The Ogden Standard-Examiner from Ogden, Utah on October 2, 1971 · Page 4
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The Ogden Standard-Examiner from Ogden, Utah · Page 4

Ogden, Utah
Issue Date:
Saturday, October 2, 1971
Page 4
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Get Speedy OK For World Use NEW YORK (AP) - The most striking result of this v/eek's meeting of the International Monetary Fund was the quiet, ready acceptance oi the concept of a "substitute dollar" as a better way of paying the world's bills. The substitute—it won t matte any direct difference to the cash of -the man in the street but will brighten his future- would be a bookkeeping operation. . , On a world scale, it would Be something like the dollars you manufacture by borrowing from the bank and paying them cut by check. But the substitutes. Special Drawing Rights or SDKs, would be units borrowed from the monetary fund and paid between governments. DOLLAR WEAKENED • ^he idea is not a new one—it •goes back 25 years to the Economist John Maynard Keynes who proposed a similar unit .•* . ,* . .1 « T3i*+- r\f Qgden Standard-Examiner, Saturday, October 2, 1971 STATE GETS MACHINE GUNS dollar has weakened, ether currencies are worth more, and the link betewen gold and the dollar 'has been cut. -As a result, the finance • ministers of 118 countries, meeting in the IMF session in Washington this week, were-ready for the idea. One reason for the quick acceptance is that it provides a way for Washington to reduce the gold value of 'the dollar without the headlines saying the dollar has been' devalued. The dollar could still have its old value of l-35th ounce of good, but it wouldn't be worth that much in SDKs.. The SDR could have two forms. In either, it would probably have- a stated value in gold, but with a proviso that it was not to be used as "a substi- called the late as a '"bancor". But as ore ^ - year ago, anybody •who proposed it seriously would have been called visionary When the SDKs were invented in 1969, to solve an entirely diff«rent problem, their inventors thought they might substitute, B ,.... , ---sometime, long •for the dollar. In the intervening year, future, the POLICE SCHOOL GRADUATES FIRST FEMALE CAMDEN, Ark. (AP) -The -wife of a Benton Presbyterian minister is the "first woman • to graduate • ; irorn the State Police Training Academy. Carolyn S. Stevenson. 29, and her 40 male classmates completed three weeks of 1 'training Friday. CoL George Armstrong, head of the academy, said most of the men in the class "wondered how she would be able to compete and stand up. "She competed very •well," he said. On the firing range, 'Mrs. Stevenson, mother of one child, fired better than 10 of her classmates, he said. . Mrs. Stevenson said she ' will work in the Benton police department as a -juvenile officer and will work with women prisoners. Georgia Halts Arms Race Race relations have been frequently -troubled in the past few years, since the majority jlack voters took control of the County Government and public schools were integrated. UNWIATHEPFOTOCAJT® MIAMI WAtM FORECAST—Shower activity wffi occur over the upper Mississippi Valley and fromTaltemTexas northeastward through portions of the Gulf coast the Ohio TenneLee valleys and Mo the lower. Lakes area. Rain heavy at tunes. wdl dkated in the mid Atlantic states. Clear to partly cloudy slues should dom- the remainder of the nation. Minimum readings include: Atlanta 64,-Boston sr Chicago 62 Denver 36, Duluth 45, Ft. Worth 70, Jacksonville 69, Little Rock 66 £s Angeles 56, Miami 73, New York 65, Phoem* 56, San Francisco 49 Seattle 47 and Washington 67.-Standard-Bxaminer UPI Telephoto. tute for gold. The SDR could then be defined as 3-1-3 German marks, five shillings, five French francs, 630. yen, and so on. Or it could be defined as 1- 25th of the total value of a mark, shilling, franc and so on. In any event, observers say, it must have at least the mention of a gold value to gain French acceptance. Aside from acceptance of the SDR, the IMF meeting was chiefly notable for its peace- ftilness. Some- of the preliminary meetings of America's trade partners had been frank in opposition to the American trade and monetary policies, But in Washington they seemed to have simmered down. PUSHED IDEA They still want the U.S. to formally devalue the dollar, but they didn't make a point of the demands. And American official? -did not make a point of refusing. In fact, they seemed to push the idea of eliminating gold as a kind of money. An important side effect was a consensus that talks about money were a good idea and Hurricane Drenches North Carolina; Farm Crops Extensively Damaged RALEIGH,.NIC. (AP) - Ginger, the tropical depression hat once was a hurricane, continued to pour-heavy rain on central North Carolina today after causing extensive damage, mostly to crops, near the should continue. "Let's keep the momentum Powell into the said store coast. The National Weather Service said the' storm hovered- near Raleigh all day Friday and was expected to remain in the area until about midday today, then edge slowly toward the mountains of North Carolina and Virginia. Its effect, however, was 'elt throughout the midsections of the Carolinas and Virginia. NO INJURIES In the 24 hours until 3 p.m. Friday, Raleigh-Durham had 2 60 inches of rain, Rocky Mount to the east 2.85 and damage several mil-ter^shocked anyone who used it lion dollars to soybeans, pea-' nuts and corn. Ginger's fury _ caused no .^rious injuries in the Morehead City-New Bern area after coining ashore Thursday. But the rain and high tides she brought isolated several small communities, soaked some homes and businesses, and disrupted utilities. Early estimates put damage in the area at nore than $1 million. One of the hardest-hit towns was Belhaven. Water on its main street rose to more than 4% feet deep before it receded. Rocky Powell's supermarket was open for business Friday but he could only sell items to jersons who had change Dollar Declines In Tokyo Market " TOKYO (AP) — The dollar 'continued to decline on the Tokyo foreign exchange market today, closing at 332.90 yen to the dollar in interbank dealings- down from 33.48 yen Friday. The rate represents an increase of "about 8.14 per cent in the value of the yen since it was floated Aug. 28. "WORD-A-DAY By BACH going," said one German delegate. The next step now is for a fairly low-level group of money technicians to meet during the next too weeks. About the middle of October, they, are supposed to come up with plans for a third step. What they may produce could j be either a schedule of values for world currency or the principles on which the values could be fixed. The schedule, for instance, could give the value of the mark as so many Trench francs, such and such a proportion of the pound ster- ing, so many lira. The lira would be defined as worth so many pfennigs or centimes and so on. The results reported out by these technicians—they are called the "Working Group 3"— will be reported to the finance ministers of the 10 major industrial nations. The ministers will have time to study them and meet again about the middle of November. And if all goes well the world might have its new trade currency working by Christmas. Greensboro to the west 1.21. No heavy flooding was reported in the central section, in contrast to the watery --•- 1J and streets in many along the coast. An agricultural expert at North Carolina State University, Br- Guy L. Jones said fields areas California Takes Castration Law Off State Books ATLANTA Ga. (AP) —091 residents, 80 ffbites and 'blacks in Hancock whom are'black. County, Ga., have agreed' to .eescalate a- budding arms ace, and Gov. Jimy Carter ays 10 submachine guns have >een turned over to the state patrol. The weapons were relinquished by .the white City Council of Sparta,, the county seat, Carter said Friday, and the black-controlled county government promised to cancel an or- ier for 30 submachine guns. And the newly organized predominantly black Hancock >porting Rangers. : which the governor had feared was nol he recreational hunting club it | jurported to be, will be dis- janded, Carter said. The disarmament moves resulted from a lengthy discussion Friday between whites and blacks, during which Carer's special assistant, Cloyd Jail, acted as intermediary. WHITE CITY The governor also said an economic boycott of Sparta merchants called by . county blacks to start today, had been canceled. . Sparta, a mostly white city of water sloshed 2,172 in east central Georgia, is throughout the surrounded by the county's 9,- inOvis were IIUCKJI «.«;«•. - v v ,7 * c , ^ About 95 per cent of the pub- rector of the private Georgia lie school pupils are black, and Council of Human Relations. per cent of i many Sparta whites attend'pri- vate schools. Carter became concerfiedTlast week-when he saw a handbill advertising the Sporting Rangers, organized chiefly by John McCown, a former-, county commissioner and presently di- PAUIBUNYAFS FAMILY RESTAURANT NOW AT, night despite the mopping he and a helper did. "Every time a truck came bj it sent up big waves and jus washed in," Powell said. U.S. 264 leading into the com rmmrtiy had stakes driven alon; the pavement in the one-to three-foot deep water to show motorists where to drive. Gov. Bob Scott asked the U.S. Department of .' Agriculture to arrange for disaster aid and Farmers Home Administration officials prepared to make emergency loans. No exact estimate of the damage is expected for several George'* ' HERMITAGE (In Ogden Canyon) DANCING FRI. AND SAT. "LITTLE JOE AND THE WRANGLERS" Get your favorifo beer and mixer* In THE BIG HALL Friday ond Saturday "BOBBY and JASPER" and the Westerners o. TWO LOCATIONS VISIT US FOR ... * BREAKFAST * LUNCH * DINNER Restaurant 2735 WASH. BLVD. PHONE 392-3437 525 S. STATE, CLFD. redundant - EXCEEDiNG'WHATiSNEEDED; 5UPERFLUOU5;UNNECESSARy TO THE 5ENSE, AS WORDS —Gov. Ronald Reagan has signed legislation repealing a 1913 law which gave the state authority to castrate inmates considered morally degenerate or habitual criminals. His action removed from the statutes an act that was never used, according to the bill's author, Sen. George R. Moscone a San Francisco Democrat. Under the old law, a prison doctor -could have ordered a convict "asexualized" if he had been committed at least twice for rape, intent to commit rape or seduction. Also, the prisoner could have been castrated if he had been convicted three times for any other crime.- A repeat offender would have had to have been found "immoral, a sexual degenerate or a pervert." ATTICA TRAGEDY TO SPAWN NEW VIOLENCE, MENNINGER PREDICTS TOPEKA, Kan. (AP)—Dr. Karl Menninger says the real tragedy of last month's rebellion at New York's Attica State Prison, which cost 42 lives, that it, in turn, will continue to spread violence. . ' The noted psychiatrist, who has been .an advocate or prison and jail reform for many years, said the immediate effect of Attica was to cause security to be tightened up in every prison in the nation. _ Immediately the hate level rose in every pnson, Men- hinger said Friday night. "The sad thing is that many people think this was the right way to handle it." , Menninger made the comments in a speech to trustees of the Menninger Foundation, Topeka Psychiatric Treatment Research, Training and Preventive Center. "Counter violence is never the correct answer to violence," Menninger said. Most of the deaths at Attica came on Sept. 13, when state police, guards and National Guardsmen stormed the prison to put down a four-day rebellion by inmates who had seized control of one cellblock. over troubled waters. TRIMMER DINNER 3 COURSE DINNER Choic. of »oup or »alad, choice of Kentucky chicken or Swlf* »teak whipped potatoes, vegetablei hot rolls with butter/ choice of beverage MNMFE Open for Breakfast fit 7A.M. Dine Till 11 P.M. 1412 Washington Blvd., It's easy to forget that emergencies do happen. And when there is a crisis, you'll need a nest egg to fall back on. The Payroll Savings Plan is one of the easiest ways to make sure you've something saved for when you need money fast. When you participate in the Payroll Savings Plan where you work, an amount you designate will be set aside from each paycheck and' invested in U.S. Savings Bonds. It's an effortless way to build up a reserve. And now. there ? s a bonus interest rate on all U.S. Savings Bonds—for E Bonds, Sy 2 % when held to maturity of 5 years, 10 months (4% the first year). That extra J^%, payable .as- a bonus at maturity, applies to all Bonds issued since June 1, 1970 . . . with a comparable improvement for all older Bonds. Let's hope there are no troubled waters in your future. But remember, emergencies don't always happen to the other guys. Bonds are safe. .If lost, stolen, or destroyed, we replace them. When needed, they can be cashed at your bank. Tax may be deferred until redemption. And always remember, Bonds are a proud way to save. I Take stock in America, NowBondspayabonusatmaturity. TV U.S. Government doe. not pay for tlm .dycrliaernenl, It U pr««nt«i .. .public .ervice in eooi««Uon «>lh The D,p.rtm«nl of lh. Tr«.ury .nd Th« Ad«rl»in« CounoL -.V:

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