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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - September 3, 1971, Lethbridge, Alberta 14 _ THE IETHBRIDGE HERALD Mdoy, Jlplembir 3, 1971--------------- Make Canadian goods more competitive Chamber head advises government to devalue its dollar By JAMES NELSON 1 -Mr. Pepin told reporters he OTTAWA. (CH! Canada 11 i s t e n e d to Mr. Archibald's should devalue its dollar to make Canadian goods more competitive with the United suggestion with interest, and asked how devaluation could be achieved, and at what level the States ill U S. and world mar- dollar should be set in mlcrna- keU says Uic president of thejtiona! exchange markets. Mr. Canadian Chamber of Com- Archibald said he didn't have merce. Gordon Archibald gave this advice Thursday to Trade Min- ister Jean-Luc Pepin at a meet- ing of representative business- men called by Mr. Peppin to dis- cuss the a d d i t i o n a 1 United the answers. The Canadian dollar was pegged at 92.5 cents in U.S. funds unlil the end of May, 1970. Since then it has been floating in international exchange mar- kets, rising recently to about 90 States import duties imposed cents. 15 A clreaper Canadian dollar in Mr. Archibald, president of Maritime Telegraph and Tele- phone Co. Lid., Halifax, said his proposal for devaluation was a personal suggestion. The cham- ber as a whole has not had time to come lo a conclusion on how the import surcharge should be exchange markets would make Canadian products cheaper for foreign buyers, and raise the price of imports in Canada. FORCED INTO FLOATING The government was forced to let the dollar float 15 months ago became, Finance Minister Benson said, the country could Moon coins offer sale questioned WASHINGTON (AP) A private firm's offer of coins said to contain silver taken to the moon's surface on a U.S. space flight has been ques- tioned by Chairman Lconor K. Sullivan of the House of Rep- resentatives consumer affairs subcommittee. The Missouri Democrat said she was told by the space Cable TV makes debut at Calgary rVVLGARY fCP) Cable tel- evision made its debut in the city -with about homes get- ting the service. Calgary Cable T.V. Ltd., which serves the northern half ot the city, official opened its operation with about sub- scribers. Community Antenna Televi- sion Ltd. at the same time be- gan service to the southern por- tion. Both systems carry the local CBC and CTV programming, CBS from Spokane, a U n i ted Slales educational station KSPS from Spokane, FM ra- dio, continuous time and weath- er information and the CBC Fi ench network from Edmon- ton. To be added are educa- tional channels from Edmonton and Calgary and local commu- nity programs. Lines are still being installed and service is not expected to be available throughout the raty for about two years. Kaiser post filled by Conger VANCOUVER (CP) Harry M. Conger has been named vice-president and general manager of Kaiser Resources Ltd.. it vas announced by Gra- ham 11. Dawson, vice chairman of the board. Succeeding Mr. Conger as j __________________ vice-prosdir-nt, operations, is; Lome H. Hunter. FIRST Mr. Dawson aiso announced i that Ward P. Popenoe has been Gaslighting may have been named vice-president, adminis- used first in China in the lOlh tration and controller, and Eer- century when natural gas was nard E. Olsen becomes vice-1 captured in bags or bladders as president, sales I it escaped from the ground, agency the metal, involved in a promotion by the private Franklin Mint of Franklin Centre, Pa., didn't go to the moon at all. But it did circle the moon in the Apollo 14 command module. M r s. Sullivan exchanged correspondence with the space agency about the pro- priety of providing earth- moon transportation for med- allions intended for private use. Mrs. Sullivan said she re- ceived from the Franklin Hint an invitation to join its Collec- tors Society, at a cost of 59 for 18 months, and to receive a memento described in an ac- companying article as "the first commemorative pieces ever struck by the Franklin SIM from silver that actually landed on the moon." She quoted the advertising as saying the coins were to be struck from a batch of ster- ling silver into which was to be melted a number of med- als carried by the Apollo 14 crew. .WROTE TO AGENCY Mrs. Sullivan wrote the space agency that she had re- ceived inquiries as to whether the space agency sanctioned carrying such medals on a mission "when every drop of water, morsel of food and equipment must be con- trolled as to weight.'' Slie said the space agency replied; "There was a per- sonal arrangement between the crew of Apollo 14 and the Franklin Mini whereby 200 of the coins were carried in the command module, not the lunar lander which went to the moon's surface, and of which 150 were retained by the crew for their personal use. "The remaining 50 were re- turned to the Franklin Mint with an understanding be- tween Astronaut (Alan) Shep- ard, the commander of the mission, and the Franklin Mint as to their future use." The space agency also told Sirs. Sullivan that Shepard al- ready had complained to the Franklin Mint that its promo- tion violated an understanding that the medals not be used to promote new memberships and that the coins were being advertised as having "landed on the moon." NOTICE The Public is invited lo meet with Ihe City Coun- cil lo discuss matters pertaining lo Civic Affairs. Any person interesled in making statements to or asking questions of Council may appear at a Public Meeting to be held in the Council Chamber on Tues- day, Srntnmbor 7, al 7 p.m. JOHN GERLA, (.ily Clerk. not to keep borrowing funds to buy U.S. dollars and hold Ihe value ot the Canadian dollar down. Asked by reporters whether he agreed with Mr. Archibald's suggestion, Mr. Pepin declined to reply, saying questions of de- valuation were Mr. Benson's re- sponsibility, he said. Devaluation, if it could be achieved, would run counter to the United .States view that world currencies should rise in value in terms of tile U.S. dol- lar. This, in effect, is devalua- tion for Ihe U.S. dollar. Mr. Pepin called the closed meeting of his businessmen's advisory council, with Mr. Ar- chibald and some others as in- vited guests, to discuss the im- pact of the U.S. tariff increases and explain how Canada had asked for an exemption. A. T. Lambert, xcsidcnt of the Toronto-Dominion Bank, said that Canada liad put up a good ease in Washington, and had not gone "cap in hand" seeking a favor. In addition to devaluation, other suggestions made to the government by tlie business men, M.r Pepin said, were mea- sures lo prevent the Canadian dollar from rising higher in in- ternational markets, and plans to compensate industries hit hardest. Tho businessmen were gener- ally agreed that Canada should not take retaliatory action, but should prevent other countries from redirecting their export drive into Canada for goods they cannot get into the United States. Prime Minister Trudeau is to make an announcement on Can- ada's intentions when Parlia- ment resumes its 1971 session Tuesday. Mr. Fepin said the picture painted by some of the business- men was sad." If the surcharge remains in effect for many months, it could mean lay-offs, plant closings, corpo- rate dissolutions, or even some firms moving to the United Slates. "The government can't con- template he said. Robert Bonner, executive vice-president o f MacMillan Bloedel Ltd., Vancouver, said some assistance should also be given firms which have been hurt by the upward valuation of the dollar in exchange markets during the past 15 months. Forest product companies, such as MacMillan Bloedel, have been hurt. Selling in U.S. dollar terms, they have seen their Canadian returns shrink with the narrowing of the differ- ential between the two curren- cies. Mr. Bonner said the needed hell) could be provided by vary- ing corporation tax rates, lower- ing machinery import tariffs, and allowing more generous lax write-offs for new plant and equipment. THE BORDER PATROL THEY'RE WATCHING YOU. So you ihink if would be easy to slip across ihe undefended border between Canada and the U-5. Well, think again, Aboul the border patrol and ihe walch they keep on Canadians. And how a simple vocabulary tcsf can trip up illegal immigrants. You can read abou) it in They Guard the Undefended Border. IN YOUR LETHBRDIGE HERALD WEEKEND MAGAZINE simpsons-soars SATURDAY WEEKEND BARGAINS FOR BUDGET MINDED SHOPPERS-DOORS OPEN AT 9 a.m. Ladies' Bra Special Assorted styles in a wide range of sizes, SPECIALLY REDUCED Better Quality Bras Our regular slock in sizes 32 to 40 J) A A A lo D. Reg. to Citt Ladies' Transitional Dresses Easy care woshablcs in sleeveless jersey and polyeslers. Prinl or plain 8 lo 13. Q QQ