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WD Ins GdMNAWA dimed, lucodey, Jonuury 15, 1503 Rasminsky Takes Blame For Policy o2 ee OTTAWA (CP)--Louis Ras- minsky says the monetary pol- icy followed in Canada during the last 18 months, since he be- came governor of the Bank of icy and it was conducted under his responsibility for it. The government had been kept "constantly informed" of devel- ' opments in the policy and had not dissociated itself from it. Mr. Rasminsky made this statement Monday to the royal commission on banking and fi- mance in explaining that the government now has accepted what he described as "the prin- ciple of joint or dual respon- sibility" for monetary policy. This principle has two parts: 1, Ordinarily the bank--in ef- fect, Mr. Rasminsky--is respon. sible for this policy, affecting as it does the currency and credit in Canada. 2.If the gov- ernment disagrees with that policy, it has the right and duty to tell the bank which policy to carry out. Happily, Mr. Rasminsky said, the second part of the principle has never been invoked, ENDS TESTIMONY Concluding 3% days of evi- dence to the commission, Mr. Rasminsky said that dual re- sponsibility does not relieve the governor of "moral responsibil- ity." If he could not share the government's views there would be "no possible alternative but to move off and make room for someone else."' Mr. Rasminsky clarified the role of the bank's 13 directors. Under the Bank of Canada Act, they are concerned chiefly with the internal management of the Camp Picked PC Chairman After Grosart OTTAWA (CP)--Dalton K. bank--with its 800 employees. They set salaries in the bank, and handle administrative mat- ters. But they cannot make de- cisions on monetary policy. The governor said the ques- tion now is whether the government - governor relation- ship should be clarified once and for all, either by legislation or through a formal declaration Camp, 42, Toronto adverti: of the principle by the commis. seocntita. has become aiet on sion in its report, due next Sep- ganizer of the Progressive Con- tember. servative party. He succeeds another Toronto advertising ex- ecutive, Senator Allister Gros- art, the party's national direc- tor since 1957. Appointment of Mr. Camp, a native of Woodstock, N.B., as chairman of the party's na- tional organization committee Prime Minister Diefenbaker. The prime minister said Mr. Camp "has been closely asso- Giated with me in the last three campaigns and, of , with Senator Grosart in planning and direction of party activities since 1957." Mr. Diefenbaker said he ac cepted Senator Grosart's resig- nation as chief organizer "with regret."" "The Conservative party owes him much," the prime minister said in a statement. HEADS FIRM Mr. Camp, a graduate of the University of New Brunswick and the Columbia University Graduate School of Journalism, is president of the firm of Dalton K. Camp and Associates. = is married and has five chil- en. Salary for the position of chief | g99 organizer {s reported to be $25,- 000 a year. Mr. Camp served as cam. paign strategist for the Con- servative party in several re- cent provincial elections in the Maritimes. SAY LEVELS SAFE STRASBOURG, France (Rev- ters)--Present radioactivity lev- els are far below the danger limit to human beings, an ex- perts' report asserted Monday. The report covering the effects on agricultural produce of ra- dioactivity from nuclear explo- sions was submitted to the consultative assembly of the '. Council of Europe. It was pre- 'pared by Lord Stonehaven of Britain, a member of the 16- nation assembly's agricultural commission. Man Robbed Of $30,000 ST. JOVITE, Que. (CP)---Two thugs attacked a 63-year-old man Monday, robbed him of $30,000 and drove him 65 miles to Montreal in the trunk of a stolen car. Bastien van der Swan, an ac- countant at a resort hotel, was on bis way to the bank when the robbers hit him with a gun butt and tossed him into the trunk of the car they were driv- ing. Van Der Swan was found after the robbers abandoned the car in an alley. A cruising taxi driver heard him pounding on the lid of the t 4 Van der Swan, badly cut over one eye and on the hands, had to be taken to hospital. He had been taking the hotel's weekend receipts to the bank in a satchel. First reports had placed the robbery loot et $33,- HOWARD'S 926 SIMCOE N. 725-3144 TOS Le ae i at are 1. Pea ( it , j I i Fi) Wl eye dU BROADLOOM SLIP COVERS BAMBOO UPHOLSTERING LET'S HAVE roll ond romp on the rugs out and back again "Just One Call FREE PICK-UP co. 80 SIMCOE NORTH the fresh, Cleaned" rugs we've just had returned. Boy, do they ever brighten up the whole room! 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WAS $4195 $3745 1962 TR 4 With electric overdrive . . . wire wheels . . . dise brakes . . . white walls... never raced . . . looks and acts like new. NEW LIST $3500 rv $2495 1960 OLDSMOBILE Sedan with automatic transmis- sion and radio. You'll love this model! WAS $2995 $1 995 NOW These Cars Aren't "Hot" . . . Just the Prices . . . They've Been Knocked Down To An All Time Low! Check Here... 1962 CHEVROLET Sedan with V-8 engine, auto- matic transmission, power steer- ing, and radio, Like New ! WAS $2745 NOW $2485 1960 PONTIAC PARISIENNE Convertible. easy-driving auto complete with automatic transmission and radio. WAS $2475 NOW $2275 A sharp looking, THE CREAM OF THE CROP...59's, 60's, 61's, 1960 CHEVROLET 2-door model equipped with V-8 engine, power steering, power. brakes, automatic transmission. 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WAS $2095 NOW $1875 1961 CORVAIR COUPE Complete with automatic transmission and radio. WAS $1995 NOW $1845 1960 CORVAIR Sedan, complete with automatic tronsmission. WAS $1645 NOW $1445 1962 CORVAIR MONZA Equipped with 102 H.P. engine and automatic transmission. WAS $2380 NOW $2195 1961 CORVAIR Sedan complete with radio. WAS $1935 NOW $1585 1962 CORVAIR DEMONSTRATORS Only 2 left! Fully Equipped. Clearing At $2195 i957 DODGE Custom Royal, Automatic trans- mission, power steering, power brakes and radio. WAS $1095 NOW $745 1957 NASH Sedon. WAS $295 NOW $115 1953 CHEVROLET Spotless condition. Complete with automatic transmission. NOW $295 THEN YOU HAVE THE OLDER CARS... SOME IN PERFECT SHAPE! 1957 CHEVROLET This is a smartly-styled 2-door model. WAS: $1045 NOW $845 1955 CHRYSLER Sedan, equipped with automatic transmission and radio, WAS $295 NOW $125 1956 FORD Deluxe model with automatic transmission and radio. WAS $595 NOW $395 1955 PONTIAC Still lots of miles left in this sedan. 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