The Palm Beach Post from West Palm Beach, Florida • Page 47

0 il I'alm Beaih Post-Times, Sunday, Jul 9, 1973-IM Jim Fichip Fischer a Bush-League Capitalist Nevertheless, there is some doubt that Bobby is all that capitalistic. Although his most recent showing is encouraging, he's done little during his career to really make the big buck from the game. For example, I've never seen a chess set bearing his name. And to my knowledge he has yet to write a syndicated newspaper column on chess tips, appear on Merv Griffin's show or even have his most exciting game plans reduced to comic book form for kids. Good heavens, there aren't even any Bobby Fischer T-shirts on the market.

If Bobby beats Spassky for the world championship, we can all be quick to call it a triumph for capitalism. If he loses, however, let's remind the Russians thai as a money-grubbing capitalist Fischer is a bush league amateur. PHOENIX Bobby Fischer's successful demand for higher stakes before agreeing to meet Russia's Boris Spasskv for the world champion chess title has Soviet citizens calling him a "money-grubbing capitalist." That changes the complexion of the 24-game match. What originally would have been just another championship series is now an intellectual showdown between Russian communism and good old American money-grubbing capitalism. That being the case, the United States is fortunate to have a Fischer to carry its ideological colors.

He is more than a phenomenon at chess he is a phenomenon in a country that ranks the game right up alongside tiddlvwinks in national importance. Put another way, America's coming up with a Bobby Fischer is akin to Japan's chances of producing a world heavyweight boxing chamn Art Uuchwald SUNDAY, MONDAY OPEN DAILY 10-10 SUNDAY, 11-6 Demo Convention Scenario: The Compromise Choice Is WI MOWO ytrA Jafjfir'ti aimi Wi ywv IANK IS AMFtlCAID TOO' one who had not date had to be found -already been nominated. Will II Mil I Yry 7 I I Vri I UiVL vuvC WASHINGTON Everyone has his own scenario for this week's Democratic National Convention. The way things have been going with the party, one scenario has as much validity as the next. This is the one that I have written and if it comes true, remember, you read it here.

It is the fourth day of the convention and the Democrats have been unable to decide on a presidential candidate. The fight to seat delegations has taken up three days and those people who were ruled ineligible have refused to give up their seats to those who were officially designated as delegates to the convention Almost every stale delegation has two people sitting in every chair. No one dares leave the floor for fear that someone will grab his seat. On the first ballot McGovern picked up 1,234 votes, well shy of the 1,509 he needed The rest were split between the other candidates with the uncommitted refusing to vote for anyone. The second and third ballot found no one budging.

By the tenth ballot of Wednesday's all-night session, the convention was hopelessly deadlocked. On NBC, John Chancellor and David Brinklev became short-tempered and refused to talk to each other Howard K. Smith and Harry Reasoner on ABC were also not speaking to each other, and on CBS. Walter Cron-kile wasn't talking to himself. It was obvious to everyone in and out of the convention hall that a compromise candi But who? The Democratic party leaders call a recess behind the podium.

They argue and thrash it out for several hours. The only man whose name is proposed as the compromise candidate is a very famous, but controversial, figure on the American scene. He has announced many times that he is not a candidate for the presidency or the vice presidency, and has said under no conditions would he accept a draft. Yet. the leaders argue he is the one person who can save the party.

This young man, whose name had been associated with a very embarrassing incident, is a household word now. Because of the deadlock at the convention, he is the only one who can possibly beat Richard Nixon in November. The compromise candidate is not at the convention. He has purposely stayed away so people would believe he was not interested in the nomination. O'Brien puts in a call to him.

Everyone, in turn, gets on the phone and tells him he has to be the candidate. The compromise candidate speaks to George McGovem. Humphrey. Muskie and Wallace. They urge him to run The candidate finally agrees to a draft and says he will take the next plane to Miami.

And that's how Bobby Fischer, the U.S. chess champion, became the Democratic presidential nominee for 1972. AUTO I M' MRTY PERK WWNWTON 1 BABYDOLL SETS 1 SCATBACK FLARES if i S' I i $Sm 1. L-J 278 2.96 i Brews 10.22 cups o( VTWSC0pSlf Waltz long or mini gowns, vorful coffee and then xfc 'Me9-8''8: Slims 8- 0 9 2 babvdolls. S-M-L, 42-48.

Sj keeps it hot automatically. Dlnnii73, Shop and save of mart. 'J'irJ HarVeSt 9'd' PPPy' aV" -jjlffl C. L. Sulzberger Gold and Europe's Crisis the remedy for a situation that has now become even more critical.

He suggested the price of gold be doubled from $35, which it was at the time of our conversation, to $70 an ounce. Since then there have been two small steps in that direction. DArif rtC EDEETCD FOOD CONTAINERS I s' tt' OPERA GLASS LONDON Four years ago, when he was still president of France, Gen. De Gaulle told me: "Now the United States does not want to change its policy on gold and it is doing everything possible to continue that policy. It is lending to other banks and trying to conserve as much gold as is possible in its own stocks.

The consequences is that the United States has too many dollars which it doesn't want to keep at home. "It wants to send these abroad, to export them as loans and investments, in order to avoid an excess of dollars at home and consequent inflation. This export of dollars is used to buy up European enterprises while protecting you from inflation. Of course this is inconvenient for Europe. "In France we have no desire to see the United States embarrassed and we would derive no satisfaction from such an event.

The only thing we want is to see a healthy and normal economic equilibrium established there." De Gaulle tended to simplify WALL CABINET ii Nlllij fft jLf JLf tLff y'jlkTll Plastic containers keep food 'Hpl I I fresh. Choose 1 0-pak of pints. 8- ji iif" y. Save 37 -Aj IJ94tf pakofl ofqts. Save! rAin rrrt rram mirror, shelves.

'ft JbtiiiH ijiiljtjtjtflp: glass folds into pocket. Later in 1968 the Central Bankers, meeting in Frankfurt, established the two-tier price system for gold, keeping its monetary level at $35 but letting its commercial level (jewelry, etc.) float upward. Then, last year, the monetary parity was hoisted by Washington to $38 an ounce. But these moves were not enough to help the world out of its fundamental slough. De Gaulle's theory was that by doubling the price of gold the United States would double its assets and halve its debts.

In 1962 official U.S. gold reserves totaled $16,950,000,000. Now they have slid to Europe's reserves have steadily climbed so that it holds about half the world's stock but it also has some $23 billion in unconvertible U.S. dollars. The old Gaullist idea that Washington should resign itself to doubling the price of monetary gold nonmonetary gold already approaches that level remains popular among many Frenchmen.

But any appeal this ever might have had in the United States has diminished with melting bullion reserves. Moreover, there just isn't enough gold in the world to finance the immense boom in trade. De Gaulle's thought was really to use gold as a means of forcing the United States to adopt a stable external monetary policy. Gold will probably have to slip upward again but the world must accustom itself more and more to such artificial devices as special drawing rights and perhaps other substitutes for the yellow metal that is in short supply. The eurodollar already plays an ever-increasing role in international finance, somewhat like that of sterling before 1939.

All this relates directly to the current crisis in Europe, represented by Britain's decision to float the pound. But this alone, with its immensely important political ramifications including the Common Market's future, is only symbolically related to gold. The world has moved far from the little golden calf before whose altar it once worshipped. Today's difficulties stem from an explosion in world trade and living standards which require immense quantities of money to finance them. In a sense, the money has to be "invented." The combination of cause and effect has produced a movable inflation that shifts from one to another country.

The fear that really obsessed De Gaulle was that either the United States would export its inflation abroad or, failing that, be consumed by it at home. The United States has somehow distributed so many billion dollars overseas that the outside world is stuck unless a more disciplined American external monetary policy is devised This is at the heart of British Prime Minister Heath's problem; also, ultimately, of President Nixon's. MEN'S LEATHER SANDAL MOSQUITO COIL HIP BOOTS GASOLINE CAN HAND CLEANER 62 091 2 DAYS REG. 4.97 1.08 (tfjifj 7.88 3 -fVn, Leather 4-band sandal (or fit, comfort and good Just light and forget it! Steel shank, cleated sole Gallon-size can. Keep a Dissolves dirt with or looks.

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RESGfc Company 1r li i i a Shot of the U.S. Dollar Like Europe, It Ain't What It Used To Be".