Page Ten THE MfCiGA DAILY Friday, August 16, 1974 Ford signs bill to allow private Nixon subpoenaed to citizens to own gold WASHINGTON (P) - A bill permitting private citizens to own gold next year for the first time in 42 years was signed by President Ford Wednesday. The legislation says Ameri- cans may hold, sell or purchase gold as of Dec. 31 of this year, although the President could allow it sooner, if he wishes. LIFTING of the gold ban was an amendment to a bill pro- viding for a U S contribution Absentee votes found - a de iive margin Over eather. P'ierce campaign aides said yes- terday that they expect a large portion of the uncounted ballots to go for their candidate. "Although there is n1 way of knowing until the votes are of- ficially counted. we hope and feet a goodly iumber of them wilt he oars. Pierce campaign co-ordinator IRobert lDwver said. C'RRENTIY Pierce a n d Reutlher are running a joint camspaign against incumbent Congressmn Marvin Esch (IR- Ann Arbor) pending the out- come of the official vote cer- tification and a recount. Once a winner is designated, he alone will continue in the battle as the party's nominee. of $1.5 billion to the Interna- tional Development Association, which makes low-interest loans to the world's poorest nations. The administration opposed lifting the gold ban, but wanted the lDA contribution so much it decided against a veto. However, Treasury Secretary William Simon said last month while Richard Nixon was still president that the administra- tion might ask Congress later for a special extension of the ban if it seemed private gold sales would cause economic disruptions. AITIIOUGII Americans have been able to own gold coins and gold jewelry, they have been prohibited fromsawning it in bulion form since 1933. Commercial gold dealers like Itandy and Itarman of New York said earlier this year that they would market gold igots in sizes ranging from half an ounce up after gold purchases were approved. The igots would vary in price according to the price of an ounce of gold and would be sold at retail outlets and through ithe mail. Major commodity exchanges also prepared contracts for gold future and initial indications were that they would offer the contracts -- promising delivery at a later date - in amounts of 100 ounces. C O IN DEALERS expanded their operations in advance of Ford's action and one large dealer, Perera Fifth Ave., Inc., initiated a 24-hour "Gold Line" next year to give c a lI e r s informations about the price of the precious metal. Minutes after the signing by President Ford was announced, Samuel Weiss & Co., a member of the New York Stock Ex- change, reported that it had begun taking orders for gold from the public and other NYSE member firms. The first mem- ber firm to be atuhorized by the exchange as a bullion agent, Weiss has completed ar- rangements with a minerals concern to sell investors gold bars in sizes ranging from 1 troy ounce to 50 ounces. A troy ounce is 2.8 grams heavier than a standard ounce. A SPOKESMAN at Weiss said the firm's bullion prices would be tied to the rapidly fluctuat- ing gold prices quoted in world markets and would include the firm's own commission of six or seven per cent. President Franklin Roosevelt imposed the gold ban in a ma- neuver to drive up prices of goods during the depression. The idea behind the tactic was that as Americans sold their gold to the government, which was required, they would then spend the money they re- ceived on other goods, and that would drive up prices. THE OPPOSITE situation ex- ists now. With high inflation, some Americans may wish to put their money in gold hoping its value will be more stable than money. 1214 S. UNIVERSITY DIAL 668-6416 DOUBLE FEATURE ! Joanne Woodward Summer Dreams Fri., Mon., Tue. 9 P.M, Sat Sun Wed. at 2 45 6 05 and 9:20 _____PLUS Eric Ruhmer's "CLAIRES KNE" Fri., Mon., Tue. 7:45 Sat., Sun., Wed. 1 P.M., 4:30, 7:45 testify at aide's trial (Continued from Page1) - THE GRAND jury which in- dicted the other defendants is still sitting. The subpoena was to be de- livered to the seaside Nixon residence in San Clemente by a U S. marshal, probably today. It said in part, "You are here- by commanded to appear in the United States District Court .. . to testify . . . and to remain until called in for trial." NIXON IS free to challenge the subpoena in court. There was no immediate reaction from the former president. While Nixon was still in the White House, repeated attempts were nade to subpoena presi- dential notes, records and tapes. At the request of defendants in a Clifornia state Watergate- related case, a judge issued a subpoena for Nixon to testify. The court case was dropped, however. NIXON ALSO provided writ- ten answers to written questions in the Ellsberg break-in case, in which Ehrlichman and three others were convicted. An attorney familiar with the cover-up case said of private citizen Nixon yesterday, "He"s just like anybody else now." Nixon's, testimony would be his first under oath on the Water- gate scandals. Besides Ehrlichman, those to be tried in the cover-up case are former White House chief of staff H. R. "Bob" Haldeman, former Atty. Gen. John Mit- chell, former Nixon re-election committee attorney, Kenneth Parkinson, former Asst. Atty. R o b e r t Mardian and former White House aide Gordon Stra- chen. EHRLICHMAN, 49, is charged with conspiring to obstruct jus- tice and three counts of lying to Watergate investigators. There was no sign that any of the other defendants are an- xious to have Nixon in court as a witness. In the last batch of White House taped conversations re- leased before Nixon resigned, Haldeman discussed plans to use the Central Intelligence Agency to cut off an FBI investigation of the June 17, 1972, break-in. HALDEMAN also told Nixon he believes Mitchell knew of the break-in in advance. James St. Clair, who defended Nixon in court and during the House Judiciary Committee im- peachment hearings, has re- signed as Nixon's lawyer and returned to his law partnership in Boston. A California lawyer, Dean Butler, has been handling some personal affairs for Nixon, but there has been no indication that he or any other lawyer has been asked to defend the former president in Watergate - related matters. Butler could not be reached yesterday. Congress tosetup econ plulan W \SIINGTON ' - Acting with unusual speed, both Senate and House moved closer yes- terday toward creating the Cost of Living Task Force which Presidennt Ford requested to help fight inflation. By voice vote, the Senate Banking Committee approved a bill creating the inflation- monitoring agency in much the same form requested by Ford, despite some expressions of skepticism. THE HOUSE Banking Com- mittee earlier in the day voted 27 to 8 for virtually the same bill. Both House and Senate are to take up the bill Monday and it should go to Ford early next week for his signature. The proposal also picked up valuable support from organized labor and big business. THE SENATE committee's approval came after the panel by a 10-S vote, rejected a sub- stitute offered by Sen. Adlai Stevenson (D-Ill.), who said the a g e n c y envisioned by Ford would have absolutely no auth- ority to fight inflation. Stevenson's amendment would have allowed the agency, to be known as the Council on Wage and Price Stability, to defer overly generous wage or price increases for up to 90 days, giv- ing the President time to "jaw- bone" for moderation. M 603 E. Liberty * Dial 665-6290 Open 12:45 daily, Shows at 1-3-5-7-9 p.m. . boisterously Zany BARBRA funny at her wackiest! old-time farce ... STREISAND For Pete's Sake, at her best!" See The Picture Vincent Canby, N.Y. Times Already. You'll Absolutely Love It - Know What I Mean? BARBRA STREISAND in "FOR FETE'S SAKE" Republicans issue minority opinion - .. STARTS ir TODAY! - OPEN 6:45 PH NVE 662-6264 , SHOWS AT 7 and 9 P.M. 23 S. STATE STREET SHOWS AT 1, 3, 5, 7 & 9 P.M. SAT. & SUN. OPEN AT 12:45 They SIDNEY POITIER - BILL COSBV # s HARRY BEIAFONTE oai eDan "Crammed with Funny more fun than When SAWURDAV most of us hove - You gotten Mess out of BSS filmed With entertain- ment in Their ages." Money ""**- -Susan Stork, EA ,,"4'5ia "FswamtsnrmmAWar nlen ansaa C . Detroit Free Press (Continued from Page 3) the Watergate break-in he ap- proved a plan to steer the FBI away from investigating his re- election campaign money's fi- nancing of it. UNTIL THEN, the Republi- can' draft report contends, the comittee's evidence for its Watergate cover-up impeach- ment articles was "comprised of layer upon layer of hearsay," It says 90 per cent of the committee evidence against Nixon would be inadmissible in any court. The Republicans' report also says committee evidence estab- lishes that the $75,000 alleged hush money payment to E. Ho- ward Hunt was not ordered by Nixon but was already in the process of being paid March 21, 1973, by the time Nixon made comments that could be inter- preted as approving of it. IT ALSO SAYS that whatever ambiguous comments N i x o n made - on clemency for Water- gate defendants, there is no firm evidence "that the President ever offered or authorized the offer of clemency to any person in exchange for his silence or false testimony." i On the abuse of power im- peachment article, the Repub- licans' report says they con- demn Nixon's varying knowl- edge and involvement in such abuses by aides as misuse of the Internal Revenue Service and actions against Daniel Ells- berg. But it says they find no impeachable offense by Nixon himself. The draft report says sanc- tions are needed "to deter such reprehensible official conduct in the future." BUT IT CONTENDS there is no evidence directly implicating Nixon in illegal acts, It contends there is an open question, for example, whether Nixon order- ed or condoned efforts by aides including former White House counsel John Dean to have the IRS audit political enemies. opposing the third impeach- ment article for Nixon's de- fiance of committee subpoenas, the draft report says this would "introduce an element of brit- tleness" in the Constitution's checks and balances between the President and Congress. "Furthermore," it says, "there may appear to be an element of unfairness or even circularity in removing a Presi- dennt from office for failure to cooperate in his own impeach- ment," I