European Stars And Stripes (Newspaper) - March 23, 1986, Darmstadt, Hesse                                Sunday March 23, 1986 the stars and stripes Page 5 Martin quitting fed cites personal reasons Washington up Federal Reserve Board vice chairman Preston Martin said Friday he will leave the Board at the end of april for personal reasons and not because of his recent dispute with fed chief Paul Volcker. For the last 100 Days i have agonized Over whether to serve four More years As the Board s vice chairman mar tin at a news conference where he read the letter of Resig nation he sent president Reagan. In the end any such decision is a very personal one and on that basis and with real regret i have come to tender my resignation he wrote Reagan. Martin told reporters he had every reason to believe that Reagan would have reappointed him when his term As vice chairman expires March 31. Reports of a growing rift Between Martin one of four Reagan appointees on the Board commonly known As the gang of four and Volcker have sent tremors through financial markets in recent weeks. Any Challenge to Volcker s seven year control of the Federal monetary authority would have a major Impact on those markets. The reports began to circulate after the fed voted to lower its discount rate to 7 percent following similar actions in West Germany and Japan. Sources close to the fed said Volcker had opposed the rate Cut but had been on the losing end of a 4-3 vote. The four Reagan appointees led by Martin had voted to lower the interest rate the fed charges its member Banks from 7.5 percent to help stimulate the Economy. Volcker and two other Board members voted to keep the discount rate where it was for fear a unilateral Cut would collapse the Dollar. A Compromise was eventually worked out to delay the move until after the West germans and japanese acted thus softening the blow to the Dollar. But the incident later confirmed by other fed sources has led Many economists to speculate that the Volcker Era of anti inflationary policies might be Over. Martin however dismissed reports of a conflict with Volcker As the reason for his resignation. He declined to say if he wanted the chairmanship saying the position is not  i m not tired of working in the fed he told the packed news conference in the ornate panelled Board room at the Central Bank s Headquarters. This is one of the most exciting crisis management centers on the planet. I think there is Harmony on this Board seven individuals with Strong opinions with varied backgrounds and with a Candor with each  Martin 61, said he will return to san Francisco and a private financial services business. I have ideas As to a number of roles that can be played in the financial services world but i have no specific plan to share with you he said. I believe the functioning of this Board continues with a very High degree of  he said he did not know who his successor would be and he had not made any suggestion to the president. My goals and objectives As an individual Are to remain available to the president and Paul Volcker on an informal basis if Ever needed he said. The fed controls the Money Supply and the discount inter est rate the Basic rate the fed charges its 12 member Banks. Gao says Pentagon Cut Corners to fulfil Reagan Bush request Washington a Pentagon officials violated their own regulations in handling the release of names and addresses of 1.4 million service members to the Reagan Bush Campaign committee during the 1984 Campaign the general accounting office said Friday. The Gao report did not say the names could not be released but that shortcuts were taken in handling the request. There have been previous releases of service members names and addresses to political organizations the Gao said but the defense department has routinely de Nied requests by the business Community for such mailing lists. At the time the names were being re leased to the Reagan Bush committee Navy lawyers were in Federal court to argue that such information could not be Given to a private company because of the threat to National Security. _ in other cases the armed forces have cited the service members right to privacy As a reason for refusing such requests. Congress investigating Arm in its report to rep. Jack Brooks a Texas said Penta gon officials did not follow Normal rules for considering Freedom of information act cases after receiving the request from the Campaign organization. The Reagan Bush request was signed by . Grayson former principal Deputy assistant Secretary of the Navy for manpower and Reserve affairs. The committee wrote oct. 2 to request information on service members with voting residences in 16 states. It later asked for information from four More states. The mailing lists were received oct. 17, 1984, meeting the committee s request that they be released in time for use before the november election. The committee paid $1,442 for the lists. Citing a failure to follow Normal proce dures the Gao said the names were com piled by Pentagon manpower officials be fore the regular Freedom of information office was Given the request. The Foi office s coordination with the separate services which normally occurs before a release of information is approved was made in this Case after the decision had been made by manpower officers to give out the names. Defense department spokesman Jim Turner said Friday that Pentagon officials had not read the report and would have no immediate comment. At the same time the Pentagon released the names to the Campaign organization attorneys representing the Navy were arguing in Federal court against release of mail ing lists to John Hancock co. On National Security grounds. The judge in the Case or dered the names released. It is apparent that despite the concerns of the military services about National Secu Rity and the privacy of the men and women of the armed forces the politicos of the Pentagon took charge and manipulated the process to ensure the release of these servicemen s names and addresses to the Rea Gan Bush Campaign said Brooks the chairman of the House government operations committee. Junk it Ain t a photo Edward Jones left and Frederick Bein Paris that Jones bought in a junk shop chairman of the geography department for $3. After the authenticity of the Marat Indiana University Purdue univer was confirmed Lloyd s of London Sug sity examine a 300-year-old map of tested that it be insured for $10 million. Sands of time in the stars and stripes 40 years ago today. March 23, 1946 thirty three factory workers in Hamburg collapsed at their work As signs of starvation spread throughout the City. Police urged food dealers to Board up their shop windows to reduce the increasing number of looting by hungry people. Foreign navies to participate in Centennial of miss Liberty 30 years ago today. March 23, 1956 Anna Magnam who portrayed the tempestuous widow in therose Tattoo and Ernest Borgnine As the love starved Butcher of Marty won Academy awards As Best actress and Best actor of 1955. 20 years ago today. March 23, 1966 sen. Richard Russell d-ga., chairman of the Senate armed services committee told the Senate that the Vietnam War was reaching a Point where the United states should make drastic  70 years ago today. March 23,1976 in Aspen colo., Singer actress Claudine Longet was told she will face criminal charges in the death of her Lover former world ski Champion Vladimir spider Sabich. Washington a the Nav announced Friday that at least 26 nations will Send modern combat ships or sailing vessels to participate in the Cele bration of the 100th anniversary of the statue of Liberty. In addition 10 foreign navies Are plan Ning to Send delegations the Navy said. The activities will begin with an inter National naval review involving the modern ships on july 3. Twenty one ship from 14 countries will join 11 . Navy ships steaming into new York Harbrand up the Hudson River the Navy said. The vessels will Anchor and on july 4,the battleship Iowa will pass in review and Exchange honors. The Navy s precision flying team the Blue Angels will also make an appear Ance on july 4. Following the naval review 21 sailing vessels from 12 foreign countries will sail up the Hudson River for operation sail 1986." the two nautical events will be part of a much larger four Day Liberty week end 86" Celebration marking the statue s Centennial. A gift from the people of France the statue of Liberty was dedicated on oct. 28, 1886. It has been undergoing a major refurbishment since Early 1984. Its Torch will be remit on the night of july 3. The delighting ceremonies will Origi Nate from the deck of the aircraft Carrier John f. Kennedy which will be anchored nearby