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l'.l'IIe Guardian. Charlottetown. 'l‘I1os.. Oct, 0, 1932. 18
By ALAN DONNELLY OTTAWA (C?)-The growth of Canada’s foreign exchange reserves slowed in Sept amid strong strong indications
its June _24 emergene, meas. urcs is still some way off,
At official report Friday showed a gain of $11-t.000.000 ' the reserves during September l0 52-444300.000 at month's end.
The increase was little more than half of the August gain in
(- vital reserves and ' more than one third of July's. Since the government an- nouncec its emergency meas- ‘nr_es_ to stop the June exchange crisis. the reserves have risen 31.344.600.000 including the
.- D
2 O
by ‘.30
recovery recalled Justice Min-
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istrr Fleming's speech in Tor- onto last Monday when he said a continuation of the high rate of improvement in the reserves could not be taken for granted. ' There are growing signs, both in public government state- ments and in the views of in-
st step in relaxing the so- . “austerity" program is not imminent. WANT RESERVES HIGHER Before starting to dismantle "19 Protective measures it built last June the government wants _ see the exchange reserves higher than they now are. Dis- the special interna-
Easing Of Emergency Mqve Seen Some Distance Away
ember
formed officials, that even the it
count g tiorial loans, there is just under
31.800.000.000 in the reserves. There are both political and economic reasons behind the government's thinking. Fleming spoke in the
at government action to easeicommons Thursday of the un- ‘certainty that could affect the
exchange market if the minor- ity government were pushed into another election — which could happen at any time on a Commons vote
‘‘l we . reserve position exposed with- out further strengthening ,be- yond its present position." he
aid.
Earlier in the week there was another pertinent statement by Prime Minister Diefenbaker. who said it is "essential” that the reserves be increased to a level higher than in the last decad
The reasons he gave: Can- ada's growing volume of trade and investment and the fixed exchange rate. The Canadian dollar can't move more than_ than one per cent above or be- low its pegged exchange rate of 92% U.S. cents, and if it threatens this the exchange re- serves must be used to prevent
Informants indicated that Mr. Diefenbaker wasn't referring specifically to the level of re- serves that would justify re- moval of the emergency meas- ures. The idea instead is that, as a long-run proposition, re- serves should be above the gen- eral level of $l,900,000.000 that prevailed through most of the last decade.
Woodworkers Union
l0pposeslumber0uot‘a
WASHINGTON (CP) — The,There were somewhat over 62,- National Woodworkers of Amer- i000 that were unemployed then ica (AFL-C10) has called for of whom between 55,000 and 56.- rcjection of the U.S. lumber in- 000 were production workers." clustrv's demands for higher tar- i Suggesting shipping subsidies life and other restrictions on im- ; and other non-tariff aid to the ports of Canadian softwood. -its industry. the union said the
The union told the us. tariff : Industry must realize “that for- commission: "Our contention islelsfn trade P1‘_0bl9mS_C3l1!I0t be that U.S. producers have noti5°l"9"~ by l“d‘"E__b€h1“d 8 W311 been injured by the increase in i 0l protectionism.
Canadian imports and that no=
additional taritfts or other re- EAST GERMANS ARRIVE strictlons on t ese commodities
‘are warranted at this time." ialéehlgglz :1lfi::la°r’:)'&:1gg£;’:: '' The union challenged the US. lheaded by Defence Nfinigter l"d“5"'Y'5 Charla that C333’ l Gen Karl - Heinz Hoffman ar- $13e3:nI§f:§,’:nV3Ith3V° led l° Ulhe 2 gives‘. inullvléiscow‘ ail}: Mgndia);
- - - . - a v i,
lumhermen, saying that "if our‘ or a YT 5 ed aw e arithmetic is correct" there ‘news agency ass rem e ' were only 100.000 unemployed in l .
the industry in February. 1951.! MERCMN” M“
of which 95,000 were production! The Royal Bank of Canada employees.‘ originated in Halifax in 1864 as
"T e number of unemploved la partnership operated as the declined drastically by 1932. Merchants’ Bank.
RlPl.EY'S BELIEVE IT OR
OTTAWA iCP)—Liberal hack- bencher Vincent Dmuin has called for it combines inves- tigation into what he termed a "cartel" operated by big dairies in Montreal for the control of milk marketing.
The new member for Argen- teuil - Deux-Montagnes charged in his maiden speech in the Commons that dairy farmers in the Montreal area are “at mercy of a trust shamefully constituted to exploit them with-
Gabfest Was
MACDONALD RADIO SERVICE GUARANTEED REPAIRS Radios, Record Players. Changers. Tape Recorders. 180 Kent St. 4-6915 Opposite Eaton's
Troublesome To Schirra
USS KEARSARGE (AP).-Too I‘.".l‘.Cl1 chit-chat on the worl wide radio network distracted
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astronaut Walter M. Schirra Jr. during his six-orbit space flight
~Wednesday. and once caused
him inadvertently to use fuel from two sources. a U.S. space a gene y spokesman report
re.
The radio gabfest did not pre- vent a successful mission. But. on future space trips. “we will ‘make a definite effort to re- ‘iducr the amount of talk on the iastronaut frequency." said Lt.- Col. John Powers of the Na- tional Aeronautics and ‘Space Adniinistration.
The problem of too many peo- ple on the air waves was brought out during Schirra's discussions with his fellow as- tronauts and engineers as this recovery ship steamed toward Hawaii. The Kearsarge is due there Saturday. Schirra will transfer immediately to a plane and fly to Houston. Tex.
fichirra was quoted as saying in the private conference “you need some quiet time up
n
there. i
he complained that every time h-1 ltad to start thinking about adjusting the space cep- suie's attitude controls or some nther part of the system, some- body on earth broke in on the r
O, \ in addition to messages ad- dressed to him directly, he could not-help hearingthe talk of tracking stations and every- one else on the network. “Even if two people are checking out their systems in Australia. the astronaut hears them." the spokesman said.
Liberal Back Bencher Says Montreal Has Milk Trust
out restriction."
He said dairy farmers cannot sell their milk directly to Mont- real food stores. but are forced to sign “one-way" contracts with a few major dairies.
The contracts set down the milk "quotes" to be delivered each day by the farmers. but gave the dairies the right to re- jc.-ct part of the shipments. The
paid farmers only $2 per hun- drodweight.
Mr. Drouin, speaking in French during the continuing throne speech debate. said the federal government should in- vestigate the matter and help dairy producers to "surmount the present crisis."
“That's a matter for the prov- ince.” an unidentified Conserv- ative member shouted.
j
VHGNVIO
SEE DI TH’ EXP “I
ANDMA .
-6! D YOU HEAR
TERIIIFIC LOSION AT FACTOR
THAT TH’
LOWlN'
I HEARD TH’ NOISE ALI. RIGHT...
MY. WAS FACTORY 3 UP ?
... BUT ,1 YHOUGHT IT
WAS TH’ KID‘ GETTIN‘
oun SCHOOL /I
s-x maev issaas
Radiation Belt Could Have Been Fatal To Schirra
WASHINGTON (AP)—Astro- naut Walter . Schirra Jr. might have been killed it his space capsule had passed through an artificial radiation belt created by a U.S. high- altitudc nuclear test explosion, a US. Air‘Force scientist said here.
"It conceivably could have been fatal to Schirra if he‘d gone above 400 miles.” said '.-Col. Albert-C Trakowski Jr. He presented an air force state- ment on the radiation belt and answered questions at a. press conference.
Schirra got no higher than 176 miles on his six-orbit spin around the earth two days ago.
Trakowski indicated also the belt generated by the 250-mi1e- high nuclear test blast would be strong enough to blind any spy- ir.-the-sky satellite-—U.S. or So- vict -— which might move through it above 400 miles. where the radiation increases sitar .
He told reporters film packs. infra-red sensors and television- transmitting devices would be damaged permanently if ex- poised to the high-intensity radi- at on.
E‘
The U.S. spy-satellite system. Samos, now under development.
is designed to operate at about 300 s.
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in-’ DAILY CRYPIOQUOTE — Here's how to work It: A X Y D I. B A A X B Is I. 0 N G F E I. L 0 W One letter simply stands for another. In this sImpleAtsused
CONTRACT BRIDGE 0
By B. JAY BECKER
for the three L's, X for the two 0's. etc. Single letters. apos- trophiea, the length and formation of the words are all hints lisoh day the code letters are different.
Aorylwfltrllnarsoteuse ‘UROVVBISIL I063 W130!
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It is obvious that if West has the king of clubs you will be a least eleven
. case. you would be defeated if East took the out-en and returned a West was able to cash heart tricks. '
Sines possibility having lg: kiss of clubs and West's having a five-card heart
u that there is e wayvof hoaitdiing .the situation without let win th quee
heart and‘ tour
of East's.
A mu. uaouaht will convince’
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» owever. you say 0 yourse -—-—-——--————- —— ~--—- th-t W m-v not be Your lucky OUR BOARDING HOUSE MAJOR HOOPLI day an may turn out that ‘
East was dealt the king of ' club! In that '
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