Political And Monetary =

Instability Seen Linked

» _ By CLAUDE HENAULT j MONTREAL (CP) — Interna- tional monetary instability and political chaos are linked in a just-published by Dr. Robert A. Mundell of the Brook-| ings Institution, Washington. | “For half a century the world’ has" been plagued by interna-' tional monetary instability,”’ he writes, adding that ‘this is hardly surprising.” : “Mi disorder is a con- eomitant of political chaos. . . No international monetary asys- tem is warproof and no conven- tional structure can survive in an age of biind economic na- tionalism."

The report, entitled the Inter. mational Monetary System: Con- flict. and Reform, is published by the Canadian trade commit- tee of the Private Planning A: sociatiun of Canada

“International monetary de- velopments today,’* Dr: Mundell says, “to bear many striking similarities to events leading up to the 1931 collapse.”

‘The security of the system today once again depends upon the safety of the reserve cur- rencies, the dollar and stefling. The present system could pre- vail if foreign .central banks were committed to retention of dollar-balances accumulated in exchange - market stabilization activities

GAYS SYSTEM INSECURE “Rut, central banks are not @o committed, except in so far

ON THE AIR

FRIDAY PROGRAMS

- ceCyty ©,

8.00 p.m. Musicale a, 8.30 p.m.—Moment ef Truth cf 4.00 p.m.—Vacation Time | 6.00 p.m.—Kings Outlew i 5.30 p.m.—BBC Film

6.00 p.m.—Flintstones | 6.320 p.m—Garzere | 7.00 p.m.—CFCY TV News

7.15 p.m.--Old Home Week

“7.30 p.m. —Overtand trait |

8.20 p.m.—Musical Showcase | 9.9 p.m.--The Great War % | 9.30 p.m.—The Fugitive Pa

10.30 p.m.—Telescope

11.00 p.m.—CBC Bowling

12.90 a.m.—CBC TV News

12.14 am.—Sign OF |

: CKCW-TV

-* 3.00 p.m —Snorts Spectacular

__#.00—-News and Weather |

"OT T=Preview Commentery—C8E

7.30 1p.m.—Lionel Playhouse The Black Knight 9.90 p.m.—The Great War 9.30 p.m.—the Fugitive 10.30 p.m.—Telescope TE.C0 9.m.—Burkes Law 12.00 p.m.—CB8C TV News 92.15 a.m.—Viewpoint 12.20 a.m —Lione! Network News 12.30 2 on. Wrebtling 1.30. a.m. Station Sign OH :

cecy Radio PRIDAY

6.30—News anc Weather 4.35—Merning: Reundup 6.45—Island Wr. and Mer. Temp. 6.46—Merning Roundup 6.55—News and Weather 7.00—Hebrew Christian Hour 7.1$—Merning Reundup 7.30—News and Weather 7.35—Farm Report

~~. a—Merning Roundup 7.45—Island Wr.'and Mar. Temp. 7.44—Morning Reundup . 7 .56—Sperts Copsule and Scoreboard a.00--News B-11—Weather - 8. \éegMorning Reundup i w-75—wearher ‘ 4 8.50—Atlantic News Roundup * 8.58—Thought For Todey ‘ 9.00—CBC Nationa! News--CB8C

9.16—Notes and Music 10, 0—News and Weather f 10.0:5—Notes and Music 10. 25—Sunlight Eye 10.30--Notes anc.Music, > 11.00—News and Weather 11.05—Notes and Music 11.30=Mentague Entertains | 11.4@2Notes and Miisic 11.45—Bulletin Board 11.50—Notes and Music

ebeSemete «ui

as it suite their self-intérest, and the system is once again Dr. Mundell says there are a Se solutions to the : t, “the proposals that are technically feasible seem not to be politically ac- ceptable, those that are politically acceptable seem not to meet the problem." “Faced with the paralysis of the capacity to avoid crisis, and

- the possibility (not to say prob-

ability) of catastrophe, we have fo rational course other than to prepare for crisis.”

Taking into account the pos- sibility of crisis and the present impossibility, because of the “state of world tension,” of adopting what “he considers the best solution, a central world bank, Dr. Mundell presents a plan of ‘‘crisis action.”

His plan would include a gold standard, allow limited flexibil- ity of exchange rates and fea- ture a system of key curren- cies.

In an - international crisis, Dr. Mundell that the United States substan- tially widen the price margins within which it buys and-sells gold.

‘The International Monetary Fund agreement now allows any country that pegs its money to gold to buy and sell within a margin of one per cent on

money

Suggests.

erease this gold trading margin, but may not allow a widening of exchange-rate margins.

As most countries now peg their currencies @m the US. dollar, either directly or indi- rectly, he said, the increased gold margins would not bring about an immediate incréase in international exchange rate flexibility. :

The immediate results of this action, he says, would be a dol- lar standard imposed on the world and that gold might be- come less safe as a reserve as- set because of the larger swings its value could take.

This could be good for some dollar - pegging countries who would exchange gold for dol- lars.

“For example,” he. said, “Canada has lost more than $500,000,000 of interest income

by her past policy of holding gold rather than dollars as re- serves. If Canada had invested her gold holdings, which have averaged about $1,000,000 over thé past 15 years, the cumula- tive value would have almost doubled, the interest payments

Guardian, Charlottetown, Fri, Ang. 20, 1965.11) | lb)

Couple Take Vows In London:,, ‘Despite Scorn Of Ceremony : z >

Before they met Miss De- neuve insisted: ‘Marriage is putting a rope round one's | neck;” and Bailey said: ‘‘It means nothing to me at all-- we are just doing it for other

LONDON (Reuters) The couple who didn't believe in marriage, blonde French act- ress Catherine Deneuve and fashion photographer David Bailey, have been married in London—but still. unconven tionally.

The bride, 21 - year - old mother of movie director Roger Vadium's son Christian wore black.

The groom wore corduroy pants: a blue sweater, and no shirt. The best man was

Miss Deneuve, star of The Umbrellas of Cherbourg, has | a seven-year contract with 2th Century Fox. > “She's as temperamental as hell, HMke a Ferrari,” the | bridegroom told reporters. “She's going to be a very dif- ficult bird to run, but she’s a

singer Mick Jagger of the sad, Rolling Stones singing group. Eg ee gs on ter 8

Bailey, son of a London And her som by Vadim? tailor, earns up to £500 ($1,- “T Jove children,” he re 500) for a fashion picture. Hie lied i

last marriage, to a dancer, lasted nine months. His wife cited: model Jean -(The

Shrimp) Shrimpton, im the divorce.

The wedding, in a registry office, was the climax of a | nine - week courtship which Miss. Deneuve described as ‘so quick, 20 fantastic.”

sae cuninnunanse

being used to build up bigger reserves,"

The next stage of the plan would involve formation of eco- nomic blocs, each with their’ own currency reserves. The dol- lar for the U.S. hloc, sterling for the bloc using London s an exchange, and a standard unit for the developing European Economic Community.

These money units, for use as a reserve asset, could peg on the gold market, which, with the widened gold market margins, would allow fluctua- tion of exchange rates between the reserve assets.

Canadian Engineer Designed Radio Antenna For Gemini 5

By WILLIAM NEVILLE

OTTAWA (CP) —’ America’s Gemini 5 astronauts will do their talking to earth thanks to the imventiveness of. a -veteran mechanical engineer at Can- 11.00—News and Regional Weather 11.05—Startight Serenade : 10.30—Court Of Opinion— CBC 11.30--News and Maritime Weather 11.35—Starhight Serenade

eats Soert—CBC 12.15—CBC News and Music—CBC CBA RADIO PRIDAY

6:00—The Morning Show. Pert 1 7.00—The- Morning Show, Part 1 8:00—CBC News and Iniand 8:15—Maritime Sportscest 8.21—The Morning. Show, Part 2™ 8.35—Leave |t To Bennet

| 9.00—CBC “News

9:11—Commentary 9.16—A.M. Chronicle 10:30—Music on the Move 11,00—CBC News 11.95—Mern Comm 11:15—For Consumers 11.20—Recerd Album 11,30—The Archers 11.45--Twe for @ Querter 12.Q0—Jamboree Junction 12.15—Boy Meets Girl 12:30—Maritime Farm BCas? | 1:00—CBC News en& Weather 1:15—Maurice Pearson Show \:45—The Open Road Show 1:59—D.0. Time Signal 2.00—The Open Road Shew 2:45--Steries by Mordecia 3,00—CBC News 5 3:03—Trans-Canada. Matinee 3.30—Trans-Canada Matinee 4.00—CBC News —— 4.03—Canadian Roundup 4:10—Music In The Air 5:00—Mar. Fish B8'Cast

|. 5:20—Tempo, CBC Notebook

6:00—CBC News 6:15—On Parliament Hill -4:20—Teday's Editorial 6.25—Inland Weather - Scores 4. —Bus'ness Burometer 6:35—Music In The Evening 7:30—Business and Lebor Review 7.45—As You Were 4,00—Assignment 8.20—UN Radio 8:30—Radio International

Part 1 2M Radio International Part 2

and Sporfs

,10-00—CBC National News, On Par

Hiament Hill and Speaking Personally

19.33—Couchiching Conference

11.30—Dixieland Downbeat

12:00—CBC News

Marine Weather 12:15—Music_In_ The Night

flights

ada's National Research Coun- cil.

A unique radio antenna’ mast developed -by NRC's) \George W. Klein will be among the first pieces of equipment | used by Charles Conrad and+ Gordon Cooper during their | eight-day orbital flight will remain one of their moat | important aids throughout the space journey | With the Canadian-develoned | STEM device, short for Stor- | age Tubular’ Extending Mem. | ber, Conrad and Cooper will be | able to maintain constant radio_

suitable

and it).

ORNOT _

RIPLEY'S BELIEVE IT

Tite NAZIS = WHO HAD BEEN PRINTING FOREIGN BANKNOTES IN EBENSEE, AUSTRIA - DUMPED BUNDLES OF BULLS “7D Te LAKE AS THEY FLED 2

6*X LNJOV 1349aS

THE FIN Reve, HARRY ZELTNER DIOLLE nha (28! (185-1898) of Melbourne, Australia, - WAS A NAMED HIS 5 SONS OF DIOLLE HARRY ZELTNER DIONE,: » ZELTNER_DIOLLE HARRY DIOLLE, : Ww ITS HARRY DIOLLE ZELTNER DIOL! THROAT

on @ Rig Foams fredam, Le. 18. Call te emo

LTNER HARRY DIOLLE, AND DIOLLE ZELTNER HARRY DIOLLE

contact with the U.S. space ad- ministration'’s ground control at Cape. Kennedy, Fila

fb Without it; such contact would 'be impossible

The space antenna on which Mr. Kiein began working 13 years ago is described by NRC Officials: as ‘‘something like a ifishing reel." ~ SPRINGS OUT

When not in use, # be rolled up on a small storage cylinder on the spacecraft, taking up the minimum amount of room. When released. however, the |steel tape springs out into a long tubular pole of 150 feet or | more, thus providing the neces- | ;sary antenna with which to maintain radio contact.

“It. makes the ideal antenna for a spacecraft,’ said an NRC official. “It doesn't take up much. space but, with no sag jin it thanks to the tension: you {ean roll it out in space almost las far.as you _like."’

j Mr.” Klein, a Hamilton-born | University of Toronto graduate

+who-has—-heen—with-NREG*s—me-—

chanical engineering division for almost 30 years, began working ,on the antenna in 1952 for pos- sible use in a Classified non- space Canadian military project. | Some three vears ago, how- ever, its space application be- came necessary. and de Havil- land Aircraft Co. of Malton, Ont., took over its final develop- ment and production. | De Havilland supplied anten- nas for the last three Gemini Astronaut Ed White used ~ the Canadian-invented system earlier this vear to report on his walk in space from Gemini 4. ©

A “150-Toot anfenta was ised in Canada's Alouette I satellite ‘which is still in orbit. A 240-foot” -one will be placed in Alouette | Tl when it is launched and US.

“¥2:03—Sports—Seores.iniand_and___, SPAace _ officials have made it

standard equipment for future _Gemini_and_ Apollo space shote.

CONTRACT BRIDGE |

By B. JAY BECKER

TEST YOUR PLAY er

11.55—Atlantic News, Roundup. wrarecske YD are declarer Gath the

12.00—Weather

12.05—Tewn and Country Time 12.30—News and Weather 12.45—Tewn and Country Time

1.05—Town and Country Time

1.15—Temmy Hunter Shaw-—C8C

1.45—Toewn and Country Time

2.00—News and Weather

2.05—Mostly Music

3.00—News Headlines and Weather

3.038—Trans-Canade Matinee—CBC

8.30—Tops In Pops

4.00—News Headlines and, Weather

4.03—Canadian Roundup—C8C «.4.10—-Tops In Pops

5.00—News and Weather

5.05—The Outports

5.25—Matine Weather

5.28—The Ovtports

6.00—News and Weather

6.15—On Parliament Hill—CBC

6.20—Todays Editorid|—CBC

6.25—~Sperts Parade ji

6.30—Business Baromefer—C8C

6.35—Tenight’s Music

7.00—Back to the Bible

7.30—News and Weather

7.45—Program Schedule cc

7.46—Tonight’s Music alt, Nation's

Business —-CBC {

¥.55—Interlude

8.00—Assignment—C8C¢

8.20—Tonight’s Musie

8.90—Ridio International Part 1—

BC 9.00—Radio International Part 2— cBc

10.00—CBC National News, On Par. Hill and Speaking Persennelly —Cae ;

West hand at Five Diamonds. North leads a trump, South fol- lowing suit. How would you play the hand?

oe

low from his forced spade’ re- turn, whether it be the queen, jack or nine, and thus axsure the contract. 1* North is on lead, the problem of 'ssing only one

DAILY CROSSWORD

~~ ACROSS DOWN ~~ 21. Asian 1. Garrison 1, Copy- river 5. Mountain right _ 22. Jap- range 2. Make anese 9. Shaggy choice pariia- 10. Glacial ice 3. Hastened ment pinnacle 4. Novices 24. Wal- 12. Speak 5. Donkey nuts | 13. Smooth: 6. Man's and poetic name pecans 14. Music 7. Advanced 27. Steep note 8. Ringed 28. Russ. 15. Two: Sp. planet * viol 17. Hint 9. Hospital instru- 18. Upward employee ment bend in 11. Gambit 29. Desert —-timber: = ere country naut. 16. Bird 81. Good-by: 20. Eight- 19. Crystalline 2 words legged alkaloid 82. Plague ~__ arachnids 23, Boys’ ae school on the Thames Foreigners Hasty Spat Examina- tion Urban dist. Lancashire, Eng. Peter Rabbit's —? girlfriend 36. Pat £ 37. Marry 39. Music note 40, Death hhotices 43, Cars 45. Hebrew “elegy 46. Disposed 47. Eagle's nest 48. Warbled

Lay Vila

IAI! R/O A HIOSITIEILIRIY AU! IATEIAIC IUIS | FIRIAMS MM ALZIOIRIE ETSITOP MMOIRSIe | SIETAMIV MES [OIA IS

SBRR

z 8

awe

“THE DRIVE-IN Be PUT INA BA

“THEATRE WANTS To LCONY

RENE LES FiRet +.

I WANT A MAN-TO-MAN / ANSWER, HOW DO A! NOU KEEOW

FROM BOSEING YOU AROUND 4,’

ONSE! HF HAG To -” Two:Somsone Y — SOMEONE SE SOMEONE WIG ABLETOHIDS@ =» WHO CAN . IN AND AROUND

your MOTHER PHONED.’ SHE WON'T BE HOME TILL TOMORROW.

S75")

SOUNDS GREAT!

BUT DON'T KNOCK

HAM, GLAZED SWEET YOURSELF OUT—

POTATOES AND FRUITCAKE FOR DINNER

IT ONLY TAKES A SEC TO OPEN ANOTHER

1T QUICKLY OR THAT STORM MAY WASH AWAY THE TRA/L/

DAILY CRYPTOQUOTE — Here’s how to work it: AXYDUBAAX ER is LONGFELLOW

One letter simply stands for another. In this sample A is used

forthe three L's, X for the two-O's, etc. Single letters, apos- trophies, the length and formation of the words are all hints. Hach day the code letters are-different,

A Oryptogram Quotation

'xXDs% AOMB UADTO IAD SD LDU AOMB UAOSTOMWOTI~ E“EPTDL “EPNuOY : ea!

Yesterday's Cryptoquote: WHEN FOLLY Is BLISS, ‘TIS IGNORANCE TO BE OTHERWISE.—ETHEL WATTS MUM-

vVnNoOOoTVvd

inet

spade trick is even simpler.

KIER 910 er ei) @ AQnOs8 " @Ko84 @AK LS tases 2. You are declarer with the

West hand at Four Spades

and shifts to a trump at trick two, South following suit. How would you play the hand?

@akQs 92842 w i @A864 @K1i0 $2 de 31062

1 Draw two reunds of trumps, cash the A-K of clubs, enter dummy with a trump and

| ruff a club. If the queen of clubs

has not yet appeared, play a epade to the ace and ruff the jack of clubs. All these plays are against one opponent's having four -or five spades to the Q-J. (If the spades are divided 3-2, there is-nad problem.)

Now von lead- the ten of hearts If the defender who wins

2. Win the spade in dummy and ruff a club. Then play a dia- | mond to the king, and puff a diamond. Now trump a club, trump a diamond, and finally, trump dummy's remaining club.

|North leads the king of clubs p. this time all the clubs and

diamonds. in both hands are) gonél, and the énd result is that you lose precisely three tricks—

@ 31098 a club _and two hearts. - {

is type of play is known as a dummy reversal. You play the hand as though you were de-. clarer with the East cards and West were the dummy It would be tiormal for East, if he were declarer, to ruff His) \clubs were dumfiiy’s trumps, | |and almost any East who be- came declarer would do this. The-pattern of play should ‘not! change-“hecAuse West is declar- | er. The line of play should be the same regardiess of where declarer happens to be physical: | ly located ; If declarer

makes the mmrs-

the heart has no spades, he must take of drawing a second round | yield a ruff and discard, <o let's of trumps, he urgently invites! assume that the other defender defeat. When he then attempts (holding the Q-J:9 of spades) to-crossruff after doing this, he wins the heart. is likely to finish a trick aati

M South is om lead, pou play jot bia contract. ~

OUR BOARDING HOUSE MAJOR HOOPLE

OF ALL THs

Yi, OMS THIS 6 JUST A SAMPLE OF Tug) LUCK! T'vE KIND T WAS CATCHING TODAY’ AS A TRUE SEEN

PORTSMAN TL NATURALLY THREW BACK IME

OTHERS TO GIVE SOMEONE ELSE A CHANCE! ¥

~~ HAK-KAFE fame IT TOOK ME ZO MINUTES TO REEL HIM IN-~@UT OF COURSE I

LOST SOME TIME LIGHTING MY cieAR!

: payudl wWilJaNS 2 SOONW

STORET AT hE cht ante PARTE EP 90 T 4 Rem tDage at oe

>;