European Stars and Stripes (Newspaper) - July 23, 1963, Darmstadt, Hesse I the Sims and studs Tendoy july 93, 1963 de Gaulle reported . To save Gold by borrowing planning sea policy from International Money fund based on . Model Paris a president Charles de Gaulle plans to base his Allied naval policy on the american Model keeping the bulk of his forces to himself in time of peace while seeking a larger role for France in Allied councils. This is the explanation Given by Well informed sources for de Gaulle s recent decision to with draw the French Atlantic Fleet from the command Structure Osnato. At tub same time French officials derided report that de Saulle want to flaunt France sown nuclear Power along the Coanta of Weet Africa and sout America a soon a France Poa Aea Aea a a Thorno nuclear rate tile capability. De Gaulle has several time publicly stated that while nato is essential to Western defense France deserves a louder voice within the Alliance. The withdrawal of the Atlantic Fleet is eco As another of a series of measures designed to put pres ure on other members of the pact the United Stales French sources Point out keeps the bulk of its naval Power under its own National command. Even those units committed to Natare done so through officers who Are american As in the Case of the supreme commander of Al lied naval forces in the Atlantic Salant. The 17.8. St Fleet these sources add is available to the Alliance Only for certain Mission Sand then through an american officer at Naples who comes under a Gen Lyman l. Tem Blater supreme Allied in Europe. De Gaulle according to these sources feels a similar course for France lives Franca additional leverage when the time comes for nato s revision. In any Case the withdrawal i largely a paper transaction. In. Like tie army and air Force Situ Atlon where troops and planes Are actually placed under Allied operational command the naval forces Are simple earmarked for eventual Allied command in Lime of War. Shl i Are not placed under Salant operational command in peacetime. Hence de Gaulle s action moans that these ships Are no longer earmarked for Allied com Mand in Cane of War. Meanwhile they arc available for joint a Nevers and no one seriously doubts that they would also be available to the allies in Case of War. Washington a forthe first time the United states is at the door of the International monetary fund As a Borrower. Few people prophesied this when the fund was founded at the United nations bretto Woods conference in 1944. But obviously times have changed. The United states which had huge supplies of Goldin the Early postwar period has found its supplies dwindling. That is Why president Ken Nedy told Congress last week that the United states has Bee authorised to draw up to $500 million Worth of currencies from the fund this year. This transaction is a classic to 2 a How 1 of us Bureau of reports. La said to a president Kennedy Choice to replace Ray Bogers on the National labor Board. A Republican Jenkins would be the second negro to w n e on a Federal commission or Board in the Kennedy adm Elstra. United press photo bulk Cemi from a bomb test Bain radioactivity hits Peak Vatty Mifot or. _ Washington up _ the geological Survey reported record High concentration of a. Dlo Active tritium in , triple weight Hydro fan. Is produced naturally in the atmosphere by cosmic Ray bom. Bar dment but the bulk of it Congress has if rail action Washington tie null Omil committee of radiation Protection. Example of How a nation use the fund when it has a Barace of payments problem. That what the fund is for and other countries have been using it forbears. But though classic the transaction i a mile difficult to understand. The United states has a bal Ance of payments problem be cause it sends More dollars Over seas than it takes in. The total of foreign imports military spending abroad american tourist spending and . Foreign Aidis greater than the total of . Exports foreign tourist spending in America and other sources of foreign Money. Because of this imbalance for eign countries tend to accumulate More dollars than they they Trade these dollars in for us. Gold. America s supplies of Gold become smaller. In his message to Congress the president sold the balance was growing More favourable and the flow was slowing but he added that the problem still had to be attacked. One weapon was the use of the International monetary fund. Or. Kennedy said the fund which has $15 billion Worth of currencies had reached a Satura Tion Point in dollars its Mem Bers according to the rules no longer could pay off their debts in dollars this would mean that countries in order to pay off their debts would have to con Vert their dollars into Nome Lhing clue. And that something Els could be . Gold. To prevent this or. Kenned said the United states would he come a Borrower itself and make use of the fund. Here is How this would work the fund has authorized the United states to draw up to 500 million Worth of currencies. Al though this is called a loan. It is an Odd kind of loan for the United states up s in a Dollar for every Dollar Worth of foreign currency it takes out. Now when a country with Dol Lars decides to repay Money it owes the fund. It can sell i dollars to the United states for the foreign currencies that tin United Stales borrowed from tha fund. The other country than puts the foreign currencies late the fund. It has made Ita repays ment without having to convert dollars into Gold. And so tha United states does t lose any More Gold. V All this borrowing by the United slates is done without an interest charge but with a ice charge of one half of 1 Par cent the International monetary i fund although founded in 1h4, did not function until two Yean later when enough country assigned up to make the project Worth trying. Camille Gutt of Belgium Wuthe first managing director. A was followed by Ivar Rooth an then per Jacobsson both of swe Den. The present director Perrt Paul Schweitzer of France Wal named last month after the death of Jacobsson. The fund now has 86 members each with voting Power deter mined by the amount of contribution it makes to the fund. This also determines the maximum amount that the country can draw from the fund. The five members with the largest quotas Are the unite states Britain France West Germany and India and each appoints one of the fund s executive directors. The other 13 executive directors Ore elected by the ref of the members. The soviet Union and most other communist countries Are not members. Cub is a member and to is Yugoslavia. The fund. In a report Las april 30, said that 48 countries had drawn $6.845.400.000 Worth from the fund since it by an. Repayments amounted to .,658.400,000 then. Pumpian ui1ioh hav yall Mici col Iio wat p. 1mi1h fc.,Ula Iii col Wiliah w. Coisman jul a i feel Sinoto in Whitt. Uia Offit o. Hank Mel a main of Sui Lii Kimii d. Hynst s. Irl Riih oilman a oiic7t " " i Wiluth Urt Oan Mali cd la la Ltd a a. Cable. , a Killil. So .11, i Kcf 164, do Iila ii in Iun. 1 enl ii Seth Tel 4f am six my. I u so f1" arts a Ici hit i 04.m us ,.j.1,00. A ,. " "0"1 " i Ion off Chi , Cas pfc Ici. In oilman i . Ici 04ioi.jm7 Ira Trimi Ulm. In �4un is. a 1.,--,Cfi-.-7�r, a sit Tripoli str Mig a n
