The Ogden Standard-Examiner from Ogden, Utah on October 4, 1971 · Page 9
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The Ogden Standard-Examiner from Ogden, Utah · Page 9

Ogden, Utah
Issue Date:
Monday, October 4, 1971
Page 9
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New Hope Emerges From Conference On Currency Values THE GIRLS By Franklin Folger By STERLING F. GREEN •WASHINGTON (AP) — The US-nation conference of finance - ministers has produced a bhie- - print for rebuilding the shattered structure of world currency values. , "When the governors of the In'.- -ternational Monetary Fund and the World Bank adjourned their - five-day annual meeting here ; Friday, snapped shut their briefcases and headed for the airport, they were a happier lot - than -when they came. They had agreed to agree. - They had broken the seemingly hopeless deadlock of the mid- September meeting in London ,, of finance ministers from the non-Communist world's 10 richest Dafions. FAR FROM OVER The crisis is far from over. There is hope—only hope so far—of a solution by the end of the year. The 118 countries have adopted unanimously a "work agenda" for action this fall. Even that solution will be a temporary one. It can buy time for the longer, harder task of reforming the. whole international monetary system to provide a dependable framework for expanding world. trade, ments. investment and pay- This may take a year, or two, or three, "in. effect, it means ..^ doing all over again what the jj ave •embattled non-Communist na- „ tions did in wartime urgency at the Bretton Woods, N.H., conference of 1944. Some emerging outlines of the new structure became visible last week in the ceremonial sessions in the splendor of the giant ballroom of the Sheraton Park hotel: DEMOTION OF GOLD —Dethronement of the dollar as the monarch of currencies. Other nations will cease to value their money in terms of dol- —Demotion of gold .as the basic value standard for currencies—the role-it has'Occu- pied since before history. —Elevation of paper gold— probably the IMF's "special drawing rights," or SDRs^to displace gold or co-exist wrm gold as a new reserve asset. The SDR could replace the dollar as the new yardstick of currency values; it would be usable by governments as the backing for their currencies and a medium for paying off their international accounts. The Bretton Woods agreement had provided the financial base that helped the non-Communist nations outstrip the Communist bloc since World War n. STABLE YARDSTICK The U.S.-dollar served as the stable, ever-reliable yardstick by which other currencies values were gauged—so many yen, so many marks, so many lira to the dollar.- Reliability was lost when the United States, financing the defense of Western Europe, aiding developing nations and fighting in Southeast Asia, found itself unable to correct a deep, growing deficit in international payments. President Nixon stepped in on Aug. 15, slamming shut the gold window. He suspended the American promise to pay out gold, at the historic $35-an- ounce price, to airy foreign government presenting dollars for exchange. Shock wave and resentment rocked the non- Communist world, but by the end of last week's conference emotions had cooled. Many if not all the nations at the IMF meeting could endorse the diagnosis given by the British chancellor of the exchequer, Anthony Barber: "The problems faced by the United States administration both as to the balance of payments and as to the domestic American economy are immense. Here is a nation which over the years has shown a generosity unparalleled-in history They (Americans) are now entitled to. look to their friends, and to call for a common solution to a common problem." ' ___ Ogden Standard-Examiner, Monday, October 4, 1971 9A U.S. Withdraws Seven ArmyUnits "Did we ever have an enjoyable club meeting — the guest speaker on diet and exercise couldn t make it." _. Black Congresswoman Will Dare To Enter the Presidential Race CHICAGO (UPI) — The odds that. Shirley -Chisholm will ever be elected President of the United States are long, but the black congresswoman from New York says "only Almighty God and my conscience" will stop her from trying. Mrs. Chisholm, a Democrat, said Sunday she will make the race. . "without seeking any- aody's endorsement." . : Yes, it's true that I dare to „. „, courage, to jay I will consider running for the presidency," she said. She warned her "black brothers and black politicians to "get off my back," an apparent reference to her differences with male black political leaders. The formal announcement'of her candidacy will be made on Mrs. Chisholm spoke at a "Women's Day In Politics" workshop • at the third annual Black Expo, a commercial dsplay .of black-owned businesses, sponsored by Operation Breadbasket, the economic arm of the Southern Christian Leadership Conference. It was .her first appearance at Expo, despite a series of "black caucuses" held throughout the week and attended by black leaders and black politicians from across the country. Mrs Chisholm's absence sparked rumors that the caucus and she were at odds over black political strategy for 1972. Her Wast at black male political leaders Sunday seemed to confirm it. Without naming names, Mrs. Chisholm said she has caught "hell the last few months" from some people. brothers please stop criticizing me. Before you do, ask me ... Shirley Chisholm is tired of some of the things thrown her way Newspaper Boy Day Proclaimed WASHINGTON (UPI) -Oct. 15 has been proclaimed National Newspaper Boy Day by President Nixon. In issuing the "Stop misunderstanding Shir- Nixon said the lev Chisholm," she said. "All Her canuiuacY wui ue indue vii «;,* >«.«.-"..*«.«•*-» ---~ —— New Year's Day she said, and!I'm about is bringing something she will enter primary elections to the struggle ... brothers . . _i_!__ wlft^ca ctof nFf mv nflPK honor newspaper boys for "their significant contribu- in four states. please get off my KEY BISCAYNE, Fla. (UPI) —President Nixon, rounding out a four-day work-and-play weekend, today-.resumed his search for..two new 'Supreme Court justices 'on "the .opening day of the ^court's new term. Nixon Resumes Search For Court Appointees proclamation day would to the civic, economic States." good of social and the United SAIGON (AP) - The U.S. Command announced today the withdrawal from combat of seven-Army units including the battalion that figured in My Lai. The command said the pullout involves 3,215 soldiers, the third highest number in any single day since President Nixon's redeployment program began in 1969. . Spokesmen also said 1,400 Americans were withdrawn from Vietriam last week, reducing over-all troop strength tb| 212,500 and leaving 28,000 morel to be pulled out by Dec. 1 to reach Nixon's withdrawal goal of 184,000 men. NEXT TWO MONTHS This means the cutback will have to average 3,300 a week for the next two months. The. units marked for withdrawal today are two artillery battalions with 1,025 men from military region 2 and two infantry battalions from the U.S. America! Division in coastal military region 1. Deactivation of the latter two, totalling 1,840 men, reduces to 25 the number of maneuver battalions still in Vietnam, compared to the peak figure of 112 in July 1969 . One of those salted for deactivation is the 1st Battalion, 20th Infantry, of the Americal Division's llth Infantry Brigade, along with the .30-man brigade headquarters. Charlie Company, 1st Battalion, 20th Infantry was the unit that invaded the coastal hamlet of My Lai 4 on March 16, 1968, the day of mass killing of civilians. The men who were at My Lai then have long been replaced. PLATOON LEADER Lt. William L. Galley Jr., convicted of murdering 22 persons at My Lai, was a platoon leader in Charlie Company and Capt. Ernest L. Medina, acquitted on similar charges, was its commander. . Col. Oren K. Henderson, now facing trial on charges of trying to conceal the incident, was commander of the llth Brigade at the time. . As the 1st Battalion, 20th Infantry and the llth Brigade headquarters are deactivated, the U.S. Command said, the brigade's remaining -two battalions will be assimilated into other brigades of the Americal talion, 41st Infantry, which was Division. [the 2nd Infantry Battalion One will replace, the 3rd Bat- marked for deactivation. •_-_ Researchers Looking for 'Pot 7 Smokers \ * LOS ANGELES (AP) Wanted: .student volunteers for research project. ''Assignment: smoke marijuana—-legally and for money. The ad in the UCLA student newspaper prompts about 100 calls a week to the • school's Neuropsychiatric Institute, | which is conducting a. study of| the long-term effects of marijuana smoking.. The one-year project headed by Drs. J. Thomas Ungerleider and Ira Frank will use cflbout 120 volunteers before it is concluded next June. "Basically what we're trying to do," says Frank, "is evaluate marijuana as a drug in the same way any other drug would be evaluated. EMOTION, HYSTERICS \ "We want to be as objective as possible ... apart from all the emotion and hysterics that are usually associated with marijuana research." The project, financed by a $250,000 grant from the National Institute of Mental Health, uses marijuana provided by the federal government. \ The volunteers must be males over the age of 21, with previous experience with marijuana ranging from none to heavy usage. Pay ranges from $50 to $500 j for up to 30 days of supervised marijuana smoking. CONSTIPATE DO DUE TO LACK OF FOOD * BULK IN YOUR DIET • TRY.. _.. BRAN # BUDS' The Renault 10 doesn't race like a Fercari but it brakes like one. Like Ferrari and other racing car?, the Renault 10 depends on 4 wheel disc brakes. No fade is why racing cars use disc brakes and Renault 10 uses them for the same safety. Disc brake pads also are easier to replace. Now, since Renault 10 will brake like a hi-powered racing car, that puts it in the same class as Ferrari when it comes to safe stops. And for'under $2,000 if you can't afford to race like a Ferrari, you can at least stop like one. RENAULT' - RAY CITTE INC. ; ;: 4175 Riverdale Rd. 394-884% The President is mulling over ^ economic policy he candidates for the high court seats vacated by the late Hugo L. Black and retired John M. Harlan. Their appointments will be Nixon's third and fourth to Nixon arrived at- his Florida compound ..late Thursday night and was to fly back to Washington 'this afternoon. Ziegler said the President spent the weekend considering will the nine-justice court. court at the critically beginning With "the short-handed — — --=, ^ mi of its year, Nixon's appoint-1{ 0 ment timetable was set back adopt following the current 90- day wage-price freeze and reviewing the Supreme Court situation. Nixon also kept in touch by telephone with' developments in the longshoremen's strikes which closed ports from coast Saturday when Rep. Richard H. Poff, R-Va., asked that his name be withdrawn from consideration. . Poff had been the front runner for one of-the vacancies before he took himself out of the race. Nixon had hinted strongly that the conservative congressman would be named. UNDER CONSIDERATION White House Press Secretary Ronald L. Ziegler confirmed that Poff had been under active consideration. "The congressman's decision means there is one less qualified person for the President to consider for appointment to the 'Supreme Court," FREE RELAXED,TOO But the President took time out for some relaxation as well. On Saturday he flew by helicopter to Grand Cay in the Bahamas, the private island retreat of his friend, New York industrialist Robert Abplanalp. 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