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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - September 1, 1971, Lethbridge, Alberta UNIVERSAL. REACTION -Vaccination in any language comes out OUCH! Pained expressions of three young men in Alicanle, Spain, pretty much express the universal re- action to the experience. Widespread vaccination programs in Spain and for tourists visiling ihe country followed an outbreak of cholera In the norlhern city of Zaragoza. Speculators: who are they? WASHINGTON (AP) The I "If we said the German mark phraso "international mone- tary speculators" conjures up an image of shadowy figures who ride the Orient Express, their luggage stuffed with fluc- tuating currencies and gold bul- lion. In denouncing them for "waging all-out war on the American President Nixon said tho speculators are "not the working man, not the investor, not the real produc- ers of wealth." But if you're looking for a real international monetary speculator, try the com- muter train to Larchmont, N.Y. Who are the speculators? "Some of the vast American replied. A. James Meigs, a vice-president of First National City Bank of New York. "The mark of a really so- phisticated corporate treasurer today is to have been right on one of these big currency-rate changes, said Meigs in an in- terview. "It's like hitting a hole in one." When someone hunting for a money speculator thinks he's cornered one, he finds lie has instead "a prudent money man- ager" to use a corporation An official for one of Amer- ica's largest multinational cor- porations, who asked that he and the company remain an- onymous, gave some examples of how his firm distinguishes between speculation and pru- dence. looks strong and the dollar looks weak, so let's buy makrs, that would be pure specula- he said. "We don't do that." What his company and a lot ot other multinationals do is enter into what are called for- ward contracts. For example, he said, sup- pose an American company is buying million worth of ma- cliinery from a (Jerman manu- facturer, to be delivered and paid for in 90 days. "A prudent business man- ager ought to consider the ex- change rate." The American might exam- ine the exchange rate of say, 3.5 marks for and decide that in 90 days that dollar will only be worth three marks. In that case, he would enter into a forward contract under which payment would be at the 3.5-to- 1 exchange rale. Of course, he might guess wrong. Instead of dropping to three marks for the rate might shift to four marks for leaving his company stuck with a less favorable rate. Speculation? said the multinational executive. "Forward cover just fixes the dollar position. You have to look into the reason for the speculation." The problem, he said, was that "the economic facts of life said the currency was not worth what the people who were running the country said it was worth." Details avoided in price freeze WASHINGTON (API The first oullmc of President Nix- en's post-freeze economic pro- gran: will he sketched by Ibc end of September, but it may be weeks later Lcfore it takes final form. A group beaded by Herb Stein, a member of Nixon's Council of Economic Advisers, will be ready by the aid of the month with recommendations on what should follow the administration officials s ii i d. The recommendations then will be siilimitlcd In the Cost of Living Council. The council, headed by Treas- ury Secretary John 11. Connally, will shnpc the recommendations for President Nixon. Olher than to say the wage- price program after I lie must contain some form of con- t r o 1, ndministrnlion officials have carefully avoided details of what will result. TOO KAilLY TO SAY "It's loo early now lo pre- judge what Phase 2 will Dr. Paul AlcCiMckcn, of the Council of Economic Ad- visers, lolri the joint congres- sional economic c o m m i 11 e e Monday, lie said il would a "little less severe tliau (lie freeze we have at the present but "it will have to be something with some clout." N i x o n 's 90-day freeze on wages, prices and renls, an- nounced Aug. 15, expires Nov. 13. McCracken refused to say whether profits would bo consi- dered in the post-freeze rc- strainls, but added that the only way profits could be approached is through "the lax route." A lax on profits, however, would weaken incentive in the econ- omy, he said. As a result of eco- nomic p r o u r n m. McCracken said, jobs will he crcaled and Gross National output of goods and will increase an additional ?15 billion next year. MAGELLAN'S SKULL? MANILA (Renter) A skull recently unearthed in central Philippines is believed lo lie that of I ho Kith century Portu- guese explorer Ferdinand Ma- gellan who discovered the Phil- ippines. Magellan was killed on Maclan Island while nl- lempling to convert Filipinos to Christianity during.the first round tho world voyage. The Lethkidge Herald Third Section Lethbridge, Alberta, Wednesday, September, 1971 Pages 31 38 One i'or whiles, another for blacks Dual justice laws likely to stiffen NEW YORK (Iterator) The killing ejf "Soledad brother" George Jackson is likely to stiffen militant Negro belief that there is a dual system of justice in the United States, one for whites and another for blacks. Militants have already called Jackson's death in San Qncntin, Calif., a prison murder and po- litical assassination. And in him they now see a martyr for their mover1 These developments seem in- evitable despite some recent black militant court victories. One was the dismissal of charges against Black. Panther party officials Ericka HuggLns and Bobby Scale in New Haven, Conn., after a jury was unable to reach a verdict ;n their mur- der trial. Bui tbe militants are not in- terested in occasional victories within the system. They are in- terested in undoing the system. They resent the time they have spent in jail during the trial itself. In some instances, pre-trial proceedings and the black militants have been in jail for more than a year before their cases were decided. Angela Davis, who like all im- prisonee' black radicals is re- garded as a political prisoner, seemed to speak for the militant community when shs said of Jackson's death: "An enemy bullet has once more brought grief and sadness to black people and to all who oppose racism and injustice and who love and fight for freedom. On Saturday, Aug. 21, a San Qucntin guard's sniper bullet executed George Jackson and wiped out that last modicum of freedom with which he had per- severed and resisted so fiercely for 11 years." The belief that Jackson, 29, was murdered could give the black revolutionary movement another martyr. He leaves be- hind a best-selling book iii which he explains the develop- ment of his "revolutionary con- sciousness" while in prison. Miss Davis said the book should be regarded as a primer I for all other "sisters and hrolh- i crs" inside prison who seek their way out. To militants, Jackson's death and the way it' happened were inevitable. Militants view hirn as a typi- cal black ghetto resident ar- rested for the first time at the age of 15, and at the aye of 18 sentenced to one year to life im- prisonment cfler pleading guilty to a robbery on advice of his court-appointed lawyer. Ten years later, lie was still in jail, apparently with no hope of getting out soon. In January, 1970, shortly after a guard at Soledad state prison in California shot and killed three black prisoners, a white guard was pushed to his death from an upper tier in the prison. Jackson and two other blacks were charged with mur- der, and thus the "Soledad Brothers" were born. Davis, a college instruc- tor, began holding rallies to raise funds for their defence. GEORGE JACKSON HUCHELL MAGEE ANGELA DAVIS JONATHAN JACKSON IRTEY NEWTON THE NEW 1972 DATSUNS NOW ON DISPLAY IN OUR SHOWROOM DATSUN 1600 Stationwagon The 1972 Datsun wagon has a maximum speed cf 96 m.p.h. Comes either in standard or automatic. Bucket seats, arm and headrests, carpeting, front disc brakes. The ideal family wagon. Test-drive it at your nearby Datsun dealer today. Datsun 1600 wagon. A little beauty 1hat goes a long way to drive home its point. DATSUN 1200 FASTBACK Depending on how you drive, Datsun 1200 goes about twice as far on a gallon of gas as a standard domestic car. Impressive. But there's a good deal more to an economy car than great gas mileage. What's important is how the car behaves while it's covering all that ground. Datsun 1200 goes from zero to sixty in 15.1 seconds. It's lurning circle is less lhan 27 feet. It's loaded with a list of extras that don't cost extra. And it comes in a choice of Sedan or Fastbnck models. Datsun 1200. It's prelly, il's powerful, it's fun and il's economical. Datsun 1600 4 Door Sedan Datsun 240-Z was named "Sports Car of the Year" _____.____ by Road Tcsl magazine. But if you can't fil your family or your budget into a 240-Z, gel ihe next besl lliing Dctsun 1600. tt doesn't gjvu you every- thing you go? on a 24Q-Z, but you get the Ihings thai mailer. Like a rally-proven overhead cam engine. Il's mare efficient lhan an ordinary engine. And from disc brakes. They're ihe besl, and no one will tell you otherwise. And independent rear suspension. You got brjltor roadholding, belter fraction, and a safer, more comfort a bio ride. Dalsuns provjdo you wilh all Canadian safely and pollution control require- ments. PRODUCT OF NISSAN DATSUN 1600 PICKUP For around half Ino price of an ordinary truck, you get a half-ton lhat will cruise at 70, carry an extra- ordinary am our, I of anything and go a very long way on n gallon nf gas. Far around half ihe price of a domestic truck, you gel a powerful overhead camshaft engine, 6 fl. steel box, 4-speed all syn- clirci-shifl, heavy duly suspension, and white wall I ires. A Dalsun I ruck is built far rugged reliability. So it will go a long way and do a lot of work with- out causing a lot of trouble, withoul costing a lot of money. "DATSUN IS ALL YOU REALLY FOREIGN CAR Corner 3rd Ave. and 11th St. S. (LETH.) LTD. Phone 37.8-9651 ;