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July 24, 1963 - Image 3

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Publication:
Michigan Daily, 1963-07-24

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1963 THE MICHIGAN DAILY

PAYMENTS PROBLEM:
U.S. To Borrow from IMF

By STANLEY MEISLER
Associated Press News Analyst
WASHINGTON - For the first
time, the United States is at the
door of the International Mone-
tary Fund as a borrower.
Few people prophesied this
when the fund was founded at
the United Nations Bretton Woods
conference in 1944.
But obviously times have chang-
ed. The United States, which had
huge supplies of gold in the early
post-war period, has found its
supplies dwindling.
That is why President John F.
Kennedy told Congress last Thurs-
day that the United States has
been authorized to draw up to
$500 million worth of currencies
from the fund this year.
Classic Case
This transaction is a classic
example of how a nation uses the
fund when it has a balance of PIERRE-PAUL SCHWEITZER
payments .problem. That's what.. heads IMF
the fund is for, and other coun-
tries have been using it for years. in America, and other sources of
But, though classic, the transac-finme,.
tion is a little difficult to under- foreign money.
stand. One weapon was the use of the
The United States has a balance International Monetary Fund.
of payments problem because it , Kennedy said the. fund, which
sends more dollars overseas than has $15 billion worth of currencies,
it takes in. The total of foreign had reached a saturation point in
imports, military spending abroad, dollars; its members, according
American tourist spending, and to the rules, no longer could pay
United States foreign aid is great- off their debts in dollars.
er than the total of United States This would mean that countries,
exports, foreign tourist spending in order to pay off their debts,
Haber Points toNecessit
OfWell Educated Persons

-Daily-Kamalakar Rao
WORLD PEACE-The General Library is currently displaying
books and documents dealing with efforts to achieve world peace.
Among the articles on display is a copy of the United Nations
Charter received by Sen. Arthur H. Vandenberg in 1945.
SExhibits Works
Related to WorldPec

'-

A group of books and docu-v
ments representing efforts toward
world peace throughout the his-
tory of the world is currently on
display in the main corridor of
the General Library.
Beginning with a very early
Across
Campus
Prof. Robert C. Angell of the so-
ciology department will speak on
"World Context for Successful Dis-
armament" at 4 p.m. today in Aud.
A.
Bible Sources...
Prof. George Mendenhall of the
Near Eastern languages and lit-
erature department will speak on
"Some Sources of Old Testament
Texts" at 8 p.m. today at the New-
man Club.
Quartet.
The Stanley Quartet will give a
performance of Haydn, Gerhard
and Beethoven at 8:30 p.m. today
in Hill Aud.

edition of the Bible and ending
with the encyclical on peace given
by Pope John XXIII, "Pacem in
Terris," on April 11, 1969, the dis-
play spans in chronological order
centuries of the peace movement.
Grotius, Pufendorf
Two of the best known works
included in the display are Gro-
tius' "De jure belli ac pacis, 1625,"
and Pufendorf's "De jure naturae
et gentium," published in 1688.,
Works by Thomas Aquinas,
Erasmus, Dante, Leibniz, William
Penn, Rousseau, Kant, and others,
are also included. Some of the
works are original editions, in-
cluding Grotius' document and
one by Kant.
. Vandenberg Copy
The William L. Clements Li-
brary loaned a copy of the United
Nations Charter which was re-
ceived by Senator Arthur H. Van-
denberg in 1945. He was a dele-
gate to the UN conference in San
Francisco and presented the copy,
one of the first 110 printed, to
the University.
The exhibit includes material
from other world organizations
and groups that have worked for
peace, such as the League of Na-
tions and the various world courts.

(Continued from Page 1)

permit Michigan to copy Cali-
fornia's plan.
The Master Plan was put into
action in California in 1959. Cali-
fornia's public educational sys-
tem is divided into three types of
institutions-the university, the
state college, and the junior col-
lege. The adoption of the new
system was designed to define the
function of the three institutions
in such a way that any duplica-
tion of efforts would be eliminated.
The entrance requirements were
tightened and only the top third
of the high school graduates were
eligible to enter state colleges. The
university began to admit the top
12.5 per cent rather than the pre-
vious 15 per cent. The junior col-
leges expanded to handle even

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OFFICIAL

BULLETIN

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_I

Nudettin Fidan, Grad Student, Re-
search and Statistics, Turkey, July 28-.
Aug. 3.1
Placement
POSITION OPENINGS:
L. G. Balfour, Jackson, Mich.-Open-
ings for Sales Representatives to sell
class rings, yearbooks, etc. to high!
schools & colleges in Western part of
Mich. Prefer residents of this area. Con-.!
siderable travel involved. Men-college'
required, prefer degree. Experience not
necessary. New graduates & up to 30'
yrs. of age.
North Carolina Symphony Society,
Inc., Chapel Hill, N.C.-1) Field Repre-
sentative to assist with community
membership drives involving the set-j
ting up of committees & other organi-
national work. Assist with publicity &
advertising. Will be advance agent while
the Orchestra is on tour. Position may
be arranged on a 9-month or 12-month
basis. An auto will be required. Age 22-
45. Pertinent degree. 2) Opening for
Secretary which could lead to office
supervision in charge of secretarial
staff. Require typing, shorthand, etc.
Degree with pref. some training in Jour-
nalism. Age 30-40, interest in music,
etc. Will prepare publicity kits; write
news releases, radio plugs; circulate
tapes & display material, etc.
Junior Achievement, Detroit, Mich.
-Seeking 3 men-public relations types
with octgoing personalities to contact
business firms, call on high schools,
speak to students & eventually coordi-
nate & supervise activities. One man
ORGANIZATION
NOTICES
German Club, Coffee Hour, July 24,
10-12 a.m. & 2-4 p.m., 4072 FB. Conver-
sation, Music, Singing, Refreshments.
Herzlich Willkommen!
University Lutheran Chapel, Book Re-
view by Barbara Alm of Martin Luther
King's "Strength to Love," July 24, 9
p.m., 1511 Washtenaw. Midweek devo-
tion, 10 p.m.

for each of the following locations: Lin-
coln Park, East Detroit & main office at.
Grand River. Degree preferred.f
Management Consultants in East-1)3
Research Physicist-PhD Physics or
Phys. Chem. 3-12 yrs. exper. in research7
(aerosols or related areas); 2) Process
Dev. Engnr.-ChE degree or ME withf
strong chem. bkgd. 5 yrs. exper. in
pilot plant operation or process dev.;f
3) Package Dev. Res. Engnr.-BS or MS
in Packaging Engrg. or ME with good1
chem. bkgd. Exper. as a PackagingE
Engnr. 4) Process Dev. Engnr.-BS ChE
& 5-10 yrs. exper. OR , MS with over 31
yrs. exper.
Ohio Fuel Gas Co., Columbus~ Ohio-
Seeking Public Relations Representative
-woman. BA with work and/or exper.
in public speaking. Teaching would be a
partic. useful bkgd. Age 25-30, attrac-
tive, well-groomed, etc. Will (1) plan &
write talks describing 'the operation of
the Co., (2) will plan & direct the pro-
motion of these programs, (3) Will pre-
sent talks to men's & women's service
clubs, PTA's, church groups, etc. In-
volves traveling throughout much of
state of Oh'io. Interested only in per-
sons who will agree to keep this job a
minimum of 3 ygs.
Parker Pen Co., Janesville, Wis. - 1)
Product Engnr.-Minimum BS in ME:
2) Process Dev. Engnr.-Metallurgy-BS
Met. or Met. Engrg. with major in
Physical Met. 3) Research Scientist-
Chem.-All degree levels with appro.
exper. 4) New Process Dev. Engnr.-
Plastics-BS ME or ChE with interest
.,,,,, . ...,,......................... :.:. ": .} : .
Medical
Books
at
Overbecks
1216 S. Univ.

in plastics & 2 yrs. exper. in, thermo-
plastics. 5) Business Manager-BBA &
at least 5 yrs. exper. with some tech-
nical orientation.
Management Consultants in Mass. -
1) Supv., Field Sales leading to Market-
ing Mgr.-Indust. Engrg. bkgd. plus
exper. 2) Products Mgr.-3 yrs mkt.
type bkgd. 3) Capital Budget Account-
ant--Graduate with acc't. exper. or de-
gree & at least 3 yrs. exper. in Capital
Budgets & forecasting. 4) Control & In-
strumentation-Degree pref. EE plus 10
yrs. exper. 5) Sr. Systems Analyst-
Degree plus exper. In systems analysis
with electronic data processing.
Washington Civil Service - Social
Service Training Officers-MA with ma-
jor study in Social Work & 1 yr. admin.
or supv. exper. in social work. For
higher level positions, ,more exper. is
required.
* .4 *
For further inforin*tion, please call
General Div., Bureau of Appointments,
3200 SAB, Ext. 3544.
SUMMER PLACEMENT SERVICE:
Evan's Crowder,; South Lyon, Mich. -

-1

"GREAT FUN
-Gilbert, Mirror

TODAY ~j j DIAL
through 8-6416
Saturday
AWARD WINNING MOTION PICTURES THAT SHOCKED i
AND THRILLED AUDIENCES COAST TO COAST...!
Wnner of 2 Academy Awards-plus
1 Internatlonal Awards
gRO M <..

dJeK _- 8IRLEY

,

I

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