< © sts i 3 physical— -development. “Canada, I believe, is eapable fof a major spurt of economie growth comparable with that éf ; the United States after the First World War; but to do this we }imust have the capital now and ‘| for a long time into the future.” | Mr. McLaughlin called for an end to the present fixed ex- | change rates for the Canadian | dollar. .| "The present system, he said, */ often forces monetary and fiscal policy to run directly counter to /domestic needs. | 14 The Guardian, Charlottetown, Fri., April 29, 1966., jin her over-all economie—not jserves and U.S. dollars in bene-| aan WERE CHANGED Ontario used to have 196 lakes | oN Mud Lake and 64 stil | fitting the U.8. balance of pay. \share the name. Only at Taylors .. . ments. ted URGES SURVEILLANCE He suggested that the idter- | national monetary fund provide a system of surveillance on ex- change rates so they cannet be manipulated by governments as |weapons of “economic war- \fare.”” ; | “Parenthetieally I should like | ito make it quite clear that in, | jmy opini a floating exchange | \rate for Canada would not mean | ja fall in the present external W iamend. AT 25% SAVINGS DURING OUR BIG APRIL DIAMOND BALET “It washes _ | 24 pounds in less than 30 minutes ce | : ivalue of the Canadian dollar. | In spite of some contrary views, | \the Canadian dollar has been, land I believe will remain, strong.”” A “floating” or flexible ex- pe rate, on the other hand, jwould provide an automatic -|balance of Canada’s gold re- @e 9 ssweiiers Dial 4-4253 |} we PROGRESSIVE CONSERVATIVE NOMINATING CONVENTION . For ‘121 Grafton St. Miia a No wonder she’ ‘s dvantionk Most ordinary washers take several hours -*o wash a 24-pound load! : eS | ~ CHARLOTTETOWN : SHERWOOD - PARKDALE and ROYALTY 5th and 6th Queéns ee et Ee Stewart Street Charlottetown. FOUND ON BRITISH SUB Barbara McVay, 17, Balti- ‘more; sits in the rear of a’ police car after she was dis- eavered as a stowaway on the at the mouth of the Delaware and Chesapeake Canal, where she was picked up by Delaware State Police. No charges were | filed. (AP. Wirephote) i Sum sren aioe Se tes teoe nt ae Discriminatory Canadian leg- } islation should be repealed at | the same time. | Canada’s great need for out- side capital. arises from its | position in relation to the United British Submarine, Walrus. The sub had left Baltimore enroute to Scotland when Bar- bara was found’ and put off, Foreign Capital Welcome Urged By Bank President NEW YORK (CP) — Cana-|{coura ed, b ‘States, Mr. McLaughlin said. dians should welcome foreign sonay y, Canadian law cor |” when the economic histories | ae and worry less about! The government should ty to ‘of our ‘two countries in the 20th | he so-called threat of foreign|raise a “legal border” to s 1 ead th are written, it will be domination, W. Earle McLaugh-|the smuggling of foreign Jaw |Said that, Canada was about se | at of the nk.| and_regulation. inte the country.:'years_ behind the .United. Staten | open see reel THEATRE | “MONTAGUE | °-he told the Economie Club of ‘New York. | “Foreign “owned subsidiary j~ eorporations are Canadian cor- | Matinee Sat. 3:30-8 p.m. Friday 9 p.m. Sat. 8 & 10 p.m. D.S. T._ Adm. 30c - 0c - 75¢ special plumbing or wiring needed. . © 4. Needs less than 9 gallons of water. Uses less detergent—and ‘there's @ suds-saver tool tute arying. = dict WASHER/SPIN DRYER porate citizens, and, at least in | my experience, “they are good | eitizens,” he said. Nevertheless, the whole ques- | tion of foreign capital in Can- | PREMIER W. R. SHAW, Guest Speaker ada has become “fodder for "The Jewels" Lewis : , emotional debate and for some te delegates detannstee nud liked teed. Playing Seve» Roles — Jerry Lewis js Seven Times Funnier Each Pot may be rep! ed by five voting efficial policy and action.” low, Circus) Clown— Air Plane Pilot-— Private Detective Mr. McLaughlin said there is Gangster, Bodyguard, Ferry Boat Captain. None Better. a real need, however, for leg- isilation that would insulate Ca- nadian corporations — including ’ foreign - owned Canadian cor- porations—from foreign laws or Tacdinties that reach | across Few as Good. Coming Monday, Tuesday, May 2-3 “Take Her She’s Mine’’ James Stewart, Sandra Dee. -Alse Cartoon. WELCOME a es Trade-In Your ‘Old SSeS A Laugh A Second — Romp with the Screen’s Funniest Fel- t | Pay Even. Less! “the border. Tear ee ee ee oes UR ASE “Sometimes foreign laws or regulations affect a foreign- owned Canadian corporation | through pressure by the foreign _government—on the—foreign aes ent corporation. “The subsidiary is then denied the right to do something that may be perfectly legal, even en- | e ° j Business Briefs | VANCOUVER. (CP) — Can- | ada‘s largest forest company | has changed its name. _. At. the. annual. meeting Tues- day of MacMillan Bloedell and | Powell River Limited, share | holders approved a change in | the company’s name to Mac-— Millan: Bloedel Limited. KINGSTON,. Ont. (CP) — DIi- rectors of Empire Life Insur- | ance Co. have voted to split the | stock on a 10-for-1 basis sub- | ject to approval of a_ share- | holders meeting called for May | _ 16: The -company’s-.shares were | selling at $199, up $19, on the Toronto Stock Exchange - Wed- | mesday. It has 64,048 shares out- | standing of its authorized capi- | ‘ talization of 200,000. shares. TORONTO (CP) — British | American Oil.-Co. Ltd. an- nounced Thursday it is raising its quarterly ‘dividend rate to. - : JOHN WRIGHT - The Hoover Representative will he at Holman’s in Charlottetown APRIL 29-30 ASK: for a DEMONSTRATION ! SEED Gna New Model 883 HOOVER DELUXE VACUUM Super powerful suction’ lifts.out deep-down dirt im your rugs. New extra-durable hose eliminates Buy. one new B. F. Good- rich Tire at the Regular Price, get an_ identical B. F. Goodrich Tire for T 27% cents from 25 cents. The | oh T R kinking or cracking. Built-in attachment caddy increased rate will be paid for Plus Two Retreadable keeps the complete set of cleaning tools right at the second quarter, on July 2 Trade-Ins your finger-tips. Fully guaranteed for one year’s for shareholders of record June ‘| service. Floats on air, no tugging. 8. Reg. 69.95 NEW YORK (AP)—Interna- | B. F GOODRICH FREE MUFFLER an Te tional Business Machines Corp. | SPEC ¢ said Monday~it- plans an -offer- | INSTALLATION ze ff ing of stock to shareholders 1n | » NO DOWN PAYMENT, 7.00 MONTHLY order to raise about $350,000,- WHITEWALL BONANZA SPECIAL ‘ 000. | : r Y The funds would be used to | d BLACKWALL 1958-1964 CHEVROLET i finance increased production of | : ( system-360 computers: for which | an *s ONLY AN Bright Shiny Floors quickly easily! * the company said there is an : 9 : ‘unprecedented’ backlog of or- Hl OVER ders. TIRES ; Installed NEW YORK (AP) — General | Motors Corp. has reported | a decline in earlings in_ the | 1986 first quarter from the level of a year earlier. 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Construction Coca Cola ; work will commence. immediate- / i “a ‘Ivy on the East River, Lunen-- The first 25 Lady Customers burg County site, Mr. Jolly said will receive a carnation or rose ee =3< Anil, Canada announced plans last August to build a hardboard . AA plant in Nova Scotia with the as Wi X sistance of Industrial Estates WS. Peters Road, Parkdale Dial 894-4912 or 962-2310 Ltd.