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March 15, 1975 - Image 3

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Publication:
The Michigan Daily, 1975-03-15

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Saturday, orch 15, 1975

THE MICHIGAN DAILY

rage t hree

aturday, Morch 15, 1975 THE MICHIGAN DAILY rage three

Ghana's chief of
state sees peace
with South Africa
ACCRA, Ghana (P) - Ghana's chief of state is convinced black
Africa's territorial and racial struggles with South Africa "are
passing" and "will give way to permanent peace" in his
lifetime.
Col. Lgnatius Acheampong, chairman of the nation's ruling
National Council of Redemption, said in an exclusive interview
that the determination of the black "to fight to the end to be
free was bound to lead to an explosion," but now "people are
begining to understand the uselessness of war."
When the colonel in February 1972 led the coup that ousted
the three-year elected government of Prime Minister Kofi Busia,
he criticized, along with charges of "general mismanagement,"
Basia's intention to seek a dialogue with South Africa.
GHANA, the former Gold Coast which 15 years ago became the
first European colony below the Sahara to achieve full inde-
pendence, has been a Third World leader in supporting African
liberation movements. It still sets aside places in its universities
to train rebel leaders to take over white African -governments.
Acheampong, a 44-year-old infantry officer who so far has
declined suggestions from various tribal chiefs that he assume
the title of president or prime minister, told The Associated
Press emphatically "we will not form a political party, encourage
party politics or establish a political base."
The chairman, as he prefers to be called, refused to be pin-
ned down on just when elections would be held or when the
handsome parliament building, now given over to government
offices, would again receive a legislature.
HE STRESSED that Ghana's economic recovery andachiev-t
ing self-sufficiency in food supplies took precedence over all
other problems.
When the military government took over, Ghana, the world's
largest cocoa producer and a leader in gold, had a trade deficit
of $175 million and was on the brink of bankruptcy.
Acheampong cracked down on imports, especially imported
foods - which the colonel denounced as "the tinned sardine and
corned beef mentality" - and launched "Operation Feed Your-
self" to make Ghana eventually self-sufficient in rice and
maize. These programs, plus a dramatic rise in the price of
gold and cocoa, enabled the government to announce surpluses of
$125 million for 1972 and $130 million for 1973.
ALTHOUGH HARD hit by the increase in oil prices, Acheam-
pong hopes to "break even at least," for the fiscal year ending
in June.
Pointedly reminding his interviewer that "the United States
has not ratified" the cocoa price increase, the chairman said
he "could not agree more with the Shah Mohammed Reza Pav-
levi of Iran that the producing countries of the world do not re-
ceive fair compensation for their resources from the consumer
countries. The Shah is absolutely right, even though his policies
have affected us badly."
ACHEAMPONG, a Roman Catholic and father of seven child-
ren, said his main philosophy of government was to make
Ghana "a happy, healthy place to live. We want to achieve
a welfare state but just what kind will ultimately depend on
the people."

FOOD ACTION
COALITION
presents

FOOD

WEEK

AP Photo

Strantge bedfellows
When the Law of the Jungle was written, Higgy the Chimp and Azizi, a two-month-old lion cub, weren't reading. The two
have formed a fast friendship in the Lion Country Safari animal refuge in Laguna Hills, California.
FORMER PRESIDENT BOUND FOR EXILE:
Portuguese nationali~ze banks

SATURDAY, MARCH 15
ALL DAY-Modern Lang. Bldg. Aud. 4-
10 A.M.-Panel Discussion: "Old Habits,
New Changes in the American Diet: Who's
in C o n tr o I?" PANEL: Frances Lappe,
Author "Diet for a Small Planet;" Danny
Zwerdling, Washington Journalist (food
monopolies); R o b e r t Seymoure, Project
Apache, Nutritionist.
VEGETARIAN LUNCH - VEGETABLE
UNION. $2.50. Tickets may be bought in
advance from UAC, Vegetable Union and
FAC.
1 P.M.'- Panel Discussion: "Changing
Structure of A m e r i c a n ~Agriculture."
PANEL: Dan McCurry, Food Co-op Project
of Loop College, Chicago; Hwerman Koe-
nig, MSU Dept. of Electrical Engineering
and Systems Science; Richard Rodenefeld,
MSU' Dept. of Sociology.
3 P.M.-Panel Discussion: "Consumerism
and Advertising: Impact on Food Choice
and Availability." PANEL: Nancy Codi-
spoti, A c t i o n for Ch ildrens' Television
(ACT; Esther Shapiro, President Consumer
Federation of America; Joan Gussow, Nu-
tritionist, Columbia University.
6 P.M. -AFRICAN DINNER-Memorial
Christian Church (Hill and Tappan).
9 P.M. - VEGETA'- BALL (or a NON -
MEAT-BALL), Union Ballroom. A Costume
Party and Be n e f i t. Entertainment by
FRIENDS ROAD SHOW (mime troupe).
All lectures and discussions are free

LISBON, Portugal (A') - As
hundreds of chanting clerks and
the Communist party expressed
approval, Portugal's leftist mili-
tary government nationalized
private banks yesterday, a mea-
sure without equal in Western
Europe.
Premier Vasco Goncalves de-
clared the government takeover
of the banks "the first, firm ir-
reversible step" of his regime's
"anti-monopolistic policy."
FORMER Portuguese Presi-
dent Antonio de Spinola t o o k
off from Spain, presumably
bound for exile in Brazil. Port-
uguese radio broadcasters start-
ed referring to him as "traitor
Spinola" on grounds he insti-
gated a right-wing uprising that
was quickly crushed Tuesday.
Goncalves said in a television
interview that the bank seizure
did not mean "the nationaliza-

tion of the Portuguese econ-
omy." He said private enter-
prise would still have a role to
play in Portugal's future.
He said the bank nationaliza-
tion would give the government
control of credit policy "for thei
benefit of the Portuguese peo-
ple" and added that deposits
would be guaranteed.
As the premier spoke on tele-i
vision, President Francisco da
Costa Gomes addressed a rain-
soaked crowd of about 5,000 that
gathered outside Belem National
Palace to show its support for
the move.
"THE nationalization of the
banks is the most revolutionary
law ever passed in this coun-
try, Costa Gomes said from a
parapet at the edge of the pal-
ace gardens."
The clerks marched through
Lisbon's financial district in a
downpour shouting, "The banks
belong to the people.""
One banner above the mass of
umbrellas read: "The cell, of the
Portuguese Communist party of
the Bank of Totta and Azores,"
a leading exchange.
PORTUGAL'S CommunistI
party hailed the nationalization
as "indispensable for consolidat-
ing the development of the
democratic process."
Diplomats were forecasting
that the military regime would
turn increasingly toward th e
Communist world for commerce
and investment. Though theres
was speculation about Portugal's
continued adherence to the
North Atlantic Treaty Orgaiza-
tion and the lease to the United
Statees of an important air base
in the Azores, U.S. sources said
the Portuguese had put no'ither

in jeopardy. demonstration of suppart
Official sources said aout 120 place in the area where p
moderate offciers have been de- of the Caetano regime club
tained since Tuesday, and that bank clerks four years ago
civilians prominent in the busi- antigovernment protests.
ness community also were be- The nationalization was or
ing jailed. ed after a Thursday night
sion by Portugal's new Rex
BUT AS quickly as they ar- tionary Council, made of rad
rested him, the military author- military leaders.
ities released Jorge de Melo,
one of Portugal's richest men. THE SEIZURE of million
His family owns a holding com-
pany that controls over 100 n- dollars worth of funds f
dustries. more than 200 Portuguese-h
The nationalization of private quartered banks came by
Portuguese banks was a victory I cree. Compensation was
for leftist bank unions. T h e mentioned.

took
olice
bed
for
der-
ses-
vo'u-
dical
s of
rom
ecad-
de-
rot

I'

THE DETROIT
SEVERO BALLET COMPANY
with quest choreographer FERNAND NAULT
Sunday, March 16-3:30 p.m.
Pioneer High School Auditorium
(Across from Michigan Stadium)
ADMISSION: $2.50
Made possible with the support of the Michigan Council
for the Arts

r
}F
{

U.S. industrial production
falls off fifth straight month

Daily Classifieds
Get Results

WASHINGTON oP) - The out-
put of the nation's industry de-
clined for the fifth straight
month in February, dropping 3
per cent from January, the Fed-
eral Reserve Board reported
yesterday.
The board said that indus-
trial output in February w a s
down 12.2 per cent from Sep-
tember, showing the effects of
the recession on the nation's in-
dustry.
At the same time government
officials pointed to a drop in
business inventories and other
figures as a sign recession was
easing.
THE FEDERAL Reserve
Board said the cutbacks in Feb-
ruary were widespread through
the economy, including consum-
er goods, autos, equipment,
construction products and in-
dustrial materials.
Auto assemblies were at an
annual rate of 4.6 million units
in February, down 4 per cent
below January and 30 per cent
below a year earlier. But t h e
Board said it expected auto pro-
duction would increase in
March.
The 3 per cent decline in in-
dustrial production in February
compared with a 3.6 per cent
decline in January, which had
been the biggest monthly drop
since December of 1937, when
it was 8.9 per cent. The fig-
ures were adjusted by the gov-
ernment to account for seasonal
fluctuations.
DESPITE the industrial pro-
duction figures, government
officials said other statistics in-

dicated the recession may be
nearing its low point.
The Commerce Department
said businesses sold more goods
than they bought in January for
the first time in 42 years. The
decline in business inventories
in January was $148 million.
Business inventories have
been extremely high in recent
-months, and economists say
they must be sharply reduced
before businesses move to re-
build their stocks by buying
new goods from suppliers.
THE IMPROVEMENT in the
inventories picture and o t h e r
recent developments, such as
improved retail sales, caused
Treasury Secretary William Si-
mon to say that "the economy is
now providing mounting evi-
dence that natural, cyclical forc-
es are at work and we will soon
be changing direction."
But he had little encourage-
ment on unemployment, saying
the nation's unemployment rate
of 8.2 per cent probably will rise
higher before it starts declin-
ing.
White House Press Secretary
Ron Nessen said the inventory
decline and a recent pickup in
retail sales indicate that "the
bottoming out of the recession is
on schedule."
"THE CHANGE from accum-

ulation to liquidation of inven-
tories as evidenced by the Jan-
uary figures, is a healthy sign
for the troubled economy, ' said
James Pate, assistant commer-
ce secretary for economic af-
fairs.
He said if the decline is in-
ventories continues in the
months immediately ahead, it
"will clear -the way for an up-
swing in the important industrial
sector of the economy."

I

1

"If you can walk, you can run!"
NOMINATIONS NOW OPEN FOR

!i
i
r,

I

i1

PRESIDENT
SECRETARY

VICE
TR

NOMINATIONS CLOSE 1
MARCH 29, 1975
submit nominations in wri
GEO Election Commit
Room 9, Mich. League-6

-PRESIDENT
tEASURER
0 A.M.
ting to
tee
65-71 74 _.

'-7
Y -c
If "Early American Orange Crate"
is what you find in other apartments,
see us. Our apartments are FULLY
furnished. Come on over and check
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' 4' ". 2 MIES
FC'a p~R R E - .STADIUM
The on-campus, off-campus question,
University Towers Apartments pro-
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blocks from the Diana, right next door
to evervthing.

60
There is no need to drag your laun-
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a complete Laundromat in the build-
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EIGHT GREAT
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Models Open
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/Y
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-A
You read about it every day in the
papers . . . a place is burglarized or
someone gets mugged in broad day-
light We're doing somethinq to pre-
vent this from happening to our resi-
dents by providing 24-hour security.

I

I

q

.. e..... _ --. _ _._ _.. , _____. - - - -- --

F,

F
i

TODAY!
13th
Ann Arbor
Film Festival
Screenin. today at 12:30
with performance by Per*
the clown. Screeninq tonight
at 7 & 9 Winners & High-
lights Sunday at 7, 9 & 11
p.m. at both Architecture
Aud. & Aud. A, Anqell Hall.
Tickets on sale nightly at
6 :00 p.m. No advance sales
-tickets for that's night's
performance onlv.

y /
j' yK.

) "N
,/ 1 ti1 E!I/
1A
f/I
1_ U E t°

University Towers offers more than
lust a place to live. Everyone has to
relax at times. That is why we have
things like FREE movies, ping pong
tables and a piano room.
I
t LO i
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