Winnipeg Free Press

Winnipeg Free Press (Newspaper) - March 18, 1968, Winnipeg, Manitoba Winnipeg free press monday March 18, 1968 Bankers dissolve Gold Pool Only one major Gold holding country France is not a Mem Ber of the Pool and thus not a party to the new agreement. The French Gold Stock is around and it was not immediately apparent whether Paris would dispose of any of this at Thev presumably higher Price that is expected to become established for individual buy ers. In an apparent Effort to fore continued special stationary aluminium awnings 20% off choose from 10 attractive trims 10 year written warranty Call for free estimate no obligation. Cd 2-2805 Sheridan industries Ltd. 554 pet Bina Highway at Grant stall this the seven nations agreed not to sell to other coun tries Gold to replace stocks sold in the private Market. The governors also agreed to provide further facilities which would bring the total of credits immediately available to Brit Ain to newly produced Gold will be available for Purchase by individuals on the London Market at a Price to be determined by Supply and demand. But govern ment held make up the vast bulk of the world s not be available to individuals. In a statement at the conclusion of a two Day emergency meeting of the seven Gold Pool nations the representatives said the existing Stock of monetary Gold is sufficient to carry on the world s business and they no longer feel it necessary to buy Gold from the the statement was read by chairman William Mcchesney Martin of the . Federal re serve Board who said it represents the thinking of the seven nations and two International International monetary fund and the Bank for International settlements in Switzerland. He declined to answer questions. In addition to the United states other Gold Pool nations the choir of St. Andrews River Heights United Church 255 Oak St. Will present a free Public performance of Gabriel Faure s requiem under the direction of Douglas Bodle organist and choir director sunday March 24, . Open Days nights at the factory Quality selection terms 3 room group factory to you Means big savings we furnish you Complete for a month any room can be bought separately free mattress Spring included Complete bedrooms 19 23" console . With 3 room group. Reg. Si99 merchandise similar to illustrations free layaway or storage till needed pay nothing till june written Money Back guarantee free Bonus gifts table lamps 20 piece Bedspread boudoir lamps dish set Pillow cases toss pillows or Blanket Coffee table 24 piece pillows end tables cutlery set sheets 61 8 Arlington near Sargent pm. 775-4426 Are the United kingdom Bel Gium Italy West Germany the Netherlands and Switzerland. The Central Bankers noted the . Policy to continue to buy and sell Gold at the existing Price of an ounce in transactions with official monetary authorities. The governors support this policy and believe it contrib utes to the maintenance of Exchange the 2v4-Page communique said. It added the seven nations agreed they will not sell Gold to another country to replace any Metal sold in the private mar Ket. This is an attempt to prevent countries from Selling their Gold at the higher Price speculators now will pay and then turning to the . Treasury to replenish their Gold Stock at the lower an ounce. The London Gold Pool was set up in 1961 to feed enough Gold to the private Market to maintain the Price at an ounce. In effect sunday s action abolishes the Pool. The communique said the governors noted that it is the determined policy of the United states government to de fend the value of the Dollar i through appropriate fiscal and i monetary measures and that substantial improvement of the a. Balance of payments in a go priority objective. They also noted that Legisla on approved by Congress lakes the whole of the Gold Ock of the nation available for defending the value of the Ollar. They noted that the . Government will continue to buy and sell Gold at the existing Rice of an ounce in transact on with monetary authorities. He governors support this poli y and believe it contributes to be maintenance of Exchange ability. The governors noted the de termination of the . Authorizes to do All that is necessary i eliminate the deficit in the a. Balance of payments As Oon As possible and to move to position of Large and sustained surplus. Finally they noted that the governments of most european countries intend to pursue Mon Ary and fiscal policies that in o u r a g e Domestic expansion consistent with economic Stabile avoid As far As possible in leases in interest rates or a go tuning of Money markets and thus contribute to Condi on that will help All countries move toward payments Equilio the governors agreed to co Perate fully to maintain the sex sting parities As Well As orderly conditions in their Exchange markets in accordance with Cir obligations under the. Arti Les of agreement of the inter National monetary fund. The communique went on the governors believe that henceforth officially held Gold hould be used Only to effect transfers among monetary a Lori ties and therefore they de idea no longer to Supply Gold o the London Gold Market or by other Gold Market. Moreover As the existing Tock of monetary Gold is Suffi sent in View of the prospective establishment of the facility for special drawing rights they no Onger feel it necessary to buy Gold from finally they agreed that henceforth they will not sell old to monetary authorities to replace Gold sold in private markets. The governors agreed to co operate even More closely than n the past to minimize flows of in the Exchange markets and to funds contributing to instability offset As necessary any such lows that May arise. In View of the importance of he Pound Sterling in the inter National monetary system the governors have agreed to pro vide further facilities which will bring the total of credits immediately available to the . Authorities including the if standby to the governors invite the co operation of other Central Banks a the policies set Forth a key development As the sat Wolay meeting began was the disclosure by president Johnson hat his administration is work ing on further budget cuts in an attempt to end the deadlock and Ivin passage of his proposed 10 per cent tax surcharge. This drive is aimed at shoring up Confidence in the Dollar and Hus convincing foreigners to hold their dollars instead of cashing them in for Gold. The plan Calls for cuts in appropriations of about and passage of the surcharge which would produce about a Cut in appropriations of this size would yield spending cuts of about to in the budget John son sent to Congress in january for the fiscal year beginning july 1. The plan represents an about f a c e for the administration which up to now has insisted the budget could not be Cut further without harming essential pro Grams. We must tighten our belts and adopt an austere Johnson said in revealing the new tax and spending Cut drive hard choices will have to be made. Some desirable programs o lesser priority and urgency Are going to have to be deferred anti War mob riots in London continued she had read the letter to about protestors at Trafalgar Square before they marched along Regent and Oxford streets to the embassy. Police allowed the marchers largely students from All Over Britain plus a couple of Hundred from the continent to approach the embassy at the Northwest Corner of Grosvenor Square but lined up to Channel them around three sides of the Square. They were funnelled out of the Square without passing directly in front of the building. On realizing the police plan the marchers pushed directly into the police. The four deep constables shunted them away but they trampled Hedges and crushed the Fence of the Square to get into the grass with its austere Black statue of Franklin d. Roosevelt. There they began hurling everything they could find at the police. One infuriated girl with a Flower Power badge rooted out yellow daffodils to throw. Police tried numerous times to drive out the protestors slowly walking toward them and repeating continually some through bleeding Mouths move along one Constable lost his patience and reached for a persistent Sod thrower but he was pulled into the crowd knocked senseless to the ground and pummelled and kicked by demonstrators. An american who intervened was Man handled. Police horses were beaten and prodded with poles holding Viet Cong flags and constables were dragged Down for a Brief beating before reinforcements trotted up. One bloody nosed mounted officer spurred his horse after a harasser of his animal. He took a Broad swipe that knocked off and broke the bearded youth s glasses. My glasses Are said the protestor disbelieving by. He did that deliberately. You saw it. My glasses Are he complained then wandered off. Police gradually ringed the militant Central group of protestors and slowly forced them out into Side streets where scuffles continued. The american owned Europa hotel near the embassy had several windows broken and Calls of let s go to the Hilton sent three busloads of police to protect the hotel. The March was organized by the Vietnam Solidarity Campaign. Forty left Wing groups were said to have taken part. At the end of the riot ambassador Bruce issued a statement expressing american gratitude for the magnificent Way the police handled the attack on the London a police filed criminal charges against 220 rioters today after battling an estimated screaming marchers in a big anti Ameri can demonstration. More than 80 policemen were injured and 28 were taken to Hospital sunday Asun armed bobbies fought off demonstrators against the Vietnam War trying to storm the . Embassy on Grosvenor Square. I Nuernberg 50 left wingers protesting the War jeered West German foreign minister Willy Brandt and for 10 minutes kept him out of his political party s National convention. In Paris explosions before Dawn broke windows at the Chase Manhattan Bank the Bank of America and the Twa office. No one was Hurt. Those arrested in the London riot were charged with threaten ing behaviour Possession of offensive weapons assault on police obstructing police or obstructing the Highway. Most of them were released on bail and will appear in court during the week. Brazil leading exporter Brasilia Brazil is the leading Coffee producer in the world the second largest grower of Corn Cane sugar and Cocoa and the third largest of tobacco. Alta. Trio asphyxiated Blairmore Alta. Up two youths and a teen aged girl were found asphyxiated near Here saturday in a car which apparently had become stuck in a Roadside ditch. The victims were identified As David Evan Hall of Cowley and Laurie Allan Stanley of Burmis both 18, and Beverley Margaret Rinke 15, of Blairmore. Cowley and Burmis Are in the crows nest pass and near Blairmore 80 Miles West of Lethbridge. Police said the car was found out of gasoline with the ignition turned on. About . High school youths compete in track. Backache secondary to kidney irritation common kidney or bladder Irris tons make Many men and women feel tense and nervous from frequent passages night and Day. Secondarily. You May lose sleep and have head ache backache and feel older tired. In such cases. Castex usually brings relaxing Comfort by curbing irritating germs in urine quickly easing pain. Castex at druggists today. I Advt flying to air Canada flies to Calgary up to 8 times a Day. Take the air expressway next time you travel out of town on business or pleasure. It s the convenient comfortable Way. And fast. See your travel agent for details or Call us at 943-9381. 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