If It's‘Good For The Island

' The Guardian Is For It

VOL, LXXVIIL. NO. 7

ON HUNGER STRIKE ; , re wete eight lesser g t

Jack Waters, 37, of Sudbury, Ont., and formerly of St. Tho- mas, Ont., Friday started. a hunger strike which he hopes will stimulate Canadians to

US. Treasury To Seek Change z2.csseaEyeeee >

WASHINGTON (AP) .. The

\

“Covers Prince- Edward Island Like The Dew”

Deparueest Guava, Gia es EO cae CHARLOTTETOWN, CANADA, SATURDAY, JANUARY 9, 1965. “un SEVEN CENTS = - i

Priceless. | Danger Of Broad.

Sapphire | ee Rerered Grows In § outheast

By ARTHUR EVERETT SIT ATION NORMAL

NEW YORK (AP)—The Siar a * | |of India was back at' the Amer- | S jican Museum of Natural His- , 04 ’ tory Yriday 10 weeks after it a was stolen in a $410,000 jewel oney upp y n a | robbery " * oo pe 4 The sky-blue sapphire and © his teL ie leight other museum jewels | . ° ® eo if * \were found in a public locker | | , Ae : jin Miami, Fla., encased in a/| ncreases y | } a ee het rotting, chamois bag | _ J ‘ 3 ; iat Accused of the theft are Flor- - : ‘ida beach boys Allan Kuhn, %;| OTTAWA (CP) The pub-, As high as that may seem, it ;cent, or by $1,074,000,000 to Ja (Murph the Surf) Murphy licly held money.supply in Can- is a smaller increase than in| yearend total of $18,192,000,000. | 27. and Roger Clark, 29. ada rose by $1,059,000,000 during the previous Canadian expan-; Interest rates have | ,Kuhn arranged the recovery | 1964, sions of comparable length and fairly steady. In fact they of che Star of India and the, ‘That spells “easy mapey’— vigor and also is smaller than/no higher now than when other gems | justeasy esough, in the view of |the price increases in nearly expansion .began nearly Asked about reports the jew-| informed observers here, to every other major country. years ago., jels were recovered in a deal im|heip encourage the economic By which the three accused me®! expansion with an adequate | would escape with light prison | supply of ‘relatively low - cost iy. |terms, perhaps as little as one | reqit without feeding the for-|the life of the current expan- | , ; jor two years, District Attorney | 14. of inflation. sion. In ‘the ast year they | long-term: rates in, Canada’

P eign - up to the| ‘This tickliaiy job of safeguard-|Swelled by a little over 15 perjone to 1% percentage i |judge. As a matter of policy, |ing the int@grity of the dollar’ “above

i ! , . U.S. In the

anyone who co-dperates with |With a monetary policy appro- | P ‘

the district attorney gets con. | priate to Canada’s domestic | oya a hes

sideration, and the extent. fd anes Ciacuramiancet | ; Bo

nic cpspetotion 4 nell a ae tS Heads Home vosecn,

Os \to the judge. Then it's up to the |ada. "* "5 |

Pe | judge.” Its-latest statistics show a to- are

=<! ; 3 : ‘ | §ARGANG, Switzerland \Reu- " F

| OTHERS WERE lal _ money _ supply ot public | ses) Prince _Philip, 2 0 Recovered with the

sist.

Missing were 15 take a personal imerest iin of- he will ta ke only tea, wa | ene ine ne, ae ganizations trying fo help the ter and milk. Here, he pre | oq mos perfect of # world's. hungty. Settled in a pares letters to corporaiions | the world. .

ofe_| r ers “ ; ce ee 2a. ‘ : a nd A Ag Ft a4 ; ; j

$12-aday in. the Royal seeking funds. '* The * pdiig ae we os ember. aaa

York Hotel in Toronto be says (CP Wirephoto) | nism of Oct 00 teem thaie % ance yy FR nay be to display cases in a f iT : w ning ong

| Hall of Minerals at the mu-

ae

oot st a tey = bor Car Hee In

bail_in the museum theft, were arresxed in Miami New ¥

In Gold Reserve Requirements: ::"— = SSe =" ome om apes 5 ae

U.S. treasury said Friday it will ask Congress to change the law requiring a 25-per<ent gold backing.on domestic money, At the same time, it reassured foreign governments they may convert to- gold any U.S. dolla; they hold. ,

Seme speculation in foreign exchange markets was sétoff by several unrelated develop- ments, the treasury said.

These developments included: —k was reported President

Johnson tentatively plans to

ask Congress toe eliminate the

gold cover that backs the U.S.

banking system while retain

ing the gold requirement sup porting currency.

On the gold cover, the an- nouncement said:

“While legislative action will undoubtedly - have-—-to—-be--re- quested of the Congress, the form and timing of the request has not been finally -detér- mined.” ;

CHANGE 1S NEEDED

The change will be needed, the treasury said, ‘\o assure the availability of credit in a grow- ing domestic economy and to rel’. > any doubt ‘hot may re- main anywhere the U.S. gold supply stands firmly behind the dollar in international markets at the immutable price “of $35 (an ounce)”. ted States has about

Removal of the 25-per-cent gold cover on bank deposits would

Take Sharp Loss #

nounced any sanlet (UA) th ounce tiace 16 end the

| $150,000,000 into gold, France |Temounced her American citi- | will hold about $1,200,000,000 in | 2enship

gold and removal of the cover gold. Some $700,000.00 of on ‘both bank deposits and cur- | amount is expected to be.

would release $13,600,600,- | by the French to coVer the toe lit owes’ to the United States | coos major reason for the ja

this held | detx } and

squeeze is that the amount of| In addition, the treasury 4h-

;money in citculation and in| nouncement said, France re-

bank deposits. is increasing Dv- quires a working balance of

cause of bigger incomes and | about $40,000,000 in U.S. dol-

business earnings. Thus addi- | lars.

tional gold backing will be| France usually converts about | her

needed unless the legal Teq.ire- | $30,000,000 worh of dollars a | Jan--4; 1964.

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ment is lowered. : month and a further adjustment ‘will concentrate pa | While U.S. citizens have =F usually” made at. mid-year. | 7.2 nae sane ote we models in the Canadian i been able to swap currency for | France converted about $100; | S sige Argus confine other models

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gold since the US. pag inion aa in dollars in mid-1963 strict gold standard in 1 - [and a similar transaction was e 5 : eign governmefits are permitted [carried out in mid-1964 = Aids Search

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to exchange any U.S. dollars | time, the French decided to re- capital reported next . Most Canadian 5 they sccummiste for geld et the view their monctary reeves | oe Fi h "Shp Gecetion Meosttie. rans. The rontain about 40 per cent of fixed price of $35 an ounce. | at the end of the year. is e with a crew of eight was|trade arrangement . 7 ;

ai i

EMPHASIS ON MOVE pplies from France to | auto industry agrees | Treasury officials said the | Liz Renounces the United Nations forces on the Canadian share of a * [French action held no great | the Egyptian lereeli border. | American, output. This : tng, aad’ the en | nding fell a fighter plane |from’ flooding “(he “ " French themsel for actress Elizabeth T; aon Gee eine a ign at the e eros th | : j man ‘ay- , change ‘T cars 4 ve After the conversion of the | or said Friday the actress had and flew to Nicosia air-jof their subsidiaries in— eee

John Springer, Miss Taylor’# agent here, said’ she elected to

, itizenshi t- France Germany us the citizenship of her Brit

Sign Trade Pact |, Miss Tavior is married

Welsh-born actor Richard Bur- |

ee . i Corer ia S'ner car_mare| Beleer Planning P — sao Friday. The East German pena Party Decision ‘

will export mainly

. }tools and textile and ay : \ we 7 ok

chinery in exchange f agreed” Gredaeia

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