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BATTALION
Wednesday, September 13, 1972
College Station, Texas
Page 5
European Governments Act To Put Down Political Terrorism
European governments act-
"£>' scat ''
izeovtrWiii
kCm etro ™ m , and i( l !. t f p
consiilB
WediwdiJ
fean monetary fund. Both
ms were steps toward unity
hew Common Market,
for WeslBi^ UnS anC ^ K r<? nades of the
n jliiiiibj|
Cairo!
terrorists at the Munich
.Games brought the is-
- terrorism to the" front.
! ..|KC rs °f finance and foreign
pt '* r fl ^of the 10 governments
Unanimously to take a
joint stand in the United Nations
against terrorists, and tighten co
operation among their own se
curity forces.
The new monetary fund will
start operations next year as the
forex-unner of an integrated cen
tral bank for the 10 countries
with a common cui’rency to chal
lenge the dominance of the U.S.
dollar on world markets.
Foreign Minister Maurice Schu
mann and Finance Minister Val
ery Giscard d’Estaing of France
both spoke in the final session of
the two-day meeting at the 400-
year-old Aldobrandini villa out
side Rome. They were reported
to have said they saw sufficient
progress to hold a scheduled sum
mit meeting of the 10 countries
in Palis on Oct. 19.
President Georges Pompidou of
France is due to make the final
decision on the summit at a Cab
inet meeting on Friday.
The ministers also decided to
hold another meeting Oct. 20-31
to take joint action against in
flation.
Both Giscard d’Estaing and
West German Finance Minister
Helmut Schmidt proposed joint
action to curb x*ecent spectacu
lar price rises in Western Eu
rope. Giscard d’Estaing suggested
pex-centage limits be set for price
increases. Schmidt says he wants
to limit the expansion of ci’edits.
But he added that special consid
erations would be given to coun-
tx-ies with an unemployment prob
lem, meaning Britain and Italy.
Most governments feel that
when they have heavy unemploy
ment they must expand credits
to get business moving faster.
In the beginning the new mon
etary fund will serve more as an
assertion of European indepen
dence than as a possible weapon
against monetax-y crises. Its ma
jor job is to hold the relative
values of European currencies
within narrow limits, permitting
a fluctuation of no more than 2%
per cent.
It will do its bookkeeping in
the Common Market’? ‘‘unit of
account”—equivalent to the U.S.
dollar before the devaluation of
last December and worth about
.fl.OS 1 /^ at the present rate.
The fund will be run by the
governors of the member coun
tries’ central banks under the
guidance of the member govern
ments. Some of its functions re
main to be worked out, including
the roles to be played by gold
and dollars in its operations.
McGovern Campaign In The Red
dividu
I
WASHINGTON — Forty-
two labor unions and wealthy in
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I
als have loaned more than
$2 million to 1 Sen. George McGov
ern. But the South Dakotan’s
presidential campaign is in the
red and his fund raisers are far
behind those of President Nixon.
Heading a list of five labor
unions which have loaned or con
tributed more than half a million
among them is the United Auto
Workers.
Financial reports filed with the
general Accounting Office under
a new elections law, showed on
Tuesday the UAW loaned Mc-
Govem $200,000 through two po
litical action committees and con-
■ tributed outright $75,000 more
through a third.
The Communications Workers
and the Machinists each have
made loans of $100,000 while the
Ctif and Chemical Workers have
Contributed $25,000 and the Meat
Cutters $12,500. All contributions
pr loans have been made through
special committees since unions
apd businesses are barred by law
from giving directly to a candi
date.
The balance of $1.5 million col
lected in McGovern’s loan pro
gram has come from wealthy in
dividuals including Alabama civil
rights lawyer Morris Dees, a Mc
Govern finance man who has
loaned $190,000 and six others
who 1 have made loans of $100,000
or more.
The total of $2.00 million in
loans is more than one-third of
the ,$5 million McGovern has col
lected between June 28 and Aug.
31, the end of the reporting pe
riod.
Latest reports from all candi
dates and political committees ex
pecting to spend more than $1,000
this year wei*e due Sept. 10. But
the GAO is expected to take the
rest of the week or more process
ing the avalanche .of paper. „ ^
The fm m
reported cash on ‘ Viand ’Xiig. M n
of $4.1 million. Twenty-three af
filiated committees — about half
of those expected to report —
show combined cash on hand of
another $2.5 million.
Largest Nixon contributor in
the new reports is Walter T.
Duncan, a Bryan, Texas, rancher
and land developer who has con
tributed a $126,000 total to 21
separate committees.
The six. largest individual lend
ers to McGovern are: General
Mdtprs. heir Stewart Mott of New
York who loaned McGovern $100,-
000 Oh Aug. 17 to push his total
loans and contributions for the
yepr near the half million mark;
New York real estate man John
Tlshmati, $150,000; Cleveland in
dustrialist Howard Metzenbaum,
$100,000; Baltimore real estate
developers Robert and Harry Mey-
erhoff, $100,000; Chicago attor
ney Howard Weiss, $100,000 and
AlVa T. Bonda of Cleveland, $100,-
000. '
TRY~
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