OCR Text |
Show Editorial Page Feature Russ Tread Lightly in Peace Talk Maneuvers Dedicated to the Progress And Growth of Central Ufah SUNDAY, NOVEMBER 24, 1968 Monetary Crisis in France Tliis time it is France's turn, and to view the predicament as richly deserved is a natural reaction. The nation which so conspicuously drajrtred its feet in international efforts to control the world's last great money crisis finds itself, one year later, with its own financial back to the wall, unable to halt the outflow of the DeGaulle's vaunted gold reserves and dependent on outside aid in shoring up singly high trade surplus, the Germans have the strongest currency in sight and, as a consequence, are attracting most of the hot money. They don't want it. It moans that as the pressure is on France to devalue the franc, it is on West Germany to raise the value of the deutschmark, cutting the competitive advantage of German exporters in world trade. French and German currency revaluations, painful as this would be to both countries, would not be the end of it, however. A mass revaluation of European currencies, far more extensive than followed last year's devaluation of the British pound, would certainly follow. And that would again leave the dollar exposed. The result could be the most disastrous world financial upheaval since the Depression. France's own of last spring and professional speculators are convenient targets for blame. The first crippled French production, accelerated inflation and shook confidence in the franc. For speculators, currencies are no longer standards of value based upon a nation's productive capacity but commodities, to be bought and sold for personal profit regardless of damage to the economies that support them. The real causes of the recurrent money crisis are much deeper however. The free world's interlocked economies are in the jet age, but procedures for settling accounts among nations, reliance upon an increasingly inadequate supply of gold and the traditional reserve currencies, the dollar and pound, have not advanced much beyond the era. Measures such as those taken to halt last year's currency stampede do no more than buy time. What is needed is a determined, effort to bring free world finances the sagging f. ?nc. This is no time for gloating by any of France's partners, however, as the partnership may often seem. The predicament and the peril are by no means limited to one country. To Btart with, the crisis most Immediately affects West Germany. Blessed with a booming economy and an almost embarras- one-side- ' d By K.C. THALER LONDON (UPI)-T- he SovH Union, pushing a diplomatic East-Wepeace offensive, was to be counseling understood moderation on Hanoi's Vietnam peace strategy. Diplomatic sources said Moscow wants the Paris talks to lead to a settlement of the Vietnam conflict and is advising the regime of President Ho Chi Minh to exercise restraint in the st eurrent difficult maneuvering. The moderating Soviet voice was understood to have been raised in late contacts with the North Vietnamese in Hanoi and with the letter's envoy to the Paris talks, key poiithureau member Le Due Tho while Tho was passing through Moscow. Diplomats said the Kremlin is treading with great caution, however, because of Hanoi's sensitivity and Ho's Insistence Take That exertlnj its Influence in Hanoi discreetly on an increasing scale in recent months and diplomats In contact with Ho insist the Kremlin has for some on complete Independence, free from outside interference from Moscow and Peking, in his on Vietnam decisions peace terms and negotiations. However, with the Soviets supplying the bulk of the vital time advised him to try to end reach political the war and settlement. 1 0 sophisticated equipment North Vietnam, planes, rockets and guns, Hanoi cannot ignore the Soviet counsel, the sources said. In fact, Moscow has been This was the case at the time when Hanoi agreed to go to Paris for peace soundings in May. Moscow, the diplomats said, including ... and That!" mm Bye Line by Add another "charmed circle" for athletes to aim at in addition to the .300 batting average, the mile or what have you: The $100,000 salary. It's reported that more than 50 ill have earned that athletes much or more in salaries or prize money in 1968. few There have always been who commanded super iuperotars Incomes. Babe Ruth's 1928 contract for $80,000 with the New York Yankees would be worth ome $200,000 in 1968 dollars. But the average athlete in the old days tamed far, far less. Things have changed. The median salary in professional basket ball today is $25,000. In pro foot- -' ball it's $22,000, with the minimum in the National Football League; et at $15,000. In baseball, horse-and-bugg- the;-media- is $17,000. y With prospects like this, what. It must be a fully can a parent tell a kid who wants' effort. If nothing else, it can be to go out and play ball instead of: hoped that the present crisis will j convince France of that. practicing the piano? Well, tell him about Denny Mc- Lain, one of this year's baseball-heroesMcLain, who is dickering-wit- h So They , ,' the Detroit Tigers for a rais. from $35,000 to $100,000, is anv accomplished organist who reports ps edly can earn as much pulling as hel during the does pitching the horsehide the;: rest of the year. It always help to have some; A thing to fall back on. the-atc- off-seas- "PS Say ; God is as necessary as the sun. Today more than ever it is possible to have faith in God because human intelligence is more developed and more educated to seek the ultimate reason for every- thing. Pope Paul VI. The Chopping Block Grasping Opportunity By FRANK These Principles? lift C ROBERTSON thing n. all be inventers indeed, I have trouble fastening and unfastening but there are millions of a safety-pi- n gadgets waiting to be invented. We can't The last occasion I had to make the remark, "Why didn't I think of that?" was when my long time friend Paul Bailey sent me an autographed copy of his new book, The Annies of God. It is a history of the military means the Mormons used in the last century to protect themselves against their enemies, which also led to occasional aggressiveness on their part. Like Paul Bailey I was raised a Mormon and have delved into its history extensively. I have learned that most of it, pro and anti, has been understandably biased, and that there is need for an unbiased account. But 1 didn't think of doing it until after my frtend Bailey did it. He took one phase of it and examined every possible source. Perhaps few Mormons today realize how much militancy there was in the church during the lajt century. Mr. Bailey divides his book into sevea chapters, beginning with the first Army of God, Zion's Camp, and ending with the one called, Perfidy, Politics and Polygamy. One of the most exciting and Informative chapters deals with he famous Nauvoo Legion and few know the impact it had on Western history. Tht book is eminently readable, it would though completely factual, and do all those who have accepted myths as facts good to read it. I have long familiar with the facts, but the bt difference is that in this book the facts k myself why fie crganized, M I at $5.95. The Establishment, whatever or wherever it may be, is under fire all over the world. It had its parallel in the days of Martin Luther, and in the American and French Revolutions, and though they were brought about by the fearless and indignant young their influence has been widespread and enduring. History has its lessons which ws greybeards are too prone to forget. On the other hand youth is too busy trying to change things to learn what history was all about. Recently, a student at Brigham Young University who is probably in his late twenties, told me that he and another student of approximately his age were told by a group of younger students, "We wish you old men would get out of our class." What chance is there, I thought, for a man crowding eighty? Yet as I look back I remember the old saying that opportunity comes but once in a lifetime, and I can remember more men who have ruined themselves by grab-brin- g too hastily at what seemed to be opportunity but turned out to be an illusion, than 1 can those who were ruined by waiting for the opportunity that never came. I might have written this book, but the chances are Paul Bailey has written it much better than I ever could. Us The other day I was reading a small pamphlet sent to me by Bob Halladay, Sec. of Utah Manufacturers Association. What interested me most were some principles of economics called, "The Ten Pillars of Economic Wisdom". The word "economics" is quite a mouthful in itself and most people will give up reading subject matter that deals with it. Actually, each of our lives are deeply involved with economics whether we realize it or not. There is nothing about it that Is not known to every normal person. To Illustrate the point, here are a few of those "Ten Pillars". They make a lot of sense don't they? Too bad our present economy isn't based more on these principles. i!!f Today In .i History . Heber Creeper Bore Vital Cargo -- Nation's Yule Tree Editor Herald: I was a very small child when my grandmother, Mrs. Rose Teasdale, would hold me up so I could see the "Heber Creeper" through the window. I still look forward to seeing this landmark that still makes its regular run. I am 21 years old and I had the thrill of a lifetime on Nov. "Heber 18 when I saw the Creeper" bring the tree which is going back to Washington, D. C. to our nation's capital and be a Christmas Tree for every American. It was a real thrill to know mat the state of Utah had a part in selecting this tree and it for its long jour- - ney. Four generations stood on Second West and 800 North to see that glorious sight and to wave at the engineer and caboose man Mrs. Rose Teas-dalMrs. Virginia McAffee, Mrs. Ken Huff Jr., Malanie Jo Huff, 2 years, and Wayne Huff, 5 months. I am sure when we stood e, there, there wasn't a dry eye or a throat without a lump in it. I only wish there had been more patriotic Americans waving the Christmas Tree on its way and feeling the thrill we felt. Mrs. Kenneth D. Huff Jr. 350 N. 985 W., Orem think of common to all of us, I think, is that we frequently find ourselves saying, "Now, why didn't I think of that?" The classic example was the invention of the simple little safety-piThe inventor Is said to have made millions, and amid the unending stream of modern inventions that little gadget is1 still in use. But just one man happened to think of it at the right time. One Jensen Nothing in our material world can come from nowhere or go nowhere, nor can it be free: everything in our economic life has a source, a destination and a cost that must be paid. Government is never a source of goods. Everything produced is produced by the people, and everything that government gives to the people, it must first take from the people. In our modern exchange economy, all payroll and employment come from customers, and the only worthwhile job security is customer security; if there are no customers, there can be no payroll and no jobs. Customer security can be achieved by the worker only when he cooperates with management in doing the things that win and hold customers. Job security, therefore, is a partner ship problem that can be solved only in a spirit of understanding and cooperation. Because wages are the principal cost of everything, widespread wage increases, without corresponding increases in production, simply Increase the cost of everybody's living. preparing didn't I doing it while I was and young strong enough to do It. yet I simply missed the boat. The net impact of the book on me was to confirm a long held belief that I admired the Saints more in their days of poverty and persecution than I do in their days of popularity and prosperity. One thing that impresses me is that the church was organized and led mostly by young men under the age of thirty. It might be well to ponder that before we condemn ail rebellions young men and women of our own day who are trying to change things. These conclusions are my own, and not necessarily those of Mr. Bailey. The book is published by Doubleday current world game All fishing records for blackfin tuna were set in Bernuda's waters. Who Would Argue mini-revoluti- That Golden Age of Sports also played a moderating role in the more recent phase which led to the cessation of American The bombing of North Vietnam. Moscow that insisted diplomats Hanoi actually passed on to American suggestions, some a for conditions Including halt. complete bombing Hanoi Wants U.S. to Get Out as Price for Ceasefire By X.C. THALER nist LONDON Hanoi's said have diplomats (UH)-ommu- price for a Vietnam war American ceasefire includes of South out to get agreement Vietnam. The diplomats, in contact with the regime of President Ho Chi Minh of North Vietnam, said Hanoi has a three-poiplan for a ceasefire ready for presentation when war negotiations open in Paris. also said The diplomats Hanoi's ceasefire bargaining probably will be so tough that the Paris talks easily could run for a year. Hanoi's price for a ceasefire, according to the diplomats, includes three commitments to be made by the United States. nt The Soviet Union, the lnfor. was intervening discreetly in Hanoi, with the mants said, full dress negotiations going that result in a settlement. would aim of getting The Almanac By United Press International Today is Sunday, Nov. 24, the 329th day of 1968 with 37 to follow. The moon is between its new phase and first quarter. The morning stars are Mars and Jupiter. The evening stars are Saturn and Venus. On this day in history: In 1869 women from 21 states met in Cleveland to draw up plans for the organization of the American Women Suffrage Association. of the In 1944 American Air Force took off from Saipan for the first raids on Tokyo. In 1961 the U.N. Security Council gave Secretary General U Thant permission to use force if necessary to settle the Congo super-fortress- crisis. In 1963 Lee Harvey Oswals, accused assassin of President John Kennedy, was shot to death by Jack Ruby in a Dallas jail. The shooting was witnessed on of people by millloni television. A for the day: thought Scottish poet Robert Gilfillan said, "There's hope for every woe, and balm for every pain, but the first joys of our heart, come never back again." The opinions Use fresh cranberries strung with a needle on heavy thread for a colorful, and state-ren- ts expressed by Herald columnists are their own and do not necessarily reflect the views of this news paper. Christmas tree decoration. BERRY'S WORLD BY JAMES 0. BERRY a jl I. 1 They were: An accord in principle on a coalition government in Saigon, composed of members of the South Vietnamese government, the Viet Cong and some Buddhists. South Vietnam be given a neutral status. present Agreement in principle the United States will withdraw from Vietnam. The withdrawal would be phased. Only then would Hanoi agree to a complete ceasefire. But, if the negotiations proceed successfully, fighting was likely to be scaled down gradual, the diplomats said. , The following comes from the Springvllle Herald. Everyday at about the same time, the man would stick Hi head in the barber shop door and inquire, "How Long?" The barber would look around and tell him how many were ahead. To which the man would reply, "I'll see you later." But bt never came back. This went on every day for about a week. Finally one day, after the man had made the usual inquiry and left, the barber said to the shine boy: "That fellow is always asking me how long' then leaving. But he never comes back. I'm sure he's giving his business to some other barber because he has to wait here. The next time he shows up here, I want you to Mow him when he leaves and tell me where he goes." Sure enough, the next day the man stuck his head In the dov and asked: "How long, Pete?" Pete looked around and replied, "There's five ahead of you." "See you later," said the man-a- nd away he went ap street, the shine boy following him. Forty-fiv- e minutes later the boy came back. "Did you follow him?" asked the barber. "Yes sir, I followed him," said the boy. itt "Where'd he go?" The boy rolled his eyes and said: house." Have a nice day. Paul Harvey Gambling Adversely Affects Millions The compulsive gambler thinks he Is trying to win. In fact, he is trying to lose. What psychologists have long suspected is being confirmed: the gambler wants to lose! Today's Health, an American Medical Assn. publication, has published a study of this strangest addiction. Because compulsive gambling causes men and women to neglect families, steal, fault on bills, risk jobs and pass bad checks, it is categorized as "a health menace." Where there are 6 million Americans addicted to alcohol, mere are an equal number addicted to gambling and the lives which each affects adof our versely total entire population! One who has never lived with or around a helpless alcoholic or a compulsive gambler cannot easily comprehend the anone-four- guish which such persons suffer and inflict. Dr. Edward Silverberg, Brooklyn psychotherapist, says gambling "consumes the compulsive gambler; nothing less matters, health, children, fam- ily. He would not go to his own daughter's wedding if he could gamble." y sessions suggest a solution. The gambler is convinced he wants to win; he must be made to see that he is actually trying to lose. Proof? A compulsive gambler never stops when he is ahead. A recent book about Wall Street called "The Money Group-therap- Game" offers further evidence even in the that gamblers stock market play to lose. The book cites a specific industrialist, but most of us know many like him, who (''tes W " wasn't by N!A, even for eating meat on Fridays how do you THINK i fcsl about tht.Pilli" "He went over to your not buy the rising stock of his own company. The heir to Avon Products sold much of his stock in that company and bought Schering. Avan thereafter multiplied in value 10 times over. Schering increased only a fraction as much. Why did he not leave his money on the horse he knew was winning? That, he explained "was like shooting fish in a barrel like making love to a prostitute." He did not want a sure thing. Dr. Silverberg would say he wanted to lose. Another familiar for instance: Caribbean islands are populated by American investors who got rich dreaming of a Caribbean island. Yet, as soon as they get the island, they resume almost daily contact with the stockbrokers and are soon again giving full time to ''the money game" and hardly any time at all to the expensive toys they had thought they wanted. Mass masochism? Is the gambler trying to punish himself? I don't know. There is no concensus among psychologists. Also, the compulsive gambler is not to be confused with the 50 per cent of our population which wagers on sporting events or Saturday niglil bingo or, indeed, the majority of stock market invesi .i's. But it docs describe the popuof commercial game larity tables. Mathematics, logic and all agiee: experience "You can't win!" Yet Americans of large and small' estate annually pay $S0 billion to prove . ROMANIANS FLKE ISTANBUL (L'l'l) Eleven Romanian tourists Wednesday asked lor Turkey political asylum, bringing to 21 the number of Romanians who had sought asylum in the past week. |