European Stars and Stripes (Newspaper) - February 25, 1990, Darmstadt, Hesse                                Page 18 the stars and stripes sunday february 25.1990 business news w. Germany Japan Call Dollar s tune the Strong currencies of Japan and West Ger Man held inc cards this past week when in came to Exchange rates with inc . Greenback. Inaction by inc Bank of Japan and worries about the monetary Impact of East West Ger Man reunification gave the Buck a Small boost. International monetary dealers said Tim Fox of the Midland Montagu Bank in London were disappointed when the Dank of Japan failed to raise Hal country s discount rates following last sunday s parliamentary election. That helped the  Fox said. In benefited b default " the Dollar also received a shot in the Arm from an erroneous a i report Friday stating thai a Union of the two German s won. Result in Amine Loui a  Wist Mark Exchange rate. These slight up Ward fluctuations in the Dollar so Mary Nell value Aren t really Felt in a fatter pock Lbook. The Money Market gyrations remain a matter of one or two pfennig up or Down. The military Exchange rate in West Germany Wasset monday afternoon at 1.64 Marks to the Dollar. It dropped to 1.63 in midweek and ended inc week at1.64 the i 64 rate will hold through monday. Since dec. 23. There has ctn a very narrow trading  said Roland Scharff. Treasurer of he Uichi land Shank in Frankfurt. West Germany. The Dollar he pointed out. Has stayed pretty much within the confines of 1.66 to 1.70 Marks on the International Market. In the United slates. Inc economic picture has not been As Rosy As possible. The National deficit remains High. The Economy remains slow. Seh Arlt. However has not lost Faith in the Dollar. Some have been predicting that the Buckwold crash since the end of december he pointed out. It has t happened and i Don t think that it ingoing to  he said. I believe for the time being that it has bottomed  he said in fact that the Dollar in general infirm at present. In is higher against the yen than in was  Scharlz noted. The Exchange rate is much better than it was last  in Europe worries continue Over the Price Hal will have to be paid to Rescue East Ger Many s disastrous Economy. Although economists Point out that unification is not coming at a bad time there arc jitters. On inc positive Side. West Germany has just us Best year in a decade. Its Gross National product jumped 4 percent to $1.3 trillion. An 11percent gain in exports helped the country reach a record Trade surplus of $86 billion in 1989. For the first time since the 1970s. West Germany surplus surpassed Japan s. Short term however in is anticipated that the Rescue operation accompanying reunification will be an economic Nightmare. In looks like it will be a $100 million  Seh Arlt. Noting that the investment involved probably would result in a weaker West German Mark. A lot of speculators arc already concentrating on other european currencies he said. In Hopes of hedging their bets they arc buy ing French francs and italian  he said. Both Scharff and Fox believe that in the near future economic forces outside the United states will continue to play an important part in establishing inc Dollar s value. Scharff docs not foresee movement on the world monetary Market until details of the est German Rescue operation become clearer. I could in fact be done in stages he said. We need to know More about what the Price will  he said. We have no idea How the conver Sion of East Marks to West Marks will be  Tim Tun my High fsr naval aviators 1990 Calendar Hub an f-16n and it. Mike Calor Dunn member of vf-126 Aggro Sam Squadron race flying Hughy cuter. Navy s Calendar boys flying High for Relief to Romania by  j. Bar  Washington Bureau Washington when 13 photogenic Navy a actors posed with their aircraft for 1991 Calendar Pho los last year their thoughts were far from romanian orphans. Vet the needy children of that distressed nation stand to Benefit from the Sale of the Glass aviation calendars along with two similar calendars. In really makes me feel Good to know that besides giving people something Nice to look at. These  Cedars Are now doing some Good Lor people said Calendar publisher Margaret Uerlin. Berlin is contributing $1 to the romanian Relief Effort for every military Calendar she Sells by mail from her Kansas warehouse. She said she has 25,000 of the $7.95 calendars in Stock. The donations arc going to world vision an inter National Christian Relief and development Agency based in California. World vision has pledged $500,000 to Romania for medical supplies food and other Basic necessities. In does t Surprise me that she would be doing something like that at  former Navy it. David St scr said of the Young publisher. She s always looking for ways to not Only help the service hut other organi Lions As  said Staser. A former Navy Pilot and or. July in Berlin s thing High naval aviators Calendar. Some of the   went to Navy Relief some went to. An offi cers pics club. She is quite supportive of a lot of ser Lee  Hurlman attorney turned businesswoman who once worked for sen. Bob Dole. A Kan. Says she plans other Relief programs. Tins year she printed 100.000 military calendars. 75.000 of which were marketed in outlets around the Globe indudinj1, stars and stripes bookstores. It was the remaining 25,000 that she committed to the fund raising Effort. I enjoy doing this More than Selling calendars she said. I m not in it for the Money. There has to be a higher  in addition to flying High two other calendars Are part of Berlin s Charity Effort. They arc Thun do Birds America s team and Blue Angels he Rocs of the  Berlin is Selling the remaining calendars by mail. The address Berlin publications. . Box 283, dept. R. Shaw Nee Mission Kan. 66201. Peace dividend taxpayer s dream new York a there is no peace dividend yet and there May never be one but proposals for spending it already arc being offered by individuals and groups with a cause. Now comes an original one Don t spend it. Give it Back to the people. The proposals to spend the dividend some say Are examples of the urgency with which advocates activists elected officials and supporters of big government promote private agendas at the Public s expense. As imagined the peace dividend would result from a Quick cutback in the United slates defense budget As world tensions Case freeing billions of dollars for use elsewhere. But it will never exist says economist Stuart Butler so Long As Eastern Europe and the soviet Union re main in turmoil and so Long As there is no consensus inthe United slates regarding future defense  in spite of this Butler and his heritage foundation colleagues said they found advocates of various pro Grams holding news conferences to propose ways in which to spend the Money. Therefore they offer theirs. Butler director of Domestic policy studies at heritage a conservative think tank proposes tax cuts totalling More than $ 107 billion a year in Relief. The proposals included reducing the tax Burden on the elderly by eliminating the social Security earnings test. Currently americans be tween Ages 65 and 69 who earn More than $9,360 Are required to give up $ i in social Security benefits for every s3 they earn. This is an effective 33 percent tax on earnings on lop of All the other Federal state and local taxes Hal Are de ducted according to the paper. The effect in says is to drive such people out of the work Force. Another proposal would Index the social Security benefits lax for inflation thus providing automatic increases