Ukiah Daily Journal from Ukiah, California on September 29, 1987 · Page 6
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Ukiah Daily Journal from Ukiah, California · Page 6

Ukiah, California
Issue Date:
Tuesday, September 29, 1987
Page 6
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6 -TUESDAY, SEPTEMBER 29,1987 •THE UKIAH DAILY JOURNAL Reagan backs more world bank lending WASHINGTON (AP) — President Reagan today called for stepped up lending by multinational banks and commercial institutions to assist indebted Third World nations, saying a cooperative approach by both prosperous and poor nations "is the only real answer" to the red-ink problem. Reagan, in a speech to the joint meeting of the 151-nation World Bank and the International Monetary Fund, its sister organization, also renewed his opposition to a tide toward protectionism in the Congress and urged once more the elimination of agricultural subsidies worldwide. "The huge debt burden carried in the Third World is not just their problem," the president said. "It is our problem. And today, let us pledge: We will solve it together." Reagan told the international financiers gathered not far from the White House that the economic pol- ic'r.s his administration has pursued since he came into office in 1981 ought to serve as a guide for debtor nations trying to stimulate their economies. The moral of the Reagan economic story, he told the audience, is that economies flourish under democratic systems where the central government lowers its profile and gives incentives to private business. At the same time, he said, "the central themes of our relations, especially with developing coun- tries, have been, and should continue to be, trade rather than aid, mutual benefit rather than charity, a hand-up rather than a hand-out." the dominating theme of the plan for assistance to Third World nations, advanced by Treasury Secretary James A. Baker HJ, has been that lending activity should be stepped up, but that these loans should be made conditional on the acceptance by the leaders of these countries of reforms intded to spur economic growth. Baker conceded in advance of Reagan's speech that selling Congress on the heightened lending activity by the World Bank will be difficult. 6n Monday, Baker told a World Bank panel that "significant progress" has been made in a 2-year-old initiative bearing his name and intended to help ease the debt crisis of developing nations, particularly in Latin America. But, Baker said, the bank should play an even more active role in the future in helping the major debtor nations. He said the administration supports a proposal by World Bank President Barber Conable to increase annual lending by the organization to $20 billion a year by the 1990s, up from the current $17 billion. "We anticipate that this will not be an easy issue to present to our Congreess," Baker said. "However, Third World countries in debt Brazil •- the Third World country with the biggest external debt at $108 billion - is not paying interest on most of its debt. Instead, the country is trying to persuade creditors to lend it an additional $4 billion a year. Mexico, Argentina, Venezuela and Chile, with a joint foreign debt totaling $210 billion, have recently rescheduled their repayments to many of their U.S. creditors. TOTAL EXTERNAL DEBT AND AMOUNT OWED TO U.S. BANKS, 1987 By country, in billions of dollars: BANK CLOSED Brazil Mexico Argentina Indonesia Venezuela Philippines Nigeria Chile Peru Colombia Ecuador JS22.1 ;:/. t i«3.y J $107.8 $102.0 .-|$».s '[$2.4 $53.0 J$43.9 $34.1 $4.1 $28.1 $0.§ $22.1 •jSt.5 | $21.2 $14.7 $14.7 $9.1 $2.1 Total External D*bt Amount Owod to U.S. SOURCE: F«d*»l R«s«rv« Board InfoGraphics {?' 1987 North America Syndicate. Inc we are committed to press for these funds as necessary to the continued efficient operation of the bank." Conable is seeking an increase of $40 billion to $80 billion in the reserve funds used to support the bank's lending, up from the current $94 billion, roughly 20 percent of which is pledged by the United States. The increase would be shared among the world's industrialized nations. The administration last week withdrew its original objections to the proposed increase and said negotiations should begin after this week's World Bank meeting. Proposals to increase funds for international lending organizations have come in for some sharp criticism on Capitol Hill, given Reagan's repeated calls for budget austerity. Congressional conservatives also have voiced reservations about recent loans made by the World Bank to underdeveloped communist nations. Baker is the chief architect of the so-called Baker plan, unveiled in September 1985, which calls for $29 billion in additional lending to 15 nations, most of them in Latin America, that undertake economic reforms. Of that total, $20 billion was to havcS come from private banks. However, commcrial bank lending to developing nations has slowed to a trickle. On Monday, the IMF's policymaking "interim committee" issued a communique saying it will lake longer than earlier anticipated to case the $1.1 trillion debt burden on the developing world, partly because of sluggish economic growth throughout the world. Last Marine WWII veteran to retire Bork reportedly unmoved by Jew's trauma WASHINGTON (AP) —A New York pastor says Robert H. Bork seemed unconcerned when he told the Supreme Court nominee a story about the emotional trauma suffered by a Jewish pupil who declined to read the Bible in school. The Rev. Kenneth L. Dean of Rochester, N.Y., told the Senate Judiciary Committee on Monday that he was not accusing Bork of anti-Semitism, but said he was shocked when Bork — asked to comment on the incident in 1985 — responded: "Well, I suppose he got over it, didn't he?" Bork was asked about the incident two weeks ago at his confirmation hearings. He denied the exchange with Dean took place, and further said he has never taken a position on prayer in public schools. The committee resumes Bork's confirmation hearings today, the llth day of testimony. Attorney World— Mudslide toll rises to 183 MEDELLIN, Colombia (AP) — Rescue officials evacuated thousands of people from their lomes for fear of new landslides after tons of mud and rocks crashed onto a mountainside slum, killing at least 183 people. Heavy rains Monday night wompted the mayor to temporari- y suspend rescue work in the Vila Tina neighborhood. Authori- ies estimated that dozens of x)dies remained buried in mud up .0 36 feet deep, and residents and officials said about 500 people were missing. The rescue operation was to continue later today. Constitution suspended in Fiji SUVA, Fiji (AP) — Army chief Sitiveni Rabuka today appointed himself head of the government of this South Pacific island nation, declared Fiji republic and said he scrapped the constitution. Rabuka, who on Friday led his second coup in five months, made the announcements in a 10-minute address over the army- controlled Radio Fiji. He also said he had dismissed the governor- general, who has lead an interim government since May. Gorbachev makes appearance MOSCOW (AP) — Soviet leader Mikhail S. Gorbachev greeted a French delegation at the Kremlin today, ending a seven week absence from public view French television, which had a camera and correspondent pre sent during a photo session showed Gorbachev smiling am gesturing during a meeting with the leader of the delegation, for mer socialist Premier Pierre Mauroy. Gorbachev, whom Sovie spokesman h^ve said was on vac ation, greeted Mauroy's group o 370 politicians, clergymen, cul tural figures and other member: of the Initiative '87 visit to Moscow. Mauroy told The Associate' Press after the meeting that Gor bachev seemed "in excellen health and in good form." General Elliott Richardson is scheduled to testify for the nominee, while two former deputy Watergate prosecutors are to speak against confirmation. The last witnesses are scheduled to be heard Wednesday, with a committee vote expected next week on reporting the nomination to the full Senate. Senate Majority Leader Robert Byrd, D-W.Va., said Monday he had suggested to Judiciary Committee chairman Joseph Biden, D-Del., thdt the committee send the Bork nomination to the Senate floor without recommendation. Later Monday he said through an aide that he plans to bring the Bork nomination to the full Senate "around November 1." Richardson resigned rather than carry out President Nixon's orders C^t. 20,1973, to fire Watergate special prosecutor Archibald Cox. After Richardson's deputy, Wil- liam D. Ruckelshaus, was fired for refusing to carry out Nixon's order, the job fell to then-solicitor general Bork. Bork dismissed Cox in what became known as the "Saturday Night Massacre." In Monday's testimony, Dean said he related the school incident to Bork during a question-and-answer session following a speech by the federal appellate judge on religion and the law. Bork spoke at the Brookings Institute, a Washington think tank, on Sept. 12, 1985. Dean, pastor of the First Baptist Church in Rochester, said the incident occurred in his classroom when he was a teacher at Edgewood Junior High in Merrit Island, Fla., in 1961. Sen. Gordon Humphrey, R-N.H., called Dean's testimony "rubbish." The nominee also has been portrayed by civil rights groups as insensitive to blacks, because he opposed the landmark 1964 Civil Rights Act, before changing his mind; and because he has accused the court of using faulty reasoning in other key rulings on poll taxes, literacy tests and one-person, one- vote in rcapportionmcnt cases. SAN DIEGO (AP) — The Marine Corps' last active-duty combat veteran from World War n is retiring after a career that included two bloody South Pacific engagements and a North Vietnamese rocket attack. "The Marines have been my life," Chief Warrant Officer Charles B. Russell said Monday in a telephone interview from Camp Pendleton, where he is stationed. "I liked everything I did, practically. Now I've reached that magic age of 62 and, without an act of Congress, why, you've got to go home," Russell said. Russell, who has worked in ord- nance dispersal, safekeeping and recovery since re-enlisting in the Marine Corps in 1954, officially i retires Friday, ending a 35-year career. He will be presented with a meritorious service medal during ceremonies at the base 40 miles north of here. "When he retires, the Marine Corps will no longer have an active duty Marine with World War II combat service experience," said base spokesman Cpl. Paul Hermann. A native of Ottumwa, Iowa, Russell was drafted in December 1943 and reported to San Diego for boot camp. Drive-up Window HARRIS PHARMACY DfLIVHY AVAILABLE Open Mon-Fri 8 AM-8 PM Sot 9 AM-6 PM 707 S. Dora, Ukiah 462-7518 Take Hwy 20 to Blue Lakes Rd. reservations 275-2718 FULL MOON CLUB Tuesday, October 6 "New Orleans Night" FEATURING: • Ca/un Popcorn w/Sherry Wine Sauce • Chicken Gumbo Soup • Smoked Bacon & Shrimp Salad Romoulade • Blackened Rock Cod w/Ca/un Rice 8. Black Beans • Hush Puppies • Sweet Potato Pecan Pie • Wine Tasting by Konoctl Winery 6:30 COCKTAILS 7:30 DINNER FULL MOON WHEN IT RISESI This Health Tip Is one of a series sponsored by Uklah Adventlst Hospital, which Invites you and your family to loin In the F Health Fair celebration at Adventlst Hospital, October llth from 10am to 4pm. FOSTER FARMS FOSTER FARMS! TURKEY BREAST Chicken, Jumbo Chicken or Turkey Franks. 16-OZ. PKG Natural. Quarters Oven Roasted. Smoked or Mesquite Barbecued. Typing Memory 759 S. STATE UKIAH Creative*Workshop „, F ,^, Bmlm ,,, CHICKEN BOLOGNA FOSTER FARMS Sliced 16 OZ. PKG. 109 I CAPU • CHwrl iTURKEY BOLOGNA iTURKEY SALAMI iTURKEY HAM {FOSTER FARMS J 4Q JFOSTER FARMS J —Q I I"! Sliced 1 '" I EACH; 16 oz PKG IEACI Sliced 16 OZ. PKG ! FOSTER FARMS, i Chunk i Random i Weight 2 09 IB. [URMY PASTRAMI FOSTER FARMS CHUNK Random Weight 2 TURKEY HAM TURKEY HAM FOSTERFARMS ' FOSTER FARMS DINNER SIZE Random Weight I)QQ /US flljLB. Handom Weight iTURKEY SAUSAGE FOSTER FARWS Smoked or Polish Smoked 16 OZ. PKG. 029 fcEACH FOSTER FARMS FOSTER FARMS TwkeyHam Sliced 12 OZ. PKG . Honey Cured, Sliced, 60Z. PKG SSmoktd Chicken Breast*" FARMS FOSTER FARMS 6 OZ. PKG Sliced. 6 OZ. PKG Smoked Turkey Breast Sliced, 60Z. PKG 2 49 EACH 169 I EACH 199 I EACH 199 I EACH 199 I EACH FOSTER FARMS Oven Roast Turkey Breast Sliced, 6 OZ PKG. FOSTEB Me» Pastrami FARMS SMeyHam SChicken Bologna Sliced. 8 OZ. PKG Sliced, 8-OZ PKG. Sliced, 8 OZ. PKG. FARMS PRICES GOOD SEPT, 30 THRU OCT. 6, 1987 EutBt In Oakluirtt: Pricti Goo* Stpl. 21 Thru Oct. 5. 1987 Chopped Turkey Ham 8-OZ. PKG. 199 I EACH 179 I EACH 189 I EACH 89f, 4S9 1 EACH Hwy 101 A N. State St.

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