Winnipeg Free Press

Winnipeg Free Press (Newspaper) - December 20, 1971, Winnipeg, Manitoba Winnipeg free press monday december 20, 1971 a retain s experimental Rove train gets a trial run at Earith Cambridgeshire. It is the world s first All electric hover train a full size experimental vehicle designed to reach 300 . The futuristic vehicle floated on its half Inch Cushion of air and reached 15 . The government has spent million on the project which the developers tracked hovercraft Ltd. Pcs a land transport throughout the world s developed nations. Are confident will revolutionize High Speed Benson Connolly at Odds on the key question of the relationship Between the . And Canadian dollars or. Ben son foresaw essentially a reproduction of existing patterns in the new Over All framework. Or. Connally in effect foresaw the Canadian Dollar being moved in a Way which would give the a stronger Posi Tion in Trade with Canada. Looking beyond the Uncertain ties about the Dollar the picture was considerably brighter. The lifting of the. Surcharge a serious obstacle to Canadian Trade was imminent and or. Benson expressed eagerness to strike an agreement with the . In bilateral Trad negotiations. It appeared also that Canada stood to share in the gain accruing to the . From Thi lowering of the value of Thi . Dollar in relation to mos other currencies. With the Ca Nadian Dollar following the Gen eral Lead of the . Dollar Canada As Well As the could look to a substantial boost in Trade with Japan and West Ern Europe. For most major countries the weekend agreement meant the establishment of a new Basic Exchange rate allowing for some fluctuations which would define the relationship Between the National currency and the . Dollar. In the Lone departure from the pattern no fixed Exchange rate was established for the Nadian Dollar. It was instead to left for All the major countries except Canada the establish ment of Basic Exchange rates entailed some direct upward valuation of currencies against the . Dollar. Any such up Ward valuation involves some reduction of the trading strength the country involved to the Benefit of at least the ., and possibly others. In the Case of the japanese yen which was pushed upward the farthest there was a straightforward upward valuation against the . Dollar and then a further effective Rise As the result of the devaluation of the Dollar against Gold. In the Case of the French franc there was an up valuation Only to the extent of the Dollar devaluation. The provision for a continued Canadian Dollar float meant in effect that no firm decision was made on an upward valuation against the . Dollar. Upward valuation would work for the . And against Canada in Trade dealings Between the two countries floating leaves open the possibility that the Canadian Dollar will keep Pace with the . Dollar in this downward movement As against other currencies. This is what the Cana Dian government has talked of and fought for during the protracted negotiations which led to the weekend agreement among the finance ministers of the 10 most highly industrialized countries meeting in the arts and industries building of the smithsonian museum. J hailing the outcome of the continued Wishful thinking and challenged the idea that the remo Val of the surcharge would re sult in pressure on the Exchange rate. Or. Benson said or. Connally was and that underlying facts did not support his View. With the surcharge removed Canadian Industry would expand More quickly and Canada would import More Cap ital equipment from the ., As Well As exporting More to South lots of people think the Ca Nadian Dollar is said or. Benson. Though he did not elaborate Canadian officials suggest that in recent weeks flows of Money away from the . Dollar have pushed the Canadian Dollar higher than would warranted the Over All Canadian Trade and economic position. Has the smithsonian agree ment is put into effect or. Connally is borne out mar Ket pressures for upward move ment of the Canadian Dollar the Canadian government will face a difficult decision As to whether and when to intervene and restrain the in the communique issued after the meeting it is said Canada intends temporarily to maintain a floating rate with Market forces being Given ree play except As required o maintain orderly Lar. Connally placed heavy pm Hasis on the avoidance of in reference. He would want the float to very or. Benson said Canada would intervene to smooth it movements of the Dollar there there was great speculation one Way or the Strong intervention to keep he Canadian Dollar closely tied o the . Dollar would pre Mably viewed harshly or. Connally. One possible re Ponse would a toughening if the . Tone in bilateral Rade talks with Canada. This is in the minds of some Canadian officials although or. Enson discounted it that the . Is keeping a lose Eye on the matter seemed Parent from comments in. Connally and his assistants t the press conference. An ver All calculation of the Trade benefits which the . Can expect As a result of the smithsonian agreement could not made it was noted because there could no Clear Reading of the Canadian american Pic Ture. As a result of the Canadian Dollar floating or. Connally talked of the Canadian Dollar moving upward to the Benefit of the . Trading position. This came against the Back ground of a Connally Call for Quick movement for a settler ment of Trade questions including those being dealt with in .-Canadian talks. Or. Con Nally said there would have to a satisfactory settlement fore the . W o u ask Congress for authority to Deva Lue the Dollar against Gold. Also did net tirely foreclose the possibility o re imposing the import sur charge if the . Did not receive satisfaction on the out standing Trade questions. Or. Benson was emphatic that Canada and the should reach agreement on Trade these caused disruption far beyond their actual removal of the irritants would get rid of a lot of Anta said the minister. Can Ada wanted the Best possible relationship with the . Bilateral Trade talks on the perimeter of the weekend monetary meeting were characterized a . Official As having been on a sound keeping the Canadian Dollar on the same footing As the . Dollar or even somewhat above would give Canada important Side benefits. The Ca Nadian Dollar stands to devalued As against the currencies of Japan and Europe. This will strengthen Canada s position in Trade with those areas possibly deaths . Cut realistic Premier substantially. Assuming that the . Pat Tern was followed closely the Canadian Dollar it would de valued about eight per cent against lie French franc and 17 per cent against the japanese yen. Privately Canadian officials express Hopes that the new Trade opportunities in Japan and Europe will of great importance in helping Canada to expand overseas Trade As a counterbalance to heavy Reli Ance on the . Market. Or. Benson indicated however that Canada had to resist Strong pressures from others besides the . In order to win approval of a continuation of the float Canada had accomplished what we were trying to but had had to work Damn hard to get the Basic Canadian position he said was that Canada had contributed enough to an Over All settlement through the appreciation of the Canadian Dol Lar against the . Dollar Over seven per cent even prior to the Onset of the major crisis of recent months. Manitoba premiered c h r e y e r said saturday the United states action in devaluing its Dollar is a realistic step Benson confident j that probably should have been in affirmed the earlier Reading taken a few years of the situation As against that made or. Connally in a press conference on the Broad agree ment saturday evening. The Treasury Secretary said bluntly it was his expectation that there would some up Ward movement of the Canad an Dollar against the . Dol Lar. Or. Connally pointed to the removal of the surcharge and changes in most nations Exchange rates As moves which would improve Canada s Trad ing position and thus create pressure for upward movement of the floating Canadian Dot Jar. I anticipate we win a farther increase in the rate of the Canadian Dollar As against the . In said. At a press to refer Dirac Terizer As ago but a nationalistic Ewe or. Or. Cori fishy s i was t because of j or. Schre3 or was comment ing on the announcement that i the finance chiefs of the 10 richest non communist nations i had reached agreement on a i new system of Money Exchange rates. The . Agreed to Deva 1 Hie its Dollar 8.57 per cent and also to remove its 10 per cent import surcharge i or. Schreyer said devaluation will result in at least a two per cent differential in favor of an countries trading with the . Than the Premier said the action will have Only a Marrinan effect on Manitoba since the Dol Lar devaluation will or exports to she . Oat ranch Jess Heath Nixon meet Heath Means to use the meet ing for a study in depth of the future course of inter Allied re lations. He has made no secret of the British government s profound disagreement with american handling of the India Pakistan War particularly its blaming India for the fighting. He and foreign Secretary sir Alec eight per cent is less j Douglas Home have Heen mys the 10 per cent stir Tiger As to Why Washington did not realize months ago that the Unity of East and West pakis Tan was doomed. One of the first matters he plast cd to take up with is How Western Powers can Salvage they can from the Rains of Baran Alexander 79, of 898 Redwood Avenue. Belloff Reinhard rein Peter 70, 400 Assiniboine ave nue suite 41, accountant. Bisson sister Georgianna 68, of St. Boniface. Brown Lily of 12 Royal Crest widow of William Henry Brown. Brunka Joseph 66, of 200 Henderson Highway sculptor. Boulez Ink Nick 53, of 302 main Street suite 2. Carriere miss Antointte 55, of 61 Fermor ave nue St. Vital. Chagnon Oscar 75, of St. Clen Raa m3h, Cukan Andrew jr., 43, of Cio Overleaf Man. Curran mrs. David 53, of 787 notre Dame ave nue. Didur mrs. Madeline 64, of 409 Mcgregor Street. Einarson Albert 71, of Winnipeg. Pint Phillip tee 62, of 227 Street chef. Foster Margaret Hay 72, of Burnaby . Franz miss Maria 83, of 342 Kingsford Avenue North Kil Donan. Gascoyne g e o r g a 41, of Denver Colorado formerly of St. Vital. Gladstone Harry David 30, of 382 Robertson Avenue St. Vital. Goodall mrs. Margaret 90, of 11 Silvia Street. Grant Henry c. Find Marsh Albert Cooper 58, of Vancouver. Howe Alfred Ernest 73. Of 288 St. Anthony Avenue West Kildonan. Johnson Carl Emil 81, of 43 Brighton court Transcona. Johnson Johann k., 91, of Riverton. Man. Kulachok Peter Kutzok 77, of Garson Man. Ledall Jean 81, of Dryden ont. Retired from the Mani Toba Telephone system. Evin. David. 64. Machel Gustav 84, of Whitemouth Man. Mathewson Peter. 59, of 301 Victoria Avenue East trans Cona. Mcleod Ann 64, of Pine Falls Man. Moen Harry Clifford 54. Of 770 Watt Street suite 19, East Kildonan. Molinski mrs. Charles Nel 63, of Beausejour Man. Owczar Anton 83, of shorn Cliffe. Man. Plenty Leonard 75, of Deer Lodge Hospital 2109 Portage Avenue St James Assiniboia. Rink Jack. 67, of 1169 Sher Burn Street self employed Barber. Eva Edith 72. Of Brandon. Man. Smerchanski Leon 74, of 769 Toronto Street Stephenson Edith of 923 Dorchester Avenue. Stevenson William James 78. Of Selkirk Man. Storie Sarah b., 89, of aus i tin. Man., widow of Robert i Storie. Swap Robert Stephen of lon j Don. England. Is Rota. Alex. 57, of 2141 i Logan Avenue. I i Taylor Colin Duncan Ord j j 85. Of Calgary Alia. J Walsh Joseph 67, of 839 Lyon j Street i Warren Edward Perry. 71. Of 953 Windemere Avenue. Fort Garry. I Wells. Mrs. George j. Rath teen of 334 Lis Den ave i Mie. East Kildonan. West Max. Job Johnannes. 7s. I of the Beacon of fill Lodge nursing Home. Wiley mrs. Leslie Alice Rowan formerly of no j Henderson Highway East Kildonan. It Lams. Oboe of 71 a Berbera Street nurse. Zdyr mrs. 71, of 1c85 borrows Averrie. Inf her farm atom please see classified death is aces continued . Dollar stronger this was Gold on Sale to dentists jewellers Industry Anc speculators. Monetary Gok backing currencies is exclude from this Market and is Trade exclusively Between state Banks. With the devaluation of the Dollar decided in Washington the new Price for monetary Gold is an ounce up an ounce Over the Price prevailing since the last devaluation of the Dollar in 1934. The Dollar opened in inter Bank dealings in Frankfurt at 3.28 Marks up from Friday s closing 3.2580 Marks. The foreign Exchange was closed pending formal approval the West German government of the realignment agreement Call ing for a 13.57-per-cent increase in the value of the Mark. This would make the new parity 3.223 Marks for a Dollar com pared with the old parity of 3.66 Narks. Switzerland fixed its official Dollar parity at 3.84 Swiss francs today. This represents a .4-per-cent increase from its .08 Dollar parity set last May. The upper and lower support Imit were set at 3.9265 and .7535 Swiss francs. The London foreign Exchange Vas tightly shut and Interbank dealings were forbidden. But american express and other tourist agencies began exchanging dollars at the rate of or one Pound. Within an hour Pound declined to tourist agencies were changing Ollars Friday at the rate of 255 to one Pound. State Bankers and govern ment ministers were conferring most european countries to tudy implications of the Wash Ngoa decisions for their cur and Trade. N. H. Hallenborg head of the Kockum shipyard said swed ish Yards stand to lose nearly million a year Over the next 10 years because of fixed Dollar contracts. Part of this is expected to offset however cause of new competitive advantages Over japanese and West German Yards due to the greater increase in the. Dollar value of the yen and the Mark. Tourists were not having an easy time in some countries. In italian Banks were refusing to Exchange even Small amounts of foreign currency for tourists pending new instructions on rates. Tourist agencies were exchanging limited amounts the rates were a Jolt. In Madrid hotels refused to accept any foreign currency american express was Chang ing its own travellers cheques but not . Currency. All Lisbon Banks and Money changers refused to accept either travellers cheques or cur Rency but tourists were Able to change limited amounts at their hotels at Dollar rates sharply marked Down from saturday s level. Toronto up the value of the Canadian Dollar at the open of Domestic currency markets today was unchanged from Friday and there was Little activity because most other cur Rency markets were closed. The Canadian Dollar is the Only freely traded currency among non communist Curren cies. The opening value was six lots of a cent above Par with the United states Dol Lar. Traders said most of the trading was in . Dollars As new York was the Only major currency Market that was open. Finance ministers of the group of ten Industrial nations agreed during the weekend to a realignment of major world currencies and most markets closed As ministers reported to Beir governments. The Canadian markets were open because the Dollar is being rated without a pegged values it has since Jan. 1970. The weekend agreement included an 8.57-per-cent devaluation of the . Dollar which meant automatic revaluation of currencies except the Ca Nadian Dollar. Some other currencies were to save additional revaluations and governments in the process of fixing new values. Made them sick dutch explorers gave the Dodo a name meaning nauseous Bird since no cooking made them palatable. Recent Type pointing dogs Are of comparatively recent origin their development paralleling the development of sporting firearms. Last minute specials 26" modular 4 color . Advance 1300 Portage ave hew rates at Fidelity Trust 0 Hunt in packs the name Dogfish has been applied to several species of smaller Sharks perhaps because of the habit they have of pursuing or Hunting their prey in packs. For 5 year term guaranteed Trust certificate interest paid Jan. 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