who flew to Win- nipeg last month for the trans- married to years ago, threw a mammoth party for the artist's 90th birthday. Tributes to Picasso and the artistic genius that has raised him to top rank among his con- temporaries are being organ- ized all over the world. Picasso, who attended a simi- lar festival marking his 80th birthday in 1961, ignored the celebration. He remained se- cluded in his villa Notre Dame de Vie, at Mougins two miles Note for Jennifer O'Neill fans filming has started on SIGH'S A Case of Need, in which Miss O'Neill co-stars plant operation, said: "f am j with James Coburn. One of the thrilled. I knew it wouldn't take him long to get back to normal again.'' Five sons who are doctors have paid tribute to their Ital- ian immigrant parents by awarding them honorary medi- cal degrees at an elegant din- ner dance in New York. The family of Mr. and Mrs. Vincent Baratla is believed to he the first in the United States with five sons all of whom became doctors, the i benefit. best things about The Summer of '42 was Jennifer O'Neill; here's hoping she is as lovely and nice and beautiful in this new film. The external affairs depart ment has purchased of Canadian art works from the Canada Council. The council will use the money to buy more Canadian art. Seems to make sense. At least Canadian artists will Let Royal Trust give you a guaranteed income. Guaranteed annually on 5 year deposits Member, Canada Deposit Insurance Corporation Royal Trust D 740 4th Ave. South. Lethbridge, Alberta Phone 328-55lo T h j.irlOB rfOV v i- C A rAor ,doV ,W ,W ft i YOUR CHOICE OF TWO GREAT CARPETS AT ONE LOW PWCB Square Yard Sculptured Carjwt ....inured car mally Retailed at Vd> rr-M OVER FRum uvctv Nv'ion Carpet oronge- Special Square Yard labor. Special Square Yard of care. a of care. 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